New York State Common Retirement Fund Purchases 16,370 Shares of Core & Main, Inc. (NYSE:CNM)

New York State Common Retirement Fund increased its stake in Core & Main, Inc. (NYSE:CNM) by 16.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 about 0.06% of Core & Main worth $5,874,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Eagle Asset Management Inc. raised its holdings in shares of Core & Main by 2.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock worth $74,979,000 after acquiring an additional 44,282 shares during the last quarter. Quest Partners LLC grew its position in shares of Core & Main by 1,195,600.0% during the 3rd quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock valued at $531,000 after purchasing an additional 11,956 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Core & Main during the third quarter valued at approximately $774,000. South Street Advisors LLC boosted its holdings in shares of Core & Main by 36.0% in the 3rd quarter. South Street Advisors LLC now owns 234,144 shares of the company’s stock worth $10,396,000 after purchasing an additional 61,962 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC grew its holdings in shares of Core & Main by 23.3% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company’s stock valued at $3,120,000 after purchasing an additional 13,263 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Core & Main

In related news, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.49, for a total value of $2,524,500.00. Following the transaction, the general counsel now directly owns 7,667 shares of the company’s stock, valued at approximately $387,106.83. This trade represents a 86.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total value of $10,976,000.00. Following the transaction, the chief executive officer now owns 92,349 shares in the company, valued at approximately $5,068,113.12. This represents a 68.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 452,426 shares of company stock valued at $24,285,825. Corporate insiders own 3.49% of the company’s stock.

Core & Main Trading Up 0.5 %

CNM opened at $50.99 on Friday. The stock has a market capitalization of $10.13 billion, a PE ratio of 23.94, a P/E/G ratio of 2.61 and a beta of 1.03. 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 one year low of $37.22 and a one year high of $62.15. The business’s 50 day moving average price is $53.36 and its 200 day moving average price is $48.76.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. As a group, equities research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

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.