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

New York State Teachers Retirement System acquired a new stake in Core & Main, Inc. (NYSE:CNM) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 44,670 shares of the company’s stock, valued at approximately $1,805,000.

Several other institutional investors have also recently bought and sold shares of CNM. Norges Bank bought a new position in Core & Main in the 4th quarter valued at $108,023,000. Morgan Stanley raised its position in 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 during the last quarter. FMR LLC raised its position in 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 during the last quarter. Pacer Advisors Inc. bought a new position in Core & Main in the 4th quarter valued at $91,771,000. Finally, Robeco Schweiz AG bought a new position in Core & Main in the 1st quarter valued at $51,950,000. Institutional investors own 94.19% of the company’s stock.

Core & Main Trading Up 0.6 %

NYSE CNM opened at $55.47 on Wednesday. The stock has a 50-day simple moving average of $51.25 and a 200 day simple moving average of $41.35. The company has a market capitalization of $11.17 billion, a PE ratio of 25.80, a P/E/G ratio of 1.74 and a beta of 1.15. The company has a current ratio of 2.29, a quick ratio of 1.30 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.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. Research analysts forecast that Core & Main, Inc. will post 2.59 EPS for the current year.

Analysts Set New Price Targets

CNM has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their target price on Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Royal Bank of Canada boosted their target price on Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. boosted their target price on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Loop Capital boosted their target price on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Citigroup downgraded Core & Main from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $64.00 in a research report on Friday, April 5th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.08.

Insider Buying and Selling at Core & Main

In other Core & Main news, CFO Mark R. Witkowski sold 50,000 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $58.51, for a total value of $2,925,500.00. Following the completion of the transaction, the chief financial officer now directly owns 23,898 shares of the company’s stock, valued at $1,398,271.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Core & Main news, CFO Mark R. Witkowski sold 50,000 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $58.51, for a total value of $2,925,500.00. Following the completion of the transaction, the chief financial officer now directly owns 23,898 shares of the company’s stock, valued at $1,398,271.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO John Weldon Stephens sold 15,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $57.91, for a total value of $868,650.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,281 shares of the company’s stock, valued at $247,912.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,363,315 shares of company stock valued at $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.