Core & Main, Inc. $CNM Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its stake in Core & Main, Inc. (NYSE:CNM) by 27.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 111,989 shares of the company’s stock after acquiring an additional 24,333 shares during the period. Illinois Municipal Retirement Fund’s holdings in Core & Main were worth $5,532,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

CNM has been the subject of several research reports. Barclays decreased their target price on Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Citigroup lowered their target price on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $24.00 target price on shares of Core & Main in a report on Thursday, June 11th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and an average price target of $57.73.

Core & Main Stock Down 0.9%

Shares of Core & Main stock opened at $45.38 on Friday. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00. The business’s 50 day simple moving average is $47.73 and its 200-day simple moving average is $51.15. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.59 and a beta of 0.91. Core & Main, Inc. has a twelve month low of $43.96 and a twelve month high of $67.18.

Insider Activity

In other Core & Main news, Director James D. Hope purchased 2,067 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was bought at an average price of $46.01 per share, with a total value of $95,102.67. Following the completion of the purchase, the director owned 11,805 shares in the company, valued at $543,148.05. This trade represents a 21.23% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.51% of the company’s stock.

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.