Ritholtz Wealth Management Sells 4,599 Shares of Core & Main, Inc. $CNM

Ritholtz Wealth Management trimmed its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 51.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,341 shares of the company’s stock after selling 4,599 shares during the quarter. Ritholtz Wealth Management’s holdings in Core & Main were worth $262,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CNM. Jennison Associates LLC bought a new stake in Core & Main during the first quarter valued at approximately $54,742,000. Artemis Investment Management LLP grew its position in Core & Main by 109.6% during the first quarter. Artemis Investment Management LLP now owns 1,791,935 shares of the company’s stock valued at $86,568,000 after buying an additional 936,863 shares during the period. Nuveen LLC bought a new stake in Core & Main during the first quarter valued at approximately $44,028,000. Allspring Global Investments Holdings LLC bought a new stake in Core & Main during the second quarter valued at approximately $25,461,000. Finally, Driehaus Capital Management LLC grew its position in Core & Main by 253.6% during the first quarter. Driehaus Capital Management LLC now owns 482,128 shares of the company’s stock valued at $23,292,000 after buying an additional 345,763 shares during the period. 94.19% of the stock is currently owned by institutional investors.

Insider Activity at Core & Main

In other news, 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 value of $6,408,000.00. Following the transaction, the chief executive officer owned 35,847 shares of the company’s stock, valued at approximately $2,297,075.76. The trade was a 73.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.53% of the company’s stock.

Core & Main Price Performance

CNM stock opened at $53.91 on Wednesday. Core & Main, Inc. has a one year low of $41.64 and a one year high of $67.18. The company’s fifty day moving average price is $56.44 and its 200-day moving average price is $56.63. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.30 and a current ratio of 2.25. The company has a market capitalization of $10.64 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 2.06 and a beta of 0.98.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CNM shares. Zacks Research lowered shares of Core & Main from a “hold” rating to a “strong sell” rating in a research report on Monday, September 29th. Royal Bank Of Canada lowered their price target on shares of Core & Main from $67.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, September 10th. Truist Financial lowered their price target on shares of Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, September 11th. UBS Group assumed coverage on shares of Core & Main in a report on Monday, September 29th. They set a “buy” rating and a $65.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on shares of Core & Main from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. Seven 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.