Hunter Perkins Capital Management LLC Sells 1,790 Shares of Core & Main, Inc. $CNM

Hunter Perkins Capital Management LLC trimmed its holdings in Core & Main, Inc. (NYSE:CNM) by 17.2% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 8,595 shares of the company’s stock after selling 1,790 shares during the quarter. Hunter Perkins Capital Management LLC’s holdings in Core & Main were worth $519,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in shares of Core & Main by 447.1% during the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock valued at $31,000 after acquiring an additional 532 shares during the last quarter. Bfsg LLC boosted its holdings in Core & Main by 56.4% in the second quarter. Bfsg LLC now owns 560 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after purchasing an additional 524 shares during the period. Rossby Financial LCC purchased a new stake in Core & Main during the 1st quarter valued at $37,000. Finally, CWM LLC lifted its holdings in shares of Core & Main by 34.0% during the 1st quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after buying an additional 213 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Insider Activity

In other news, Director James G. Castellano sold 43,994 shares of the business’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $61.98, for a total value of $2,726,748.12. Following the transaction, the director directly owned 4,638 shares in the company, valued at $287,463.24. The trade was a 90.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Orvin T. Kimbrough sold 23,962 shares of the company’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $61.77, for a total value of $1,480,132.74. Following the completion of the transaction, the director directly owned 13,958 shares of the company’s stock, valued at approximately $862,185.66. This trade represents a 63.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 272,956 shares of company stock worth $17,063,431. 3.53% of the stock is currently owned by corporate insiders.

Core & Main Trading Down 1.1%

Core & Main stock opened at $52.58 on Monday. Core & Main, Inc. has a 12-month low of $41.60 and a 12-month high of $67.18. The firm has a market capitalization of $10.38 billion, a price-to-earnings ratio of 23.47, a P/E/G ratio of 2.06 and a beta of 0.98. The firm has a 50 day moving average of $59.47 and a 200 day moving average of $56.46. The company has a current ratio of 2.25, a quick ratio of 1.30 and a debt-to-equity ratio of 1.14.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.12 billion. Core & Main had a net margin of 5.57% and a return on equity of 25.44%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. Core & Main has set its FY 2025 guidance at EPS. As a group, research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analyst Weigh In

CNM has been the topic of several research reports. JPMorgan Chase & Co. dropped their target price on Core & Main from $64.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 10th. Citigroup cut their target price on shares of 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 downgraded shares of Core & Main from a “hold” rating to a “strong sell” rating in a research report on Monday, September 29th. 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. Finally, Truist Financial cut their price objective on shares of Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, September 11th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.27.

Core & Main Company Profile

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.