SG Americas Securities LLC Decreases Position in Core & Main, Inc. $CNM

SG Americas Securities LLC trimmed its stake in shares of Core & Main, Inc. (NYSE:CNM) by 59.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 31,780 shares of the company’s stock after selling 46,994 shares during the quarter. SG Americas Securities LLC’s holdings in Core & Main were worth $1,918,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of Core & Main by 0.5% during the second quarter. Geode Capital Management LLC now owns 3,472,477 shares of the company’s stock valued at $209,597,000 after purchasing an additional 18,874 shares during the period. Bessemer Group Inc. raised its holdings in Core & Main by 0.4% during the 2nd quarter. Bessemer Group Inc. now owns 3,371,475 shares of the company’s stock valued at $203,467,000 after buying an additional 14,244 shares during the last quarter. Fiduciary Management Inc. WI boosted its position in Core & Main by 0.3% during the 1st quarter. Fiduciary Management Inc. WI now owns 2,841,734 shares of the company’s stock valued at $137,284,000 after buying an additional 8,052 shares during the period. Dimensional Fund Advisors LP boosted its position in Core & Main by 12.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,232,542 shares of the company’s stock valued at $107,857,000 after buying an additional 244,500 shares during the period. Finally, KBC Group NV grew its holdings in Core & Main by 17.2% in the 2nd quarter. KBC Group NV now owns 2,022,207 shares of the company’s stock worth $122,040,000 after acquiring an additional 296,397 shares during the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Stock Down 0.7%

Shares of NYSE:CNM opened at $45.37 on Thursday. Core & Main, Inc. has a 52-week low of $43.17 and a 52-week high of $67.18. The firm has a market capitalization of $8.96 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.79 and a beta of 0.98. The stock has a 50 day moving average price of $51.03 and a 200-day moving average price of $56.80. 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 (NYSE:CNM) last released its quarterly earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.08. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.12 billion. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.The firm’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 earnings per share. Core & Main has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CNM shares. The Goldman Sachs Group lowered their price objective on shares of Core & Main from $68.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. Truist Financial lowered their price target on Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, September 11th. UBS Group assumed coverage on Core & Main in a research report on Monday, September 29th. They issued a “buy” rating and a $65.00 price objective on the stock. Barclays reduced their target price on Core & Main from $69.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 10th. Finally, Zacks Research raised Core & Main from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Core & Main has a consensus rating of “Moderate Buy” and a consensus price target of $60.64.

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.