New York State Teachers Retirement System Purchases 30,286 Shares of Core & Main, Inc. (NYSE:CNM)

New York State Teachers Retirement System lifted its position in Core & Main, Inc. (NYSE:CNM) by 53.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 86,679 shares of the company’s stock after buying an additional 30,286 shares during the quarter. New York State Teachers Retirement System’s holdings in Core & Main were worth $4,187,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. US Bancorp DE boosted its position in Core & Main by 12.3% during the fourth quarter. US Bancorp DE now owns 1,795 shares of the company’s stock worth $91,000 after purchasing an additional 197 shares during the period. Jones Financial Companies Lllp bought a new stake in Core & Main during the fourth quarter worth approximately $122,000. Charles Schwab Investment Management Inc. boosted its position in Core & Main by 7.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company’s stock worth $84,855,000 after purchasing an additional 122,240 shares during the period. Aigen Investment Management LP bought a new stake in Core & Main during the fourth quarter worth approximately $222,000. Finally, Arizona State Retirement System boosted its position in Core & Main by 0.6% during the fourth quarter. Arizona State Retirement System now owns 55,910 shares of the company’s stock worth $2,846,000 after purchasing an additional 360 shares during the period. Institutional investors own 94.19% of the company’s stock.

Insider Activity

In other Core & Main news, EVP John R. Schaller sold 9,794 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $55.00, for a total transaction of $538,670.00. Following the completion of the transaction, the executive vice president directly owned 19,689 shares in the company, valued at $1,082,895. This represents a 33.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Laura K. Schneider sold 45,695 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $56.25, for a total value of $2,570,343.75. Following the completion of the sale, the insider owned 12,873 shares of the company’s stock, valued at approximately $724,106.25. This trade represents a 78.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,703 shares of company stock valued at $8,164,310. 3.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CNM shares. Royal Bank Of Canada upped their target price on Core & Main from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research report on Tuesday, April 1st. They issued a “buy” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Core & Main from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, May 27th. Robert W. Baird reduced their price objective on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company raised their target price on Core & Main from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Core & Main has an average rating of “Moderate Buy” and an average price target of $59.55.

Core & Main Stock Performance

Core & Main stock opened at $62.33 on Monday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.96 and a quick ratio of 1.10. The stock has a fifty day moving average price of $55.86 and a two-hundred day moving average price of $52.77. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.47. The firm has a market capitalization of $12.29 billion, a P/E ratio of 28.99, a P/E/G ratio of 1.84 and a beta of 1.04.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting 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 analyst estimates of $1.84 billion. During the same period in the prior year, the company posted $0.49 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

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.