Arizona State Retirement System Purchases 360 Shares of Core & Main, Inc. (NYSE:CNM)

Arizona State Retirement System grew its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,910 shares of the company’s stock after buying an additional 360 shares during the quarter. Arizona State Retirement System’s holdings in Core & Main were worth $2,846,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNM. FMR LLC boosted its holdings in Core & Main by 28.0% during the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after acquiring an additional 1,903,280 shares during the period. State Street Corp boosted its stake in shares of Core & Main by 9.7% during the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock valued at $245,177,000 after purchasing an additional 489,224 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Core & Main by 1.0% during the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock valued at $188,710,000 after purchasing an additional 41,521 shares during the period. Royal London Asset Management Ltd. grew its holdings in shares of Core & Main by 39.9% in the third quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock worth $167,029,000 after purchasing an additional 1,073,451 shares during the last quarter. Finally, Impax Asset Management Group plc increased its stake in Core & Main by 70.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock worth $174,661,000 after buying an additional 1,416,907 shares during the period. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Mark G. Whittenburg sold 50,000 shares of Core & Main stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.49, for a total value of $2,524,500.00. Following the transaction, the general counsel now owns 7,667 shares of the company’s stock, valued at $387,106.83. The trade was a 86.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Bradford A. Cowles sold 25,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the sale, the president now directly owns 16,010 shares of the company’s stock, valued at $872,224.80. The trade was a 60.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 162,426 shares of company stock worth $8,359,825. 3.49% of the stock is owned by corporate insiders.

Core & Main Trading Up 0.4 %

CNM opened at $47.89 on Monday. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The firm has a market cap of $9.51 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The stock has a fifty day moving average price of $53.03 and a 200-day moving average price of $48.65.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Royal Bank of Canada restated an “outperform” rating and set a $62.00 price objective (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Wells Fargo & Company upped their target price on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Truist Financial increased their price target on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.60.

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.