Core & Main, Inc. (NYSE:CNM) Shares Bought by Arizona State Retirement System

Arizona State Retirement System raised its position in shares of Core & Main, Inc. (NYSE:CNM – Get Rating) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,954 shares of the company’s stock after buying an additional 673 shares during the period. Arizona State Retirement System’s holdings in Core & Main were worth $366,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC purchased a new position in Core & Main in the third quarter valued at $45,000. Assetmark Inc. boosted its holdings in Core & Main by 33.8% in the third quarter. Assetmark Inc. now owns 2,158 shares of the company’s stock valued at $49,000 after purchasing an additional 545 shares during the period. MetLife Investment Management LLC purchased a new stake in Core & Main during the 1st quarter worth about $58,000. Convergence Investment Partners LLC purchased a new stake in Core & Main during the 3rd quarter worth about $124,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Core & Main during the 4th quarter worth about $137,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Core & Main

In other news, President Bradford A. Cowles sold 14,712 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $26.01, for a total transaction of $382,659.12. Following the sale, the president now owns 14,679 shares of the company’s stock, valued at approximately $381,800.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Mark G. Whittenburg sold 24,793 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $23.04, for a total value of $571,230.72. Following the sale, the general counsel now owns 5,286 shares of the company’s stock, valued at approximately $121,789.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Bradford A. Cowles sold 14,712 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $26.01, for a total value of $382,659.12. Following the completion of the sale, the president now directly owns 14,679 shares in the company, valued at approximately $381,800.79. The disclosure for this sale can be found here. Insiders have sold 14,768,760 shares of company stock valued at $328,301,341 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

Core & Main Stock Performance

NYSE CNM opened at $27.32 on Monday. The company has a current ratio of 3.05, a quick ratio of 1.60 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $24.27 and its two-hundred day moving average is $22.35. Core & Main, Inc. has a 12-month low of $18.75 and a 12-month high of $27.72. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of 12.83 and a beta of 0.83.

Core & Main (NYSE:CNM – Get Rating) last released its earnings results on Tuesday, April 4th. The company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. Core & Main had a return on equity of 20.64% and a net margin of 5.50%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. Research analysts expect that Core & Main, Inc. will post 1.87 EPS for the current year.

Analyst Upgrades and Downgrades

CNM has been the subject of a number of recent analyst reports. Loop Capital initiated coverage on Core & Main in a report on Monday, February 13th. They set a “buy” rating and a $28.00 price target for the company. Truist Financial lifted their target price on Core & Main from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, March 30th. The Goldman Sachs Group lifted their target price on Core & Main from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 4th. Deutsche Bank Aktiengesellschaft lifted their target price on Core & Main from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, April 3rd. Finally, Royal Bank of Canada lifted their target price on Core & Main from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 29th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and an average target price of $29.33.

Core & Main Profile

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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 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, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services.