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New York State Common Retirement Fund Reduces Stock Position in Core & Main, Inc. (NYSE:CNM)

Core & Main logo with Industrials background

New York State Common Retirement Fund decreased its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 10.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,611 shares of the company's stock after selling 11,773 shares during the quarter. New York State Common Retirement Fund owned 0.05% of Core & Main worth $5,005,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Core & Main by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock worth $927,580,000 after purchasing an additional 221,970 shares during the period. FMR LLC increased its stake in shares of Core & Main by 4.1% in the fourth quarter. FMR LLC now owns 9,055,993 shares of the company's stock worth $461,041,000 after purchasing an additional 358,909 shares during the period. Invesco Ltd. increased its stake in shares of Core & Main by 0.8% in the fourth quarter. Invesco Ltd. now owns 5,926,569 shares of the company's stock worth $301,722,000 after purchasing an additional 44,513 shares during the period. Bessemer Group Inc. increased its stake in shares of Core & Main by 0.5% in the fourth quarter. Bessemer Group Inc. now owns 3,835,182 shares of the company's stock worth $195,250,000 after purchasing an additional 20,756 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Core & Main by 38.4% in the fourth quarter. First Trust Advisors LP now owns 3,328,182 shares of the company's stock worth $169,438,000 after purchasing an additional 923,287 shares during the period. Institutional investors and hedge funds own 94.19% of the company's stock.

Core & Main Stock Performance

Shares of CNM traded up $0.56 during mid-day trading on Friday, hitting $65.73. 1,535,613 shares of the company's stock were exchanged, compared to its average volume of 1,800,000. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $65.94. The stock's 50-day simple moving average is $58.82 and its 200-day simple moving average is $53.93. The firm has a market cap of $12.96 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.92 and a beta of 1.04. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 1.23.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.52. The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.84 billion. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. On average, equities research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

CNM has been the topic of several research reports. Loop Capital boosted their price target on Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Citigroup boosted their price target on Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Royal Bank Of Canada boosted their price target on Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a research note on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $60.00.

Get Our Latest Stock Analysis on CNM

Insider Transactions at Core & Main

In related news, CFO Robyn L. Bradbury sold 5,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $64.51, for a total value of $322,550.00. Following the transaction, the chief financial officer owned 8,555 shares in the company, valued at $551,883.05. The trade was a 36.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen O. Leclair sold 44,972 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $61.91, for a total transaction of $2,784,216.52. Following the completion of the transaction, the insider owned 70,736 shares in the company, valued at approximately $4,379,265.76. The trade was a 38.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 438,659 shares of company stock valued at $26,587,301. Corporate insiders own 3.53% of the company's stock.

About Core & Main

(Free Report)

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.

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

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