Core & Main, Inc. (NYSE:CNM) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in shares of Core & Main, Inc. (NYSE:CNM) by 37.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,393 shares of the company’s stock after selling 33,585 shares during the quarter. New York State Teachers Retirement System’s holdings in Core & Main were worth $2,871,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Core & Main during the 3rd quarter valued at $26,000. Avior Wealth Management LLC grew its holdings in Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after buying an additional 271 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after purchasing an additional 684 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Core & Main during the third quarter worth $49,000. Finally, Blue Trust Inc. boosted its holdings in shares of Core & Main by 187.4% during the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after purchasing an additional 830 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CNM shares. Loop Capital raised their price objective on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Truist Financial raised their price objective on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their target price on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 target price (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their target price on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and a consensus price target of $57.60.

Core & Main Price Performance

Shares of CNM stock opened at $50.97 on Friday. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The company has a market capitalization of $10.13 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 2.66 and a beta of 1.03. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The firm has a fifty day simple moving average of $53.44 and a 200-day simple moving average of $48.70.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the business posted $0.65 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. Equities research analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the transaction, the general counsel now owns 7,667 shares in the company, valued at $423,908.43. The trade was a 20.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the completion of the transaction, the chief executive officer now owns 92,349 shares in the company, valued at $5,068,113.12. This represents a 68.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 452,426 shares of company stock worth $24,285,825 in the last quarter. 3.49% of the stock is owned by corporate insiders.

About Core & Main

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.