Core & Main, Inc. $CNM Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. decreased its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 32.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,499 shares of the company’s stock after selling 17,265 shares during the period. Vontobel Holding Ltd.’s holdings in Core & Main were worth $2,142,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bfsg LLC raised its holdings in Core & Main by 56.4% during the second quarter. Bfsg LLC now owns 560 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. Rossby Financial LCC acquired a new stake in Core & Main in the first quarter valued at about $37,000. Cubist Systematic Strategies LLC lifted its position in Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after purchasing an additional 524 shares during the period. CWM LLC lifted its position in Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after purchasing an additional 213 shares during the period. Finally, Steph & Co. acquired a new stake in Core & Main in the second quarter valued at about $53,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Trading Down 3.3%

Shares of Core & Main stock opened at $49.31 on Friday. Core & Main, Inc. has a 12-month low of $41.64 and a 12-month high of $67.18. The company has a current ratio of 2.25, a quick ratio of 1.30 and a debt-to-equity ratio of 1.14. The stock has a market cap of $9.74 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 1.93 and a beta of 0.98. The company has a 50-day moving average of $58.13 and a two-hundred day moving average of $56.46.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. Core & Main had a net margin of 5.57% and a return on equity of 25.44%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period last year, the company posted $0.61 earnings per share. The firm’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, research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Core & Main

In other news, Director Orvin T. Kimbrough sold 23,962 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $61.77, for a total transaction of $1,480,132.74. Following the completion of the transaction, the director directly owned 13,958 shares of the company’s stock, valued at $862,185.66. This trade represents a 63.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James G. Castellano sold 43,994 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $61.98, for a total transaction of $2,726,748.12. Following the transaction, the director directly owned 4,638 shares of the company’s stock, valued at approximately $287,463.24. This trade represents a 90.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 272,956 shares of company stock valued at $17,063,431. Company insiders own 3.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CNM. UBS Group began coverage on shares of Core & Main in a research report on Monday, September 29th. They issued a “buy” rating and a $65.00 price objective for the company. Royal Bank Of Canada reduced their price objective on shares of Core & Main from $67.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, September 10th. Zacks Research downgraded shares of Core & Main from a “hold” rating to a “strong sell” rating in a research report on Monday, September 29th. Truist Financial dropped their target price on shares of Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, September 11th. Finally, The Goldman Sachs Group dropped their target price on shares of Core & Main from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.27.

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.