DekaBank Deutsche Girozentrale Purchases 12,847 Shares of Core & Main, Inc. $CNM

DekaBank Deutsche Girozentrale increased its position in Core & Main, Inc. (NYSE:CNM) by 89.0% during the second quarter, Holdings Channel.com reports. The firm owned 27,276 shares of the company’s stock after buying an additional 12,847 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Core & Main were worth $1,702,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bfsg LLC raised its position in Core & Main by 56.4% in the 2nd quarter. Bfsg LLC now owns 560 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the last quarter. Rossby Financial LCC purchased a new stake in Core & Main in the 1st quarter valued at $37,000. Cubist Systematic Strategies LLC raised 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 valued at $35,000 after buying an additional 524 shares during the last quarter. CWM LLC raised its position in Core & Main by 34.0% in 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 last quarter. Finally, Steph & Co. purchased a new stake in Core & Main in the 2nd quarter valued at $53,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Barclays lowered their price target on Core & Main from $69.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, September 10th. The Goldman Sachs Group decreased their target price on Core & Main from $68.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. Wells Fargo & Company raised their target price on Core & Main from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Royal Bank Of Canada cut their price target on Core & Main from $67.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, September 10th. Finally, UBS Group initiated coverage on Core & Main in a research note on Monday, September 29th. They set a “buy” rating and a $65.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and an average price target of $60.64.

Core & Main Stock Up 0.3%

Shares of NYSE CNM opened at $54.65 on Friday. Core & Main, Inc. has a 52 week low of $41.64 and a 52 week high of $67.18. The business has a 50-day simple moving average of $55.79 and a two-hundred day simple moving average of $56.82. The company has a quick ratio of 1.30, a current ratio of 2.25 and a debt-to-equity ratio of 1.14. The company has a market cap of $10.79 billion, a P/E ratio of 24.40, a P/E/G ratio of 2.14 and a beta of 0.98.

Core & Main (NYSE:CNM) last issued 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 return on equity of 25.44% and a net margin of 5.57%.The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter last year, the company earned $0.61 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. Core & Main has set its FY 2025 guidance at EPS. Research analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Mark R. Witkowski sold 100,000 shares of Core & Main stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $64.08, for a total transaction of $6,408,000.00. Following the completion of the sale, the chief executive officer owned 35,847 shares in the company, valued at approximately $2,297,075.76. This trade represents a 73.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.53% of the company’s stock.

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.