New Mexico Educational Retirement Board Acquires 3,900 Shares of Core & Main, Inc. (NYSE:CNM)

New Mexico Educational Retirement Board raised its holdings in Core & Main, Inc. (NYSE:CNM) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,600 shares of the company’s stock after acquiring an additional 3,900 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Core & Main were worth $2,016,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNM. Ashton Thomas Securities LLC bought a new position in Core & Main in the third quarter valued at approximately $26,000. Avior Wealth Management LLC boosted its stake in Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after acquiring an additional 271 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Core & Main in the third quarter valued at approximately $49,000. UMB Bank n.a. boosted its position in shares of Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after purchasing an additional 684 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Core & Main by 187.4% during the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after purchasing an additional 830 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

Core & Main Stock Up 0.3 %

Shares of CNM stock opened at $54.22 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. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The firm’s fifty day moving average price is $53.40 and its two-hundred day moving average price is $48.56. The firm has a market capitalization of $10.77 billion, a P/E ratio of 25.46, a PEG ratio of 2.75 and a beta of 1.03.

Core & Main (NYSE:CNM) last released its quarterly earnings data 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 company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. Core & Main’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. On average, equities analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CNM has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price target on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Barclays lifted their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Citigroup lifted their price target on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Loop Capital lifted their price target on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their price objective on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $57.60.

Insider Transactions at Core & Main

In related news, President Bradford A. Cowles sold 50,000 shares of Core & Main stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the completion of the sale, the president now owns 18,423 shares of the company’s stock, valued at approximately $1,014,554.61. The trade was a 73.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of Core & Main stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total transaction of $109,142.46. Following the sale, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. The trade was a 20.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 452,426 shares of company stock worth $24,285,825 in the last ninety days. Insiders own 3.49% of the company’s stock.

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.