44,670 Shares in Core & Main, Inc. (NYSE:CNM) Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System purchased a new position in shares of Core & Main, Inc. (NYSE:CNM) during the fourth quarter, Holdings Channel reports. The firm purchased 44,670 shares of the company’s stock, valued at approximately $1,805,000.

A number of other large investors have also recently modified their holdings of CNM. Norges Bank acquired a new stake in shares of Core & Main in the 4th quarter valued at $108,023,000. Morgan Stanley boosted its holdings in shares of Core & Main by 423.6% in the 4th quarter. Morgan Stanley now owns 3,526,994 shares of the company’s stock valued at $68,106,000 after purchasing an additional 2,853,438 shares in the last quarter. FMR LLC boosted its holdings in shares of Core & Main by 51.1% in the 3rd quarter. FMR LLC now owns 7,865,719 shares of the company’s stock valued at $226,926,000 after purchasing an additional 2,660,097 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Core & Main in the 4th quarter valued at $91,771,000. Finally, Robeco Schweiz AG acquired a new stake in shares of Core & Main in the 1st quarter valued at $51,950,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $40.98, for a total transaction of $938,762,258.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Jeffrey D. Giles sold 40,000 shares of Core & Main stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.14, for a total value of $1,765,600.00. Following the completion of the transaction, the vice president now directly owns 8,217 shares of the company’s stock, valued at approximately $362,698.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of Core & Main 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 disclosure for this sale can be found here. Insiders sold a total of 23,363,315 shares of company stock valued at $960,746,759 in the last three months. Insiders own 3.49% of the company’s stock.

Core & Main Stock Up 0.6 %

Shares of NYSE:CNM opened at $55.47 on Wednesday. The firm has a market cap of $11.17 billion, a P/E ratio of 25.80, a P/E/G ratio of 1.74 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. Core & Main, Inc. has a 12-month low of $24.46 and a 12-month high of $60.83. The business has a fifty day simple moving average of $51.25 and a 200 day simple moving average of $41.35.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $1.44 billion during 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%. Core & Main’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. Analysts predict that Core & Main, Inc. will post 2.59 earnings per share for the current year.

Wall Street Analyst Weigh In

CNM has been the topic of a number of research analyst reports. Citigroup downgraded Core & Main from a “buy” rating to a “neutral” rating and raised their target price for the company from $63.00 to $64.00 in a report on Friday, April 5th. Loop Capital raised their target price on Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. The Goldman Sachs Group raised their target price on Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, March 26th. Truist Financial reissued a “hold” rating and set a $38.00 price objective on shares of Core & Main in a report on Wednesday, March 20th. Finally, Barclays raised their price objective on Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.08.

Core & Main Profile

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.