Core & Main, Inc. $CNM Position Raised by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its position in shares of Core & Main, Inc. (NYSE:CNM) by 16.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,129 shares of the company’s stock after acquiring an additional 7,880 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Core & Main were worth $3,387,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of CNM. Envestnet Asset Management Inc. boosted its stake in Core & Main by 6.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 159,896 shares of the company’s stock valued at $7,725,000 after purchasing an additional 9,473 shares during the period. Alps Advisors Inc. acquired a new stake in shares of Core & Main in the first quarter valued at approximately $363,000. Xponance Inc. raised its holdings in shares of Core & Main by 1.1% during the first quarter. Xponance Inc. now owns 33,523 shares of the company’s stock valued at $1,619,000 after buying an additional 363 shares during the last quarter. CWM LLC boosted its position in shares of Core & Main by 34.0% during the first quarter. CWM LLC now owns 839 shares of the company’s stock worth $41,000 after buying an additional 213 shares during the period. Finally, Jennison Associates LLC bought a new position in Core & Main in the 1st quarter worth approximately $54,742,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insiders Place Their Bets

In other Core & Main 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 transaction of $6,408,000.00. Following the sale, the chief executive officer directly owned 35,847 shares of the company’s stock, valued at $2,297,075.76. The trade was a 73.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.53% of the company’s stock.

Core & Main Price Performance

NYSE CNM opened at $49.01 on Thursday. The business’s fifty day moving average is $52.36 and its two-hundred day moving average is $57.04. The stock has a market capitalization of $9.68 billion, a P/E ratio of 21.88, a P/E/G ratio of 1.96 and a beta of 0.98. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.30 and a current ratio of 2.25. Core & Main, Inc. has a 1 year low of $41.64 and a 1 year high of $67.18.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, September 9th. The company reported $0.87 earnings per share (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 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 company earned $0.61 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Core & Main has set its FY 2025 guidance at EPS. On average, research analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on CNM shares. Zacks Research raised Core & Main from a “strong sell” rating to a “hold” rating in a research note on Monday. Barclays lowered their price target on Core & Main from $69.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, September 10th. Wells Fargo & Company upped their price objective on shares of Core & Main from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Truist Financial decreased their target price 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. Finally, Loop Capital reissued a “hold” rating and set a $68.00 target price on shares of Core & Main in a research note on Monday, July 28th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.64.

Core & Main 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.