HB Wealth Management LLC Has $235,000 Stock Holdings in Core & Main, Inc. $CNM

HB Wealth Management LLC cut its holdings in Core & Main, Inc. (NYSE:CNM) by 17.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,888 shares of the company’s stock after selling 805 shares during the quarter. HB Wealth Management LLC’s holdings in Core & Main were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Enhancing Capital LLC increased its stake in shares of Core & Main by 0.6% in the first quarter. Enhancing Capital LLC now owns 31,846 shares of the company’s stock valued at $1,538,000 after buying an additional 196 shares in the last quarter. Bfsg LLC lifted its holdings in Core & Main by 56.4% during the 2nd quarter. Bfsg LLC now owns 560 shares of the company’s stock worth $34,000 after buying an additional 202 shares in the last quarter. 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 in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Core & Main by 3.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company’s stock worth $343,000 after buying an additional 229 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in Core & Main by 2.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company’s stock worth $527,000 after buying an additional 272 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Mark R. Witkowski sold 100,000 shares of Core & Main stock in a transaction dated 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 transaction, the chief executive officer owned 35,847 shares in the company, valued at $2,297,075.76. The trade was a 73.61% decrease in their position. The transaction 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 Core & Main stock in a transaction dated 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 transaction, the director owned 4,638 shares in the company, valued at $287,463.24. This trade represents a 90.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 272,956 shares of company stock worth $17,063,431. Company insiders own 3.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Loop Capital reiterated a “hold” rating and issued a $68.00 price target on shares of Core & Main in a report on Monday, July 28th. UBS Group assumed coverage on Core & Main in a report on Monday, September 29th. They issued a “buy” rating and a $65.00 price target on the stock. Wells Fargo & Company raised their price target on Core & Main from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. Truist Financial decreased their price target on Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, September 11th. Finally, JPMorgan Chase & Co. decreased their price target on Core & Main from $64.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, September 10th. Seven equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.27.

Core & Main Trading Down 1.5%

NYSE:CNM opened at $50.85 on Wednesday. Core & Main, Inc. has a fifty-two week low of $41.64 and a fifty-two week high of $67.18. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.25 and a quick ratio of 1.30. The stock has a market capitalization of $10.04 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 2.02 and a beta of 0.98. The business’s 50-day simple moving average is $58.91 and its 200-day simple moving average is $56.44.

Core & Main (NYSE:CNM) last released its quarterly earnings data 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. 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 for the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the previous year, the business posted $0.61 EPS. Core & Main’s revenue for the quarter was up 6.6% on a year-over-year basis. Core & Main has set its FY 2025 guidance at EPS. Sell-side analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

About Core & Main

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.