Core & Main, Inc. (NYSE:CNM) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 16.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 115,384 shares of the company's stock after acquiring an additional 16,370 shares during the quarter. New York State Common Retirement Fund owned 0.06% of Core & Main worth $5,874,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in CNM. Ashton Thomas Securities LLC purchased a new position in shares of Core & Main in the third quarter valued at approximately $26,000. Avior Wealth Management LLC lifted its stake in shares of Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock worth $41,000 after buying an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Core & Main in the third quarter valued at approximately $49,000. UMB Bank n.a. boosted its stake in 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 buying an additional 684 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock valued at $65,000 after buying an additional 830 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company's stock.

Insider Activity at Core & Main

In related news, EVP Jeffrey D. Giles sold 25,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.71, for a total transaction of $1,367,750.00. Following the completion of the sale, the executive vice president now owns 11,615 shares in the company, valued at $635,456.65. This represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of Core & Main stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total value 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 trade represents a 68.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 452,426 shares of company stock valued at $24,285,825 over the last 90 days. 3.49% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

Several research analysts have recently commented on CNM shares. Truist Financial lifted their price target on Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Loop Capital boosted their target price on shares of Core & Main from $52.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Barclays raised their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. The Goldman Sachs Group upped their price objective on Core & Main from $50.00 to $57.00 and gave the company a "neutral" rating in a report on Thursday, December 5th. Finally, Robert W. Baird raised their target price on Core & Main from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.60.

Core & Main Trading Down 3.6 %

CNM traded down $1.81 during mid-day trading on Monday, hitting $49.20. 1,129,256 shares of the stock were exchanged, compared to its average volume of 2,274,325. The firm's fifty day moving average is $53.37 and its two-hundred day moving average is $48.76. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The company has a market cap of $9.77 billion, a PE ratio of 23.07, a PEG ratio of 2.61 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.

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

Core & Main Company Profile

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.