California Public Employees Retirement System Sells 13,197 Shares of Core & Main, Inc. $CNM

California Public Employees Retirement System decreased its position in Core & Main, Inc. (NYSE:CNM) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,840 shares of the company’s stock after selling 13,197 shares during the period. California Public Employees Retirement System owned approximately 0.20% of Core & Main worth $19,604,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Assenagon Asset Management S.A. increased its position in Core & Main by 881.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 52,963 shares of the company’s stock valued at $2,752,000 after acquiring an additional 47,569 shares during the last quarter. KBC Group NV lifted its position in shares of Core & Main by 11.6% during the 4th quarter. KBC Group NV now owns 2,618,916 shares of the company’s stock valued at $136,105,000 after buying an additional 272,258 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in Core & Main by 10.8% during the fourth quarter. Impax Asset Management Group plc now owns 2,872,595 shares of the company’s stock valued at $149,289,000 after purchasing an additional 279,373 shares in the last quarter. Thomasville National Bank bought a new position in shares of Core & Main in the fourth quarter worth approximately $11,112,000. Finally, Oak Thistle LLC purchased a new stake in shares of Core & Main in the fourth quarter worth $509,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Core & Main

In other news, Director James D. Hope bought 2,067 shares of Core & Main stock in a transaction that occurred on Monday, July 6th. The stock was bought at an average price of $46.01 per share, for a total transaction of $95,102.67. Following the purchase, the director directly owned 11,805 shares of the company’s stock, valued at approximately $543,148.05. The trade was a 21.23% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Citigroup lowered their price objective on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $24.00 price target on shares of Core & Main in a report on Thursday, June 11th. Finally, Barclays reduced their price objective on Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.73.

Core & Main Trading Up 0.9%

Shares of NYSE CNM opened at $43.75 on Thursday. The business has a fifty day moving average price of $47.48 and a 200 day moving average price of $50.95. Core & Main, Inc. has a 1-year low of $42.50 and a 1-year high of $67.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31. The stock has a market capitalization of $8.47 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 1.50 and a beta of 0.91.

About Core & Main

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.