Core & Main, Inc. $CNM Stake Reduced by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in shares of Core & Main, Inc. (NYSE:CNM) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,255 shares of the company’s stock after selling 1,030 shares during the quarter. State of Alaska Department of Revenue’s holdings in Core & Main were worth $1,282,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Enhancing Capital LLC grew its stake in Core & Main by 0.6% during the 1st quarter. Enhancing Capital LLC now owns 31,846 shares of the company’s stock worth $1,538,000 after buying an additional 196 shares during the last quarter. Bfsg LLC grew its stake in shares of Core & Main by 56.4% in 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. CWM LLC grew its stake in shares of Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company’s stock worth $41,000 after purchasing an additional 213 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Core & Main by 3.3% in 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 in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in shares of Core & Main by 2.6% in the first quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company’s stock worth $527,000 after purchasing an additional 272 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Loop Capital reissued a “hold” rating and issued a $68.00 price target on shares of Core & Main in a research note on Monday, July 28th. JPMorgan Chase & Co. decreased their price target on Core & Main from $64.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, September 10th. Royal Bank Of Canada decreased their price target on Core & Main from $67.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, September 10th. Citigroup decreased their price target on Core & Main from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, September 10th. Finally, UBS Group began coverage on Core & Main in a research note on Monday, September 29th. They issued a “buy” rating and a $65.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.27.

Insider Buying and Selling at Core & Main

In other news, CEO Mark R. Witkowski sold 100,000 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $64.08, for a total transaction of $6,408,000.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen O. Leclair sold 44,972 shares of the company’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $61.91, for a total value of $2,784,216.52. Following the sale, the insider directly owned 70,736 shares of the company’s stock, valued at approximately $4,379,265.76. This represents a 38.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 317,928 shares of company stock valued at $19,847,647 over the last 90 days. 3.53% of the stock is owned by insiders.

Core & Main Trading Down 1.1%

Shares of NYSE CNM opened at $52.58 on Friday. Core & Main, Inc. has a 12 month low of $41.60 and a 12 month high of $67.18. The company has a market cap of $10.38 billion, a price-to-earnings ratio of 23.47, a P/E/G ratio of 2.06 and a beta of 0.98. The company has a quick ratio of 1.30, a current ratio of 2.25 and a debt-to-equity ratio of 1.14. The business has a fifty day simple moving average of $59.47 and a 200-day simple moving average of $56.40.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, September 9th. The company reported $0.87 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $2.12 billion. During the same period in the prior year, the business posted $0.61 earnings per share. Core & Main’s revenue was up 6.6% compared to the same quarter last year. Core & Main has set its FY 2025 guidance at EPS. Sell-side analysts predict 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.