New York State Teachers Retirement System Has $4.19 Million Position in Core & Main, Inc. (NYSE:CNM)

New York State Teachers Retirement System lifted its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 53.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,679 shares of the company's stock after buying an additional 30,286 shares during the quarter. New York State Teachers Retirement System's holdings in Core & Main were worth $4,187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Monument Capital Management acquired a new position in Core & Main in the first quarter worth $2,799,000. KBC Group NV lifted its stake in Core & Main by 5.3% in the first quarter. KBC Group NV now owns 1,725,810 shares of the company's stock valued at $83,374,000 after buying an additional 86,672 shares during the last quarter. Border to Coast Pensions Partnership Ltd lifted its stake in Core & Main by 18.8% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 558,382 shares of the company's stock valued at $26,975,000 after buying an additional 88,540 shares during the last quarter. Artemis Investment Management LLP lifted its stake in Core & Main by 109.6% in the first quarter. Artemis Investment Management LLP now owns 1,791,935 shares of the company's stock valued at $86,568,000 after buying an additional 936,863 shares during the last quarter. Finally, Perpetual Ltd lifted its stake in Core & Main by 12.4% in the first quarter. Perpetual Ltd now owns 223,671 shares of the company's stock valued at $10,806,000 after buying an additional 24,610 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company's stock.

Core & Main Stock Up 0.0%

Shares of NYSE CNM traded up $0.02 during trading hours on Thursday, hitting $62.27. The stock had a trading volume of 2,546,937 shares, compared to its average volume of 2,286,279. The company has a market capitalization of $12.28 billion, a P/E ratio of 28.96, a P/E/G ratio of 1.84 and a beta of 1.04. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96. The firm's 50-day moving average price is $56.41 and its two-hundred day moving average price is $52.98. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $63.25.

Core & Main (NYSE:CNM - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.52. The firm had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.84 billion. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The company's revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. Analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Activity at Core & Main

In other news, CFO Robyn L. Bradbury sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $60.49, for a total transaction of $1,512,250.00. Following the completion of the transaction, the chief financial officer directly owned 8,555 shares in the company, valued at $517,491.95. The trade was a 74.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen O. Leclair sold 80,028 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $62.27, for a total value of $4,983,343.56. Following the completion of the transaction, the insider owned 70,736 shares of the company's stock, valued at $4,404,730.72. The trade was a 53.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 265,703 shares of company stock valued at $15,931,870. 3.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on CNM. Loop Capital raised their target price on Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Wells Fargo & Company lifted their price objective on shares of Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday. Robert W. Baird cut their price target on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target for the company. Finally, Citigroup lifted their price target on Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

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.