Teacher Retirement System of Texas Grows Position in Core & Main, Inc. (NYSE:CNM)

Teacher Retirement System of Texas boosted its position in Core & Main, Inc. (NYSE:CNM) by 104.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,670 shares of the company’s stock after acquiring 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.

A number of other institutional investors also recently added to or reduced their stakes in CNM. Charles Schwab Investment Management Inc. lifted its position in shares of Core & Main by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company’s stock worth $84,855,000 after purchasing an additional 122,240 shares during the last quarter. Impax Asset Management Group plc boosted its position in shares of Core & Main by 70.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock worth $174,661,000 after acquiring an additional 1,416,907 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Core & Main in the 3rd quarter valued at about $774,000. Asset Management One Co. Ltd. raised its position in shares of Core & Main by 13.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company’s stock worth $3,331,000 after acquiring an additional 7,565 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in Core & Main by 3.2% during the fourth quarter. Truist Financial Corp now owns 581,845 shares of the company’s stock worth $29,622,000 after purchasing an additional 17,899 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Stock Down 0.0 %

CNM opened at $49.50 on Thursday. The business has a 50 day moving average price of $52.10 and a two-hundred day moving average price of $48.73. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15. The company has a market cap of $9.83 billion, a PE ratio of 23.24, a P/E/G ratio of 2.61 and a beta of 1.05. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. As a group, research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Activity

In other Core & Main news, General Counsel Mark G. Whittenburg sold 50,000 shares of Core & Main stock in a transaction that occurred 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 sale, the general counsel now owns 7,667 shares of the company’s stock, valued at approximately $387,106.83. The trade was a 86.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Bradford A. Cowles sold 12,500 shares of the business’s stock in a transaction that occurred 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 transaction, the president now owns 16,010 shares in the company, valued at $808,505. The trade was a 43.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,294 shares of company stock valued at $9,383,685 over the last quarter. Corporate insiders own 3.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on CNM shares. The Goldman Sachs Group raised their price objective 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. Loop Capital boosted their price target on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays raised their price objective on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Robert W. Baird reduced their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company upped their target price on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.30.

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.