Royal London Asset Management 13F: Adds $3.1M to CNM Stake

Royal London Asset Management has increased its holdings in Core & Main, Inc. (NYSE:CNM) by 64,106 shares, according to its latest Form 13F filing with the SEC. This boost brings its total stake to 5,752,701 shares, valued at approximately $278 million as of the reporting period ending March 31, 2026.

What Changed in Royal London Asset Management's Core & Main Position

The recent filing shows Royal London Asset Management grew its position in Core & Main by about 1.13%, adding 64,106 shares. This increase brought their total holdings to 5,752,701 shares, up from 5,688,595 shares previously. The value of this position is now approximately $278 million.

Other Institutional Activity in Core & Main

Several other institutional investors also adjusted their positions in Core & Main. BlackRock, Inc. increased its holdings by 277,506 shares, ending with 19,206,024 shares valued at about $948.8 million. Capital World Investors made a significant addition of 5,278,652 shares, bringing its total to 11,571,392 shares worth approximately $571.6 million. Vanguard Capital Management LLC and Vanguard Portfolio Management LLC both reported new positions with 8,465,825 and 7,819,539 shares respectively. In contrast, Select Equity Group, L.P. reduced its stake by 524,169 shares, leaving it with 7,254,207 shares valued at $358.4 million.

Core & Main, Inc. Stock Up 13.2%

Shares of Core & Main (NYSE:CNM) are currently trading near $48.33. The company has a market capitalization of $9.05 billion and a P/E ratio of 20.48. Core & Main's stock has seen a 52-week low of $43.96 and a high of $67.18. The 50-day moving average is $49.77, while the 200-day moving average stands at $52.20. The company maintains a current ratio of 2.31 and a quick ratio of 1.28, with a debt-to-equity ratio of 115.94.

Recent Earnings

Core & Main reported revenue of $7.65 billion with a slight decline in revenue growth. The company achieved a net margin of 5.87% and a return on equity of 23.89%. Earnings per share (EPS) stood at $2.36. The next earnings report is expected on June 10, 2026.

Insider Buying and Selling at Core & Main, Inc.

Recent insider activity at Core & Main included transactions by Robyn Bradbury, the Chief Financial Officer, who sold 5,000 shares at an average price of $52.54 on April 17, 2026, as part of a planned sale. Additionally, James Hope purchased 1,972 shares at $50.70 on April 7, 2026.

Analysts Set New Price Targets

Analyst activity around Core & Main includes Citigroup maintaining its 'hold' rating with a $53 target on June 11, 2026. Deutsche Bank and Barclays both maintained 'buy' ratings with a $62 target on March 25, 2026. The consensus among analysts is a 'buy' rating, with a mean target price of $60.60 based on 15 analyst opinions.

About Core & Main

Core & Main, Inc. is a major distributor of water, wastewater, storm drainage, and fire protection products in the United States. The company offers a wide range of products, including pipes, valves, and hydrants, as well as smart metering solutions and fire protection accessories. Headquartered in Saint Louis, Missouri, Core & Main serves municipalities, private water companies, and contractors across various markets. The company employs around 5,600 people and is led by CEO Mark R. Witkowski.

Bottom Line

Royal London Asset Management's increase in its Core & Main position reflects its confidence in the industrial distribution company. Investors often track such filings to gauge institutional sentiment, though it's important to remember that 13F filings are backward-looking and may not represent current positions. Core & Main's stock remains a focus for analysts, with a consensus 'buy' rating and a target price indicating potential upside.