Texas Permanent School Fund Corp Has $8.55 Million Stake in Core & Main, Inc. (NYSE:CNM)

Texas Permanent School Fund Corp boosted its stake in Core & Main, Inc. (NYSE:CNM) by 26.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,290 shares of the company’s stock after buying an additional 31,242 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.07% of Core & Main worth $8,547,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Core & Main by 41.4% in the 4th quarter. Vanguard Group Inc. now owns 13,417,484 shares of the company’s stock valued at $542,201,000 after buying an additional 3,926,588 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Core & Main by 180.1% in the fourth quarter. Handelsbanken Fonder AB now owns 2,707,385 shares of the company’s stock worth $109,405,000 after purchasing an additional 1,740,685 shares in the last quarter. Artemis Investment Management LLP boosted its stake in Core & Main by 148.0% in the first quarter. Artemis Investment Management LLP now owns 2,650,209 shares of the company’s stock worth $151,655,000 after purchasing an additional 1,581,389 shares in the last quarter. First Trust Advisors LP boosted its stake in Core & Main by 2.8% in the fourth quarter. First Trust Advisors LP now owns 2,403,921 shares of the company’s stock worth $97,142,000 after purchasing an additional 66,575 shares in the last quarter. Finally, Fiduciary Management Inc. WI boosted its stake in Core & Main by 11.4% in the fourth quarter. Fiduciary Management Inc. WI now owns 2,302,158 shares of the company’s stock worth $93,030,000 after purchasing an additional 236,488 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Trading Up 2.8 %

NYSE CNM traded up $1.37 on Thursday, reaching $50.83. The company had a trading volume of 1,354,497 shares, compared to its average volume of 2,563,633. The stock’s 50 day moving average is $53.81 and its 200-day moving average is $50.21. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.88 and a beta of 1.06. The company has a quick ratio of 1.23, a current ratio of 2.14 and a debt-to-equity ratio of 1.46. Core & Main, Inc. has a 52 week low of $27.75 and a 52 week high of $62.15.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, June 4th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.02). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. Equities analysts predict that Core & Main, Inc. will post 2.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CNM has been the topic of a number of recent analyst reports. Truist Financial reduced their price objective on Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday, June 5th. Barclays upped their price target on Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group upped their price target on Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. JPMorgan Chase & Co. upped their price target on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $60.00 price target on shares of Core & Main in a research note on Wednesday, June 5th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $52.90.

Insiders Place Their Bets

In other Core & Main news, CAO John Weldon Stephens sold 5,503 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $54.23, for a total value of $298,427.69. Following the completion of the sale, the chief accounting officer now directly owns 4,281 shares in the company, valued at $232,158.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $54.08, for a total transaction of $2,704,000.00. Following the completion of the transaction, the general counsel now directly owns 12,933 shares in the company, valued at $699,416.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO John Weldon Stephens sold 5,503 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $54.23, for a total value of $298,427.69. Following the transaction, the chief accounting officer now owns 4,281 shares of the company’s stock, valued at $232,158.63. The disclosure for this sale can be found here. Insiders sold 115,000 shares of company stock worth $6,501,567 over the last ninety days. 3.49% of the stock is currently owned by corporate insiders.

Core & Main Company Profile

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.