Teacher Retirement System of Texas Increases Holdings in Core & Main, Inc. (NYSE:CNM)

Teacher Retirement System of Texas boosted its position in Core & Main, Inc. (NYSE:CNM) by 104.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 50,670 shares of the company’s stock after buying an additional 25,851 shares during the period. Teacher Retirement System of Texas’ holdings in Core & Main were worth $2,580,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal London Asset Management Ltd. increased its position in shares of Core & Main by 1.3% in the fourth quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company’s stock valued at $194,005,000 after buying an additional 48,833 shares in the last quarter. Algebris UK Ltd purchased a new position in Core & Main during the 4th quarter valued at about $833,000. Chesapeake Capital Corp IL acquired a new position in Core & Main during the fourth quarter worth about $223,000. Enhancing Capital LLC purchased a new stake in shares of Core & Main in the fourth quarter valued at about $1,611,000. Finally, Xponance Inc. grew its position in shares of Core & Main by 3.9% in the fourth quarter. Xponance Inc. now owns 33,160 shares of the company’s stock valued at $1,688,000 after purchasing an additional 1,249 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Price Performance

Core & Main stock opened at $49.50 on Thursday. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The firm has a 50 day moving average price of $52.10 and a 200 day moving average price of $48.73. The company has a market cap of $9.83 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 2.61 and a beta of 1.05.

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

Insider Transactions at Core & Main

In other Core & Main news, President Bradford A. Cowles sold 12,500 shares of Core & Main stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the transaction, the president now directly owns 16,010 shares of the company’s stock, valued at $808,505. The trade was a 43.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John R. Schaller sold 21,868 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the sale, the executive vice president now directly owns 16,452 shares of the company’s stock, valued at $770,282.64. The trade was a 57.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,294 shares of company stock worth $9,383,685 in the last three months. 3.49% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CNM shares. 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 research note on Tuesday, February 4th. The Goldman Sachs Group upped their price objective on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Robert W. Baird dropped their price objective on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday. Royal Bank of Canada reduced their target price on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, 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 report on Wednesday, December 4th. 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 company. According to MarketBeat, Core & Main presently has an average rating of “Moderate Buy” and a consensus price target of $57.30.

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.