State of Alaska Department of Revenue Makes New $594,000 Investment in Core & Main, Inc. (NYSE:CNM)

State of Alaska Department of Revenue acquired a new position in Core & Main, Inc. (NYSE:CNM) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 14,700 shares of the company’s stock, valued at approximately $594,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Core & Main in the third quarter worth $28,000. Harbor Investment Advisory LLC purchased a new position in shares of Core & Main during the 3rd quarter valued at $33,000. Money Concepts Capital Corp purchased a new position in shares of Core & Main during the 4th quarter valued at $39,000. Kepos Capital LP purchased a new position in shares of Core & Main during the 3rd quarter valued at $41,000. Finally, PNC Financial Services Group Inc. purchased a new position in shares of Core & Main during the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

Shares of NYSE CNM opened at $57.17 on Friday. The firm has a market capitalization of $11.51 billion, a P/E ratio of 26.59, a P/E/G ratio of 1.88 and a beta of 1.15. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22. The stock’s 50-day simple moving average is $50.41 and its two-hundred day simple moving average is $40.61. Core & Main, Inc. has a twelve month low of $23.14 and a twelve month high of $60.83.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. As a group, equities analysts anticipate that Core & Main, Inc. will post 2.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CNM has been the topic of a number of recent research reports. Royal Bank of Canada upped their price target on Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Citigroup cut Core & Main from a “buy” rating to a “neutral” rating and upped their price target for the company from $63.00 to $64.00 in a research report on Friday, April 5th. Barclays upped their price target on Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. boosted their price objective on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Finally, Loop Capital boosted their price objective on Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.08.

Insiders Place Their Bets

In other Core & Main news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $40.98, for a total value of $938,762,258.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Jeffrey D. Giles sold 40,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.14, for a total transaction of $1,765,600.00. Following the transaction, the vice president now directly owns 8,217 shares in the company, valued at approximately $362,698.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $40.98, for a total value of $938,762,258.70. The disclosure for this sale can be found here. Insiders have sold 23,413,315 shares of company stock worth $962,796,259 in the last ninety days. 3.49% of the stock is currently owned by insiders.

About Core & Main

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.