State of Alaska Department of Revenue Has $1.08 Million Stock Position in Core & Main, Inc. (NYSE:CNM)

State of Alaska Department of Revenue raised its holdings in Core & Main, Inc. (NYSE:CNM) by 1.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,285 shares of the company’s stock after buying an additional 330 shares during the quarter. State of Alaska Department of Revenue’s holdings in Core & Main were worth $1,076,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Simon Quick Advisors LLC grew its holdings in shares of Core & Main by 8.4% during the 1st quarter. Simon Quick Advisors LLC now owns 15,914 shares of the company’s stock worth $769,000 after purchasing an additional 1,232 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Core & Main during the 1st quarter worth approximately $3,806,000. GAMMA Investing LLC grew its holdings in shares of Core & Main by 84.1% during the 1st quarter. GAMMA Investing LLC now owns 4,086 shares of the company’s stock worth $197,000 after purchasing an additional 1,867 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Core & Main by 134.6% during the 1st quarter. UMB Bank n.a. now owns 2,257 shares of the company’s stock worth $109,000 after purchasing an additional 1,295 shares in the last quarter. Finally, Sendero Wealth Management LLC grew its holdings in shares of Core & Main by 17.2% during the 1st quarter. Sendero Wealth Management LLC now owns 17,026 shares of the company’s stock worth $823,000 after purchasing an additional 2,497 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CNM. JPMorgan Chase & Co. lifted their price objective on Core & Main from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. Loop Capital lifted their price objective on Core & Main from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, June 11th. Robert W. Baird decreased their price target on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a research report on Tuesday, April 1st. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on Core & Main from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.55.

Core & Main Trading Up 0.7%

Shares of CNM opened at $59.34 on Friday. The stock has a fifty day moving average price of $54.55 and a two-hundred day moving average price of $52.37. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $60.38. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 1.74 and a beta of 1.02.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $0.49 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Core & Main

In other news, CAO John Weldon Stephens sold 10,214 shares of the business’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $53.02, for a total transaction of $541,546.28. Following the completion of the sale, the chief accounting officer now owns 4,120 shares in the company, valued at $218,442.40. The trade was a 71.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John R. Schaller sold 9,794 shares of the business’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $55.00, for a total value of $538,670.00. Following the sale, the executive vice president now owns 19,689 shares of the company’s stock, valued at approximately $1,082,895. The trade was a 33.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,666 shares of company stock worth $8,770,352. 3.53% of the stock is currently owned by insiders.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.