Royal Bank of Canada Has $12.17 Million Stake in Core & Main, Inc. $CNM

Royal Bank of Canada lifted its position in shares of Core & Main, Inc. (NYSE:CNM) by 45.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 251,875 shares of the company’s stock after acquiring an additional 79,282 shares during the quarter. Royal Bank of Canada owned approximately 0.13% of Core & Main worth $12,168,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in Core & Main by 447.1% during the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock worth $31,000 after buying an additional 532 shares during the period. Rossby Financial LCC acquired a new position in Core & Main during the 1st quarter worth about $37,000. CWM LLC lifted its holdings in Core & Main by 34.0% during the 1st quarter. CWM LLC now owns 839 shares of the company’s stock worth $41,000 after buying an additional 213 shares during the period. Versant Capital Management Inc lifted its holdings in Core & Main by 1,491.8% during the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company’s stock worth $56,000 after buying an additional 1,089 shares during the period. Finally, Summit Securities Group LLC acquired a new position in Core & Main during the 1st quarter worth about $72,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Performance

Shares of Core & Main stock opened at $49.52 on Friday. Core & Main, Inc. has a one year low of $38.66 and a one year high of $67.18. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 1.45 and a beta of 1.04. The business has a 50-day simple moving average of $63.12 and a 200 day simple moving average of $56.02. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.25 and a quick ratio of 1.10.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, September 9th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.12 billion. During the same period in the previous year, the company posted $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. On average, research analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

CNM has been the topic of several recent research reports. Citigroup cut their target price on Core & Main from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday. Barclays dropped their price objective on Core & Main from $69.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday. Royal Bank Of Canada dropped their price objective on Core & Main from $67.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday. Loop Capital reissued a “hold” rating and issued a $68.00 price objective on shares of Core & Main in a research note on Monday, July 28th. Finally, Wells Fargo & Company dropped their price objective on Core & Main from $70.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.30.

Insiders Place Their Bets

In other Core & Main news, Director James G. Castellano sold 43,994 shares of the business’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 completion of the sale, the director directly owned 4,638 shares of the company’s stock, valued at approximately $287,463.24. The trade was a 90.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark R. Witkowski sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $64.08, for a total value 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. This represents a 73.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 422,956 shares of company stock worth $26,343,241 over the last three months. Insiders own 3.53% of the company’s stock.

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.