Edgestream Partners L.P. Purchases 179,618 Shares of Core & Main, Inc. $CNM

Edgestream Partners L.P. lifted its position in shares of Core & Main, Inc. (NYSE:CNM) by 818.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,577 shares of the company’s stock after purchasing an additional 179,618 shares during the quarter. Edgestream Partners L.P.’s holdings in Core & Main were worth $9,958,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in Core & Main by 42.3% during the first quarter. EverSource Wealth Advisors LLC now owns 2,389 shares of the company’s stock worth $118,000 after buying an additional 710 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Core & Main by 22.3% during the first quarter. California State Teachers Retirement System now owns 219,934 shares of the company’s stock worth $10,865,000 after acquiring an additional 40,050 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Core & Main by 70.0% in the 1st quarter. Quantinno Capital Management LP now owns 82,771 shares of the company’s stock worth $4,089,000 after acquiring an additional 34,090 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Core & Main by 158.4% in the 1st quarter. Lazard Asset Management LLC now owns 13,703 shares of the company’s stock worth $677,000 after acquiring an additional 8,400 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in Core & Main in the 1st quarter valued at about $864,000. 94.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director James D. Hope bought 2,067 shares of Core & Main stock in a transaction dated Monday, July 6th. The stock was purchased at an average cost of $46.01 per share, with a total value of $95,102.67. Following the transaction, the director directly owned 11,805 shares of the company’s stock, valued at approximately $543,148.05. The trade was a 21.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.51% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. William Blair assumed coverage on Core & Main in a report on Thursday, July 23rd. They set a “market perform” rating for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $24.00 target price on shares of Core & Main in a research report on Thursday, June 11th. Citigroup lowered their price target on Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. Finally, Wall Street Zen upgraded Core & Main from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and an average price target of $56.70.

Core & Main Price Performance

Shares of NYSE:CNM opened at $42.36 on Thursday. Core & Main, Inc. has a fifty-two week low of $41.88 and a fifty-two week high of $67.18. The company’s 50-day moving average is $47.15 and its 200 day moving average is $50.56. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 2.31. The company has a market capitalization of $8.20 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91.

About Core & Main

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.