Teacher Retirement System of Texas Boosts Holdings in Core & Main, Inc. $CNM

Teacher Retirement System of Texas boosted its stake in Core & Main, Inc. (NYSE:CNM) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,709 shares of the company’s stock after acquiring an additional 3,131 shares during the period. Teacher Retirement System of Texas’ holdings in Core & Main were worth $3,483,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CNM. Enhancing Capital LLC increased its position in shares of Core & Main by 0.6% during the first quarter. Enhancing Capital LLC now owns 31,846 shares of the company’s stock worth $1,538,000 after purchasing an additional 196 shares in the last quarter. Bfsg LLC lifted its stake in Core & Main by 56.4% in the second quarter. Bfsg LLC now owns 560 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the last quarter. CWM LLC boosted its holdings in shares of Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after acquiring an additional 213 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Core & Main by 3.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company’s stock valued at $343,000 after acquiring an additional 229 shares during the period. Finally, Crossmark Global Holdings Inc. grew its position in shares of Core & Main by 2.6% during the first quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company’s stock worth $527,000 after acquiring an additional 272 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Activity at Core & Main

In related news, CEO Mark R. Witkowski sold 100,000 shares of the firm’s stock in a transaction dated 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 owned 35,847 shares in the company, valued at $2,297,075.76. This trade represents a 73.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.53% of the stock is owned by company insiders.

Core & Main Stock Down 0.4%

CNM opened at $52.10 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.25 and a quick ratio of 1.30. Core & Main, Inc. has a 12 month low of $41.64 and a 12 month high of $67.18. The stock has a market capitalization 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 50 day simple moving average of $54.60 and a 200-day simple moving average of $57.01.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, September 9th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.08. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.Core & Main’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 earnings per share. Core & Main has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CNM. Loop Capital reiterated a “hold” rating and set a $68.00 price target on shares of Core & Main in a research note on Monday, July 28th. Citigroup decreased their price objective on Core & Main from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, September 10th. Zacks Research cut Core & Main from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. The Goldman Sachs Group decreased their price target on Core & Main from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Finally, Wells Fargo & Company boosted their price objective on shares of Core & Main from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.64.

About Core & Main

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.