Mutual of America Capital Management LLC Buys Shares of 76,660 Core & Main, Inc. (NYSE:CNM)

Mutual of America Capital Management LLC bought a new stake in Core & Main, Inc. (NYSE:CNM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 76,660 shares of the company’s stock, valued at approximately $3,098,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CNM. Renaissance Capital LLC increased its stake in Core & Main by 59.0% during the 4th quarter. Renaissance Capital LLC now owns 85,574 shares of the company’s stock worth $3,458,000 after buying an additional 31,740 shares during the period. State of Michigan Retirement System purchased a new stake in shares of Core & Main in the 4th quarter valued at approximately $1,325,000. Exchange Traded Concepts LLC increased its position in shares of Core & Main by 328.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 78,854 shares of the company’s stock valued at $3,186,000 after purchasing an additional 60,435 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Core & Main by 4.4% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,734,897 shares of the company’s stock valued at $70,107,000 after purchasing an additional 73,790 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in shares of Core & Main in the 4th quarter valued at approximately $1,805,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Stock Down 0.3 %

Shares of NYSE:CNM opened at $54.58 on Friday. The stock has a market cap of $10.99 billion, a P/E ratio of 25.39, a P/E/G ratio of 1.71 and a beta of 1.15. The firm has a fifty day moving average price of $51.74 and a 200 day moving average price of $41.54. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30. Core & Main, Inc. has a 1-year low of $24.83 and a 1-year high of $60.83.

Core & Main (NYSE:CNM) last issued its quarterly 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 firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. Core & Main’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. Sell-side analysts predict that Core & Main, Inc. will post 2.59 EPS for the current year.

Wall Street Analyst Weigh In

CNM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Barclays increased their target price on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Loop Capital increased their target price on shares of Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada increased their target price on shares of Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Finally, The Goldman Sachs Group increased their target price on shares of Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.08.

Insider Transactions at Core & Main

In other news, CFO Mark R. Witkowski sold 50,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $58.51, for a total value of $2,925,500.00. Following the completion of the sale, the chief financial officer now owns 23,898 shares in the company, valued at approximately $1,398,271.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Mark R. Witkowski sold 50,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $58.51, for a total value of $2,925,500.00. Following the completion of the sale, the chief financial officer now owns 23,898 shares in the company, valued at approximately $1,398,271.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 23,363,315 shares of company stock worth $960,746,759. Company insiders own 3.49% of the company’s stock.

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.