Public Employees Retirement System of Ohio Invests $3.04 Million in Core & Main, Inc. $CNM

Public Employees Retirement System of Ohio bought a new stake in Core & Main, Inc. (NYSE:CNM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 63,086 shares of the company’s stock, valued at approximately $3,044,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Cubist Systematic Strategies LLC lifted its position in 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 purchasing an additional 524 shares during the period. AQR Capital Management LLC purchased a new stake in Core & Main in the 1st quarter valued at approximately $396,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Core & Main by 36.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,576 shares of the company’s stock worth $1,719,000 after purchasing an additional 9,534 shares during the period. Goldman Sachs Group Inc. increased its position in Core & Main by 23.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company’s stock worth $14,106,000 after purchasing an additional 54,854 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Core & Main by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after buying an additional 269 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CNM. Northcoast Research downgraded Core & Main from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 26th. William Blair began coverage on Core & Main in a report on Thursday, July 23rd. They issued a “market perform” rating for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $24.00 price target on shares of Core & Main in a research note on Thursday, June 11th. Citigroup cut their price target 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. Finally, Wall Street Zen cut shares of Core & Main from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and a consensus price target of $56.70.

Core & Main Stock Up 0.9%

Core & Main stock opened at $44.37 on Friday. Core & Main, Inc. has a fifty-two week low of $41.55 and a fifty-two week high of $67.18. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. The stock’s fifty day moving average is $44.88 and its two-hundred day moving average is $48.34. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 2.31.

Insider Transactions at Core & Main

In related news, Director James Hope acquired 2,067 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was purchased at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the transaction, the director directly owned 11,805 shares of the company’s stock, valued at approximately $543,148.05. This trade represents a 21.23% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.51% of the company’s stock.

About Core & Main

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.