Analyzing Core & Main Inc. (CNM) After Recent Trading Activity


In a filing, Core & Main Inc. revealed its President Schaller John R unloaded Company’s shares for reported $0.8 million on Jul 13. In the deal valued at $31.96 per share,25,000 shares were sold. As a result of this transaction, Schaller John R now holds 0 shares worth roughly $ 0.0.

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Then, Schneider Laura K sold 49,904 shares, generating $1,498,388 in total proceeds. Upon selling the shares at $30.03, the Chief Human Resources Officer now owns 9,672 shares.

Before that, CD&R Investment Associates X, sold 17,125,728 shares. Core & Main Inc. shares valued at $483,202,416 were divested by the 10% Owner at a price of $28.21 per share. As a result of the transaction, CD&R Investment Associates X, now holds 0 shares, worth roughly $0.0.

Northcoast initiated its Core & Main Inc. [CNM] rating to a Buy in a research note published on Friday, June 13, 2023; the price target was $40. PT values the company’s stock at a premium of 17.6 to its Friday closing price.

Price Performance Review of CNM

On Friday, Core & Main Inc. [NYSE:CNM] saw its stock jump 0.37% to $32.96. On the same session, the stock had its day’s lowest price of $32.82, but rose to a high of $33.25. Over the last five days, the stock has gained 5.00%. Core & Main Inc. shares have risen nearly 70.69% since the year began. Nevertheless, the stocks have risen 39.84% over the past one year. While a 52-week high of $33.32 was reached on 08/30/23, a 52-week low of $18.75 was recorded on 01/03/23. SMA at 50 days reached $31.45, while 200 days put it at $25.33. A total of 0.79 million shares were traded, compared to the trading of 1.03 million shares in the previous session.

Levels Of Support And Resistance For CNM Stock

The 24-hour chart illustrates a support level at 32.77, which if violated will result in even more drops to 32.58. On the upside, there is a resistance level at 33.20. A further resistance level may holdings at 33.44. The Relative Strength Index (RSI) on the 14-day chart is 64.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.11, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 14.17%. Stochastics %K at 85.04% indicates the stock is a selling.

How much short interest is there in Core & Main Inc.?

A steep rise in short interest was recorded in Core & Main Inc. stocks on Aug 14, 2023, dropping by -0.13 million shares to a total of 8.92 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 9.05 million shares. There was a decline of -1.46%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 11.95% of the overall stock float, the days-to-cover ratio (short ratio) fell to 11.02.

Core & Main Inc. [CNM] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 8,187,098 shares, or roughly 4.93% of the outstanding CNM shares. In other words, the investor’s shares have risen by 1,832,699 from its previous 13-F filing of 6354399.0. Additionally, Janus Henderson Investors US LLC decreased -26.87% of its stake after which the total value it holdings stand at $179,892,099, while Norges Bank Investment Management added 23.92% of its stake to hold $176.83 million in the firm. Over the last quarter, Victory Capital Management, Inc. sold -288,906 shares of Core & Main Inc., while Select Equity Group LP sold -1,069,877 shares. At present, Pictet Asset Management SA is holding 4,233,014 shares valued at $133.81 million. Fidelity Management & Research Co owned 4,154,133 shares of the company at the time of its most recent 13F filing, worth $131.31 million.

According to FactSet, Core & Main Inc.’s share price will average $35.54 in the next year, based on opinions of analysts polled by the firm. This is up nearly 3.53 percent from its previous closing price of $32.84. Analysts expect Core & Main Inc. stock to reach the higher price of $57.00, while the lowest price estimate is $25.00. However, 13 analysts have rated CNM stock as an Overweight in their predictions for 2023.


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