Core & Main, Inc. (NYSE:CNM) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 104.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,670 shares of the company's stock after buying an additional 25,851 shares during the quarter. Teacher Retirement System of Texas' holdings in Core & Main were worth $2,580,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Royal London Asset Management Ltd. boosted its position in Core & Main by 1.3% during the 4th quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company's stock worth $194,005,000 after purchasing an additional 48,833 shares during the period. Algebris UK Ltd acquired a new position in shares of Core & Main during the fourth quarter worth about $833,000. Chesapeake Capital Corp IL purchased a new stake in shares of Core & Main in the fourth quarter worth about $223,000. Enhancing Capital LLC acquired a new stake in shares of Core & Main in the fourth quarter valued at about $1,611,000. Finally, Xponance Inc. raised its holdings in shares of Core & Main by 3.9% during the 4th quarter. Xponance Inc. now owns 33,160 shares of the company's stock valued at $1,688,000 after buying an additional 1,249 shares during the period. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CNM. Robert W. Baird lowered their price objective on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday. Royal Bank of Canada decreased their target price 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. 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 research note on Tuesday, February 4th. Truist Financial upped their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a "hold" rating in a report on Wednesday, December 4th. Finally, Loop Capital raised their price objective on shares of Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Core & Main has an average rating of "Moderate Buy" and an average target price of $57.30.

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Core & Main Stock Performance

Shares of NYSE:CNM traded down $1.47 on Friday, reaching $48.46. 2,285,425 shares of the company's stock were exchanged, compared to its average volume of 2,270,730. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The business's 50-day moving average is $51.87 and its two-hundred day moving average is $48.95. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.61 and a beta of 1.05.

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

Insider Activity at Core & Main

In other Core & Main news, President Bradford A. Cowles sold 12,500 shares of the firm's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.50, for a total value of $631,250.00. Following the sale, the president now directly owns 16,010 shares in the company, valued at approximately $808,505. This trade represents a 43.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John R. Schaller sold 21,868 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the transaction, the executive vice president now owns 16,452 shares of the company's stock, valued at $770,282.64. This represents a 57.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 184,294 shares of company stock worth $9,383,685 in the last 90 days. 3.49% of the stock is currently owned by company insiders.

Core & Main 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.