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

Polen Capital Management LLC decreased its stake in shares of Core & Main, Inc. (NYSE:CNM) by 7.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 135,737 shares of the company’s stock after selling 11,670 shares during the period. Polen Capital Management LLC’s holdings in Core & Main were worth $6,910,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. FMR LLC increased its stake in Core & Main by 28.0% during the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after buying an additional 1,903,280 shares during the period. State Street Corp increased its stake in Core & Main by 9.7% during the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company’s stock valued at $245,177,000 after buying an additional 489,224 shares during the period. Pacer Advisors Inc. increased its stake in Core & Main by 1.0% during the 3rd quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock valued at $188,710,000 after buying an additional 41,521 shares during the period. Royal London Asset Management Ltd. increased its stake in Core & Main by 39.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock valued at $167,029,000 after buying an additional 1,073,451 shares during the period. Finally, Amundi increased its stake in Core & Main by 5.7% during the 4th quarter. Amundi now owns 3,659,261 shares of the company’s stock valued at $186,722,000 after buying an additional 196,828 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Buying and Selling at Core & Main

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 16,452 shares in the company, valued at $770,282.64. The trade was a 57.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Bradford A. Cowles sold 25,000 shares of Core & Main stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the completion of the sale, the president now owns 16,010 shares of the company’s stock, valued at $872,224.80. This trade represents a 60.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,294 shares of company stock worth $9,383,685 over the last ninety days. 3.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Robert W. Baird lifted their price objective on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Barclays lifted their price objective on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their price objective on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $57.60.

Core & Main Stock Performance

CNM stock opened at $47.65 on Monday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The stock has a market cap of $9.47 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.61 and a beta of 1.05. The firm has a 50 day simple moving average of $52.60 and a 200 day simple moving average of $48.48. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15.

About Core & Main

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.