Core & Main, Inc. $CNM Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in Core & Main, Inc. (NYSE:CNM) by 5.7% during the 2nd quarter, Holdings Channel reports. The firm owned 57,709 shares of the company’s stock after acquiring an additional 3,131 shares during the quarter. Teacher Retirement System of Texas’ holdings in Core & Main were worth $3,483,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CNM. Bessemer Group Inc. boosted its position in shares of Core & Main by 0.4% in the 2nd quarter. Bessemer Group Inc. now owns 3,371,475 shares of the company’s stock worth $203,467,000 after buying an additional 14,244 shares in the last quarter. Fiduciary Management Inc. WI raised its position in Core & Main by 0.3% during the first quarter. Fiduciary Management Inc. WI now owns 2,841,734 shares of the company’s stock worth $137,284,000 after acquiring an additional 8,052 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Core & Main by 12.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,232,542 shares of the company’s stock worth $107,857,000 after acquiring an additional 244,500 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Core & Main by 6.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,781,525 shares of the company’s stock valued at $86,065,000 after purchasing an additional 114,760 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Core & Main by 2.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,453,304 shares of the company’s stock worth $70,209,000 after purchasing an additional 28,089 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

Shares of NYSE:CNM opened at $52.10 on Friday. The company has a market cap of $10.29 billion, a P/E ratio of 23.26, a P/E/G ratio of 2.04 and a beta of 0.98. The business has a fifty day simple moving average of $54.60 and a 200-day simple moving average of $57.01. Core & Main, Inc. has a 52 week low of $41.64 and a 52 week high of $67.18. The company has a quick ratio of 1.30, a current ratio of 2.25 and a debt-to-equity ratio of 1.14.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.12 billion. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $0.61 EPS. Core & Main has set its FY 2025 guidance at EPS. Equities research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CNM shares. The Goldman Sachs Group cut their price objective on Core & Main from $68.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. Royal Bank Of Canada reduced their price objective on Core & Main from $67.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 10th. Citigroup decreased their price objective on Core & Main from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 10th. Loop Capital reissued a “hold” rating and issued a $68.00 target price on shares of Core & Main in a research note on Monday, July 28th. Finally, UBS Group assumed coverage on shares of Core & Main in a report on Monday, September 29th. They issued a “buy” rating and a $65.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.64.

Insider Activity

In related news, CEO Mark R. Witkowski sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $64.08, for a total value of $6,408,000.00. Following the completion of the sale, the chief executive officer directly owned 35,847 shares in the company, valued at approximately $2,297,075.76. The trade was a 73.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.53% of the company’s stock.

Core & Main Company 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.