Core & Main, Inc. $CNM Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its holdings in Core & Main, Inc. (NYSE:CNM) by 42.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,362 shares of the company’s stock after selling 15,105 shares during the quarter. Russell Investments Group Ltd.’s holdings in Core & Main were worth $984,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Core & Main by 3.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company’s stock worth $343,000 after purchasing an additional 229 shares during the period. Truist Financial Corp lifted its holdings in shares of Core & Main by 21.2% during the first quarter. Truist Financial Corp now owns 705,339 shares of the company’s stock worth $34,075,000 after purchasing an additional 123,494 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Core & Main by 6.3% during the first quarter. Envestnet Asset Management Inc. now owns 159,896 shares of the company’s stock worth $7,725,000 after purchasing an additional 9,473 shares during the period. Perpetual Ltd lifted its holdings in shares of Core & Main by 12.4% during the first quarter. Perpetual Ltd now owns 223,671 shares of the company’s stock worth $10,806,000 after purchasing an additional 24,610 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings in shares of Core & Main by 53.7% during the first quarter. New York State Teachers Retirement System now owns 86,679 shares of the company’s stock worth $4,187,000 after purchasing an additional 30,286 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CNM shares. Royal Bank Of Canada lifted their target price on Core & Main from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, June 10th. JPMorgan Chase & Co. lifted their target price on Core & Main from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. Loop Capital reaffirmed a “hold” rating and set a $68.00 target price on shares of Core & Main in a report on Monday, July 28th. Citigroup lifted their target price on Core & Main from $56.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, June 10th. Finally, Wells Fargo & Company lifted their price target on Core & Main from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.00.

Insiders Place Their Bets

In other news, insider Stephen O. Leclair sold 44,972 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $61.91, for a total value of $2,784,216.52. Following the completion of the sale, the insider directly owned 70,736 shares in the company, valued at $4,379,265.76. The trade was a 38.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James G. Castellano sold 43,994 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $61.98, for a total value of $2,726,748.12. Following the completion of the sale, the director owned 4,638 shares of the company’s stock, valued at $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. Over the last three months, insiders sold 518,651 shares of company stock valued at $31,915,085. 3.53% of the stock is owned by insiders.

Core & Main Stock Down 0.7%

Shares of CNM stock opened at $64.70 on Friday. The stock has a 50 day moving average of $63.14 and a 200 day moving average of $55.59. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. The stock has a market cap of $12.75 billion, a P/E ratio of 30.09, a P/E/G ratio of 1.92 and a beta of 1.04. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $66.27.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Core & Main had a return on equity of 23.55% and a net margin of 5.47%.Core & Main’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $0.49 earnings per share. Core & Main has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

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.