54,700 Shares in Core & Main, Inc. $CNM Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in Core & Main, Inc. (NYSE:CNM) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 54,700 shares of the company’s stock, valued at approximately $2,702,000.

Other institutional investors have also modified their holdings of the company. TD Waterhouse Canada Inc. acquired a new stake in Core & Main in the fourth quarter valued at $26,000. EverSource Wealth Advisors LLC raised its stake in Core & Main by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 269 shares in the last quarter. Whittier Trust Co. bought a new stake in shares of Core & Main during the 4th quarter worth about $28,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after buying an additional 524 shares during the period. Finally, Quarry LP acquired a new stake in Core & Main in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup decreased their target price on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft cut their price objective on Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Barclays cut their target price on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $24.00 price target on shares of Core & Main in a report on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $57.73.

Core & Main Trading Down 0.3%

CNM stock opened at $48.98 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31. The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 1.70 and a beta of 0.91. Core & Main, Inc. has a fifty-two week low of $43.96 and a fifty-two week high of $67.18. The business has a fifty day moving average price of $48.96 and a 200 day moving average price of $52.04.

Core & Main (NYSE:CNM) last announced its earnings results on Wednesday, June 10th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.19. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. Core & Main had a net margin of 5.87% and a return on equity of 26.17%. Core & Main’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 earnings per share. Analysts expect that Core & Main, Inc. will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling at Core & Main

In other Core & Main news, Director James D. Hope bought 1,972 shares of the firm’s stock in a transaction on Tuesday, April 7th. The stock was purchased at an average cost of $50.70 per share, with a total value of $99,980.40. Following the completion of the purchase, the director owned 6,939 shares in the company, valued at approximately $351,807.30. The trade was a 39.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $52.54, for a total transaction of $262,700.00. Following the sale, the chief financial officer owned 12,500 shares in the company, valued at $656,750. This trade represents a 28.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.51% of the stock is owned by company insiders.

Core & Main Company 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.