Bell Asset Management Ltd Sells 41,489 Shares of Core & Main, Inc. $CNM

Bell Asset Management Ltd reduced its stake in shares of Core & Main, Inc. (NYSE:CNM) by 32.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 85,918 shares of the company’s stock after selling 41,489 shares during the period. Core & Main makes up 1.1% of Bell Asset Management Ltd’s investment portfolio, making the stock its 29th biggest position. Bell Asset Management Ltd’s holdings in Core & Main were worth $5,185,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CWM LLC raised its position in Core & Main by 34.0% during the first quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after purchasing an additional 213 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Core & Main during the 1st quarter valued at about $1,119,000. HB Wealth Management LLC bought a new position in shares of Core & Main during the 1st quarter valued at about $227,000. Mackenzie Financial Corp raised its holdings in shares of Core & Main by 39.6% during the 1st quarter. Mackenzie Financial Corp now owns 626,340 shares of the company’s stock valued at $30,258,000 after buying an additional 177,538 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in Core & Main by 6.3% in the 1st quarter. Natixis Advisors LLC now owns 55,938 shares of the company’s stock worth $2,703,000 after buying an additional 3,316 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group decreased their price target on shares of Core & Main from $68.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Barclays reduced their target price on shares of Core & Main from $69.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, September 10th. Wells Fargo & Company boosted their price target on shares of Core & Main from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Royal Bank Of Canada reduced 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, September 10th. Finally, UBS Group began coverage on Core & Main in a report on Monday, September 29th. They issued a “buy” rating and a $65.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Core & Main presently has a consensus rating of “Moderate Buy” and an average target price of $60.64.

Core & Main Price Performance

Shares of Core & Main stock opened at $48.04 on Thursday. The firm has a market cap of $9.48 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 1.84 and a beta of 0.98. Core & Main, Inc. has a 12-month low of $43.17 and a 12-month high of $67.18. 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 company’s fifty day simple moving average is $50.69 and its two-hundred day simple moving average is $56.60.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, September 9th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.79 by $0.08. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.12 billion. Core & Main had a net margin of 5.57% and a return on equity of 25.44%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. Core & Main has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Core & Main, Inc. will post 2.16 EPS for the current 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.