Core & Main, Inc. (NYSE:CNM) Position Increased by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its holdings in Core & Main, Inc. (NYSE:CNM) by 3.8% during the 3rd quarter, Holdings Channel reports. The fund owned 89,978 shares of the company’s stock after acquiring an additional 3,318 shares during the quarter. New York State Teachers Retirement System’s holdings in Core & Main were worth $3,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new stake in Core & Main during the third quarter valued at approximately $31,000. ORG Partners LLC purchased a new position in shares of Core & Main during the 1st quarter valued at $38,000. GAMMA Investing LLC lifted its holdings in shares of Core & Main by 61.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after buying an additional 511 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in Core & Main during the second quarter valued at approximately $76,000. Finally, CWM LLC lifted its position in shares of Core & Main by 25.6% in the second quarter. CWM LLC now owns 1,638 shares of the company’s stock worth $80,000 after buying an additional 334 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CNM. JPMorgan Chase & Co. cut their target price on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Royal Bank of Canada dropped their price objective on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company started coverage on Core & Main in a research report on Monday, September 23rd. They issued an “overweight” rating and a $52.00 price objective on the stock. Loop Capital dropped their price objective on Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Finally, Robert W. Baird raised their price target on Core & Main from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.20.

Core & Main Price Performance

Shares of NYSE CNM opened at $47.12 on Thursday. The business’s 50 day moving average price is $43.88 and its two-hundred day moving average price is $49.85. Core & Main, Inc. has a twelve month low of $29.60 and a twelve month high of $62.15. The company has a market cap of $9.48 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 2.81 and a beta of 1.02. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.05 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. On average, analysts predict that Core & Main, Inc. will post 2.1 EPS for the current year.

About Core & Main

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.