Core & Main, Inc. (NYSE:CNM) Shares Sold by Polen Capital Management LLC

Polen Capital Management LLC reduced its position in shares of Core & Main, Inc. (NYSE:CNM) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,737 shares of the company’s stock after selling 11,670 shares during the period. Polen Capital Management LLC owned about 0.07% of Core & Main worth $6,910,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC lifted its holdings in Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after buying an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Core & Main during the third quarter worth about $49,000. UMB Bank n.a. boosted its holdings in Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after purchasing an additional 684 shares during the last quarter. Blue Trust Inc. grew its stake in Core & Main by 187.4% during the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after purchasing an additional 830 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Core & Main during the 4th quarter worth approximately $78,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNM has been the subject of several research analyst reports. Citigroup increased their target price on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $62.00 price objective (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Loop Capital increased their price objective on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays increased their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Robert W. Baird increased their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Core & Main has a consensus rating of “Moderate Buy” and an average price target of $57.60.

Insider Transactions at Core & Main

In other news, EVP John R. Schaller sold 21,868 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the transaction, the executive vice president now directly owns 16,452 shares in the company, valued at approximately $770,282.64. This trade represents a 57.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of Core & Main stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the completion of the sale, the general counsel now owns 7,667 shares in the company, valued at approximately $387,106.83. This represents a 86.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,294 shares of company stock worth $9,383,685. 3.49% of the stock is currently owned by insiders.

Core & Main Trading Up 3.0 %

Core & Main stock opened at $47.65 on Monday. The firm’s 50-day moving average is $52.60 and its 200-day moving average is $48.48. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The company has a market cap of $9.47 billion, a P/E ratio of 22.37, a PEG ratio of 2.61 and a beta of 1.05.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.