Zurcher Kantonalbank Zurich Cantonalbank Buys 82,126 Shares of Core & Main, Inc. (NYSE:CNM)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Core & Main, Inc. (NYSE:CNM) by 25.3% during the fourth quarter, Holdings Channel reports. The firm owned 407,297 shares of the company’s stock after purchasing an additional 82,126 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Core & Main were worth $16,459,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Renaissance Capital LLC raised its position in Core & Main by 59.0% in the fourth quarter. Renaissance Capital LLC now owns 85,574 shares of the company’s stock worth $3,458,000 after acquiring an additional 31,740 shares during the period. State of Michigan Retirement System purchased a new position in Core & Main during the fourth quarter valued at $1,325,000. Exchange Traded Concepts LLC grew its stake in Core & Main by 328.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 78,854 shares of the company’s stock valued at $3,186,000 after acquiring an additional 60,435 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Core & Main by 4.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,734,897 shares of the company’s stock valued at $70,107,000 after acquiring an additional 73,790 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new position in shares of Core & Main in the 4th quarter worth $1,805,000. Institutional investors own 94.19% of the company’s stock.

Core & Main Stock Down 0.3 %

Shares of NYSE:CNM opened at $54.58 on Friday. The company has a market capitalization of $10.99 billion, a PE ratio of 25.39, a P/E/G ratio of 1.71 and a beta of 1.15. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. Core & Main, Inc. has a twelve month low of $24.83 and a twelve month high of $60.83. The firm has a 50 day simple moving average of $51.74 and a 200-day simple moving average of $41.54.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. On average, equities analysts predict that Core & Main, Inc. will post 2.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CNM. Barclays lifted their price objective on shares of Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group lifted their price target on shares of Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Loop Capital lifted their price target on shares of Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. lifted their price target on shares of Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Finally, Royal Bank of Canada lifted their price objective on shares of Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.08.

Insider Transactions at Core & Main

In related news, VP John Weldon Stephens sold 1,100 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $50.02, for a total value of $55,022.00. Following the completion of the sale, the vice president now owns 3,468 shares in the company, valued at approximately $173,469.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Core & Main news, Director Orvin T. Kimbrough sold 5,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $44.17, for a total value of $220,850.00. Following the transaction, the director now directly owns 9,320 shares of the company’s stock, valued at approximately $411,664.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP John Weldon Stephens sold 1,100 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $50.02, for a total transaction of $55,022.00. Following the completion of the transaction, the vice president now directly owns 3,468 shares in the company, valued at $173,469.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,363,315 shares of company stock worth $960,746,759. 3.49% of the stock is currently owned by insiders.

About Core & Main

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.