Fifth Third Bancorp Sells 3,643 Shares of Core & Main, Inc. $CNM

Fifth Third Bancorp trimmed its stake in Core & Main, Inc. (NYSE:CNM) by 28.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,210 shares of the company’s stock after selling 3,643 shares during the period. Fifth Third Bancorp’s holdings in Core & Main were worth $556,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CNM. Wealth Enhancement Advisory Services LLC bought a new position in shares of Core & Main in the 4th quarter worth $201,000. Versant Capital Management Inc raised its position in shares of Core & Main by 1,491.8% in the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company’s stock worth $56,000 after acquiring an additional 1,089 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Core & Main by 8,795.7% in the 1st quarter. GAMMA Investing LLC now owns 197,395 shares of the company’s stock worth $9,536,000 after acquiring an additional 195,176 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Core & Main by 447.1% in the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock worth $31,000 after acquiring an additional 532 shares in the last quarter. Finally, NBC Securities Inc. raised its position in shares of Core & Main by 94,918.2% in the 1st quarter. NBC Securities Inc. now owns 10,452 shares of the company’s stock worth $504,000 after acquiring an additional 10,441 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

Insider Buying and Selling at Core & Main

In other Core & Main news, Director Orvin T. Kimbrough sold 23,962 shares of the business’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $61.77, for a total transaction of $1,480,132.74. Following the sale, the director owned 13,958 shares in the company, valued at approximately $862,185.66. The trade was a 63.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $64.51, for a total value of $322,550.00. Following the sale, the chief financial officer owned 8,555 shares in the company, valued at approximately $551,883.05. The trade was a 36.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 397,956 shares of company stock worth $24,830,991. 3.53% of the stock is owned by corporate insiders.

Core & Main Stock Up 1.4%

Core & Main stock opened at $53.57 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.30 and a current ratio of 2.25. The business’s 50-day simple moving average is $60.45 and its two-hundred day simple moving average is $56.32. The company has a market cap of $10.58 billion, a PE ratio of 23.92, a PEG ratio of 2.07 and a beta of 1.04. Core & Main, Inc. has a fifty-two week low of $41.60 and a fifty-two week high of $67.18.

Core & Main (NYSE:CNM) last posted 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 business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.12 billion. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 EPS. Core & Main has set its FY 2025 guidance at EPS. Equities analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on CNM. Loop Capital reissued a “hold” rating and issued a $68.00 price target on shares of Core & Main in a research report on Monday, July 28th. Truist Financial reduced 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 started coverage on Core & Main in a research note on Monday. They set a “buy” rating and a $65.00 target price on the stock. Citigroup dropped their target price on Core & Main from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 10th. Finally, Wells Fargo & Company dropped their target price on Core & Main from $70.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 10th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Core & Main currently has an average rating of “Moderate Buy” and a consensus target price of $60.09.

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.