Vanguard Personalized Indexing Management LLC Acquires 2,546 Shares of Core & Main, Inc. $CNM

Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 23.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 13,178 shares of the company’s stock after acquiring an additional 2,546 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Core & Main were worth $795,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in CNM. GAMMA Investing LLC increased its holdings in Core & Main by 84.1% in the first quarter. GAMMA Investing LLC now owns 4,086 shares of the company’s stock valued at $197,000 after purchasing an additional 1,867 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Core & Main by 1.5% during the first quarter. State of Alaska Department of Revenue now owns 22,285 shares of the company’s stock worth $1,076,000 after buying an additional 330 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of 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 during the period. Perpetual Ltd grew its position in shares of Core & Main by 12.4% during the 1st quarter. Perpetual Ltd now owns 223,671 shares of the company’s stock worth $10,806,000 after buying an additional 24,610 shares during the period. Finally, Artemis Investment Management LLP increased its stake in shares of Core & Main by 109.6% in the 1st quarter. Artemis Investment Management LLP now owns 1,791,935 shares of the company’s stock valued at $86,568,000 after acquiring an additional 936,863 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analysts Set New Price Targets

CNM has been the subject of a number of analyst reports. Loop Capital restated a “hold” rating and set a $68.00 price objective on shares of Core & Main in a report on Monday, July 28th. Barclays decreased their price target on shares of Core & Main from $69.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, September 10th. UBS Group initiated coverage on Core & Main in a research note on Monday, September 29th. They set a “buy” rating and a $65.00 price objective on the stock. Wells Fargo & Company lifted their target price on Core & Main from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Finally, The Goldman Sachs Group lowered their price target on Core & Main from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.64.

Insider Activity at Core & Main

In related news, CEO Mark R. Witkowski sold 100,000 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $64.08, for a total value of $6,408,000.00. Following the completion of the transaction, the chief executive officer directly owned 35,847 shares of the company’s stock, valued at approximately $2,297,075.76. This trade represents a 73.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.53% of the company’s stock.

Core & Main Stock Up 0.7%

Shares of CNM stock opened at $52.58 on Tuesday. The firm’s fifty day moving average price is $56.67 and its two-hundred day moving average price is $56.65. The company has a current ratio of 2.25, a quick ratio of 1.30 and a debt-to-equity ratio of 1.14. Core & Main, Inc. has a 1 year low of $41.64 and a 1 year high of $67.18. The firm has a market capitalization of $10.38 billion, a P/E ratio of 23.47, a PEG ratio of 2.05 and a beta of 0.98.

Core & Main (NYSE:CNM) last announced 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 company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter last year, the company earned $0.61 EPS. Core & Main’s revenue for the quarter was up 6.6% compared to the same quarter last year. Core & Main has set its FY 2025 guidance at EPS. On average, equities analysts predict that Core & Main, Inc. will post 2.16 EPS 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.