Core & Main, Inc. (NYSE:CNM) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 28.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 260,788 shares of the company's stock after selling 104,976 shares during the period. California Public Employees Retirement System owned approximately 0.13% of Core & Main worth $13,277,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Captrust Financial Advisors lifted its stake in Core & Main by 11.6% in the third quarter. Captrust Financial Advisors now owns 29,444 shares of the company's stock worth $1,307,000 after purchasing an additional 3,066 shares during the last quarter. Redwood Investment Management LLC lifted its stake in Core & Main by 4.1% in the third quarter. Redwood Investment Management LLC now owns 29,488 shares of the company's stock worth $1,350,000 after purchasing an additional 1,164 shares during the last quarter. State Street Corp lifted its stake in Core & Main by 9.7% in the third quarter. State Street Corp now owns 5,522,009 shares of the company's stock worth $245,177,000 after purchasing an additional 489,224 shares during the last quarter. DF Dent & Co. Inc. lifted its stake in Core & Main by 26.9% in the third quarter. DF Dent & Co. Inc. now owns 837,693 shares of the company's stock worth $37,194,000 after purchasing an additional 177,595 shares during the last quarter. Finally, Zimmer Partners LP lifted its stake in Core & Main by 535.6% in the third quarter. Zimmer Partners LP now owns 1,303,000 shares of the company's stock worth $57,853,000 after purchasing an additional 1,098,000 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

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Core & Main Price Performance

Shares of CNM stock traded down $0.90 on Thursday, reaching $48.17. 275,352 shares of the company were exchanged, compared to its average volume of 2,282,618. The company has a market cap of $9.53 billion, a price-to-earnings ratio of 22.61, a P/E/G ratio of 2.61 and a beta of 1.05. The business has a 50-day moving average price of $50.05 and a 200 day moving average price of $49.20. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the prior year, the company posted $0.34 EPS. The firm's revenue was up 17.9% on a year-over-year basis. Equities research analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Activity at Core & Main

In other news, President Bradford A. Cowles sold 12,500 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.50, for a total value of $631,250.00. Following the completion of the sale, the president now owns 16,010 shares of the company's stock, valued at $808,505. This represents a 43.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total transaction of $109,142.46. Following the completion of the sale, the general counsel now directly owns 7,667 shares of the company's stock, valued at approximately $423,908.43. This trade represents a 20.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 226,257 shares of company stock valued at $11,501,977. Corporate insiders own 3.49% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CNM. Royal Bank of Canada decreased their price target on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. Wells Fargo & Company lifted their price target on shares of Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Citigroup lifted their price target on shares of Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Core & Main in a report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective on the stock. Finally, Robert W. Baird dropped their price objective on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Core & Main currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.55.

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.