VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Core & Main, Inc. $CNM

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Core & Main, Inc. (NYSE:CNM) during the 4th quarter, HoldingsChannel.com reports. The firm bought 39,250 shares of the company’s stock, valued at approximately $2,040,000.

Several other institutional investors have also made changes to their positions in the business. Capital World Investors boosted its position in shares of Core & Main by 294.9% during the 3rd quarter. Capital World Investors now owns 5,948,134 shares of the company’s stock valued at $320,188,000 after acquiring an additional 4,442,047 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Core & Main by 10.7% during the 3rd quarter. First Trust Advisors LP now owns 3,835,835 shares of the company’s stock valued at $206,483,000 after acquiring an additional 369,200 shares in the last quarter. Impax Asset Management Group plc boosted its position in shares of Core & Main by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 2,872,595 shares of the company’s stock valued at $149,289,000 after acquiring an additional 279,373 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Core & Main by 0.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,850,232 shares of the company’s stock valued at $153,428,000 after acquiring an additional 26,799 shares in the last quarter. Finally, Samlyn Capital LLC boosted its position in shares of Core & Main by 5.9% during the 3rd quarter. Samlyn Capital LLC now owns 2,660,811 shares of the company’s stock valued at $143,231,000 after acquiring an additional 147,166 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Robyn L. Bradbury sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $52.54, for a total transaction of $262,700.00. Following the transaction, the chief financial officer directly owned 12,500 shares in the company, valued at approximately $656,750. This represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope bought 1,972 shares of Core & Main stock in a transaction dated Tuesday, April 7th. The shares were bought at an average price of $50.70 per share, for a total transaction of $99,980.40. Following the completion of the transaction, the director directly owned 6,939 shares of the company’s stock, valued at $351,807.30. This represents a 39.70% increase in their position. The SEC filing for this purchase provides additional information. 1.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CNM. Zacks Research lowered shares of Core & Main from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Barclays decreased their target price on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.64.

Core & Main Price Performance

NYSE:CNM opened at $46.88 on Friday. The firm has a market cap of $9.12 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.74 and a beta of 0.93. Core & Main, Inc. has a 12 month low of $43.96 and a 12 month high of $67.18. The company has a quick ratio of 1.51, a current ratio of 2.63 and a debt-to-equity ratio of 1.02. The company’s 50-day moving average price is $49.70 and its two-hundred day moving average price is $52.13.

Core & Main Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.