Mutual of America Capital Management LLC Makes New $3.10 Million Investment in Core & Main, Inc. (NYSE:CNM)

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

Several other hedge funds have also bought and sold shares of CNM. Norges Bank purchased a new stake in shares of Core & Main during the 4th quarter valued at about $108,023,000. Morgan Stanley raised its position in shares of Core & Main by 423.6% during the 4th quarter. Morgan Stanley now owns 3,526,994 shares of the company’s stock valued at $68,106,000 after buying an additional 2,853,438 shares in the last quarter. FMR LLC raised its position in shares of Core & Main by 51.1% during the 3rd quarter. FMR LLC now owns 7,865,719 shares of the company’s stock valued at $226,926,000 after buying an additional 2,660,097 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Core & Main during the 4th quarter valued at about $91,771,000. Finally, Robeco Schweiz AG purchased a new stake in shares of Core & Main during the 1st quarter valued at about $51,950,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Insider Activity

In other news, VP Jeffrey D. Giles sold 40,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $44.14, for a total transaction of $1,765,600.00. Following the transaction, the vice president now directly owns 8,217 shares in the company, valued at $362,698.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Stephen O. Leclair sold 150,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $44.14, for a total transaction of $6,621,000.00. Following the completion of the sale, the chief executive officer now owns 73,692 shares of the company’s stock, valued at $3,252,764.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeffrey D. Giles sold 40,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $44.14, for a total transaction of $1,765,600.00. Following the sale, the vice president now directly owns 8,217 shares of the company’s stock, valued at approximately $362,698.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,363,315 shares of company stock worth $960,746,759. Corporate insiders own 3.49% of the company’s stock.

Core & Main Price Performance

Shares of CNM stock opened at $54.58 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30. The company has a market capitalization 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 company’s 50-day simple moving average is $51.74 and its two-hundred day simple moving average is $41.54. Core & Main, Inc. has a one year low of $24.83 and a one year high of $60.83.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the firm earned $0.31 EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities analysts anticipate that Core & Main, Inc. will post 2.59 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CNM. JPMorgan Chase & Co. upped their target price 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. Citigroup downgraded shares of Core & Main from a “buy” rating to a “neutral” rating and upped their price target for the company from $63.00 to $64.00 in a report on Friday, April 5th. The Goldman Sachs Group upped their price target on shares of Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, March 26th. Royal Bank of Canada upped their price target on shares of Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, Barclays upped their price target on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $50.08.

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.