Retirement Systems of Alabama Invests $6.91 Million in Core & Main, Inc. (NYSE:CNM)

Retirement Systems of Alabama bought a new stake in Core & Main, Inc. (NYSE:CNMFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 171,107 shares of the company’s stock, valued at approximately $6,914,000. Retirement Systems of Alabama owned about 0.08% of Core & Main at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CNM. Renaissance Capital LLC raised its stake in shares of Core & Main by 59.0% in the fourth quarter. Renaissance Capital LLC now owns 85,574 shares of the company’s stock worth $3,458,000 after acquiring an additional 31,740 shares during the last quarter. State of Michigan Retirement System acquired a new stake in shares of Core & Main in the fourth quarter valued at approximately $1,325,000. Exchange Traded Concepts LLC raised its position in Core & Main by 328.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 78,854 shares of the company’s stock worth $3,186,000 after purchasing an additional 60,435 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Core & Main by 4.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,734,897 shares of the company’s stock worth $70,107,000 after buying an additional 73,790 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new position in Core & Main in the 4th quarter valued at $1,805,000. 94.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Core & Main

In related news, VP Jeffrey D. Giles sold 40,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $44.14, for a total transaction of $1,765,600.00. Following the sale, the vice president now directly owns 8,217 shares in the company, valued at $362,698.38. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Jeffrey D. Giles sold 40,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.14, for a total transaction of $1,765,600.00. Following the completion of the transaction, the vice president now directly owns 8,217 shares in the company, valued at $362,698.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP John Weldon Stephens sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $50.02, for a total value of $55,022.00. Following the completion of the sale, the vice president now owns 3,468 shares in the company, valued at approximately $173,469.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 520,500 shares of company stock valued at $25,511,067. 3.49% of the stock is currently owned by corporate insiders.

Core & Main Stock Performance

Shares of Core & Main stock opened at $58.52 on Friday. The stock’s fifty day simple moving average is $54.36 and its 200 day simple moving average is $43.53. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $11.78 billion, a PE ratio of 27.22, a PEG ratio of 1.79 and a beta of 1.14. Core & Main, Inc. has a 12 month low of $26.08 and a 12 month high of $60.83.

Core & Main (NYSE:CNMGet Free Report) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the firm posted $0.31 earnings per share. Core & Main’s revenue was up 4.8% compared to the same quarter last year. On average, research analysts predict that Core & Main, Inc. will post 2.59 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CNM shares. Loop Capital boosted their target price on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group upped their target price on shares of Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, March 26th. Truist Financial reiterated a “hold” rating and set a $38.00 price target on shares of Core & Main in a research report on Wednesday, March 20th. Barclays boosted their price target on shares of Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Finally, Citigroup cut shares of Core & Main from a “buy” rating to a “neutral” rating and raised their price objective for the company from $63.00 to $64.00 in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.08.

Read Our Latest Stock Analysis on Core & Main

Core & Main Company Profile

(Free Report)

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

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Institutional Ownership by Quarter for Core & Main (NYSE:CNM)

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