Lmcg Investments LLC Sells 4,326 Shares of Core & Main, Inc. $CNM

Lmcg Investments LLC decreased its holdings in Core & Main, Inc. (NYSE:CNM) by 4.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 103,350 shares of the company’s stock after selling 4,326 shares during the quarter. Lmcg Investments LLC’s holdings in Core & Main were worth $6,237,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CNM. Bfsg LLC raised its stake 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 buying an additional 202 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after buying an additional 524 shares in the last quarter. Rossby Financial LCC bought a new position in Core & Main in the first quarter worth approximately $37,000. CWM LLC raised its stake in Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company’s stock worth $41,000 after buying an additional 213 shares in the last quarter. Finally, Steph & Co. bought a new position in Core & Main in the second quarter worth approximately $53,000. Institutional investors own 94.19% of the company’s stock.

Insider Activity at Core & Main

In other news, CFO Robyn L. Bradbury sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $64.51, for a total transaction of $322,550.00. Following the sale, the chief financial officer directly owned 8,555 shares of the company’s stock, valued at $551,883.05. The trade was a 36.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Witkowski sold 100,000 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $64.08, for a total transaction of $6,408,000.00. Following the sale, the chief executive officer directly 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 disclosure for this sale can be found here. Insiders sold 272,956 shares of company stock valued at $17,063,431 over the last three months. 3.53% of the stock is owned by corporate insiders.

Core & Main Price Performance

Shares of CNM opened at $49.31 on Friday. The firm has a market capitalization of $9.74 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98. 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 1-year low of $41.64 and a 1-year high of $67.18. The company’s fifty day moving average price is $58.13 and its 200-day moving average price is $56.42.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Tuesday, September 9th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The firm had revenue of $2.09 billion for 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 business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 earnings per share. Core & Main has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Core & Main, Inc. will post 2.16 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CNM shares. JPMorgan Chase & Co. reduced their price target 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. The Goldman Sachs Group reduced their price target on Core & Main from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, September 12th. Citigroup reduced their price target on Core & Main from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 10th. UBS Group started coverage on Core & Main in a research report on Monday, September 29th. They set a “buy” rating and a $65.00 price target on the stock. Finally, Barclays reduced their price target on Core & Main from $69.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 10th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.27.

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.