California Public Employees Retirement System Sells 104,976 Shares of Core & Main, Inc. (NYSE:CNM)

California Public Employees Retirement System decreased its position in shares of Core & Main, Inc. (NYSE:CNM) by 28.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 260,788 shares of the company’s stock after selling 104,976 shares during the period. California Public Employees Retirement System’s holdings in Core & Main were worth $13,277,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. US Bancorp DE increased its holdings in shares of Core & Main by 12.3% in the fourth quarter. US Bancorp DE now owns 1,795 shares of the company’s stock worth $91,000 after buying an additional 197 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in Core & Main by 4.8% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock valued at $286,000 after purchasing an additional 258 shares during the last quarter. Avior Wealth Management LLC lifted its position 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 purchasing an additional 271 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Core & Main by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 5,871 shares of the company’s stock valued at $299,000 after purchasing an additional 287 shares during the period. Finally, Arizona State Retirement System grew its holdings in shares of Core & Main by 0.6% in the fourth quarter. Arizona State Retirement System now owns 55,910 shares of the company’s stock worth $2,846,000 after purchasing an additional 360 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Insider Transactions at Core & Main

In other news, CAO John Weldon Stephens sold 41,963 shares of Core & Main stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total value of $2,118,292.24. Following the completion of the transaction, the chief accounting officer now owns 4,120 shares of the company’s stock, valued at $207,977.60. The trade was a 91.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Bradford A. Cowles sold 12,500 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the sale, the president now directly owns 16,010 shares in the company, valued at $808,505. This trade represents a 43.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 226,257 shares of company stock valued at $11,501,977 in the last ninety days. 3.49% of the stock is currently owned by corporate insiders.

Core & Main Stock Performance

Shares of Core & Main stock opened at $46.12 on Friday. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The firm has a market capitalization of $9.13 billion, a P/E ratio of 21.65, a P/E/G ratio of 2.61 and a beta of 1.05. 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 business has a fifty day simple moving average of $51.06 and a two-hundred day simple moving average of $49.15.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company’s revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. On average, equities analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Robert W. Baird dropped their price target on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, March 26th. Royal Bank of Canada cut their target price on Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a research report on Tuesday, April 1st. They set a “buy” rating and a $60.00 price target for the company. Citigroup lifted their price objective on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. 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 report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and an average target price of $57.55.

About Core & Main

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.