Core & Main, Inc. $CNM Shares Sold by American Century Companies Inc.

American Century Companies Inc. lowered its position in shares of Core & Main, Inc. (NYSE:CNM) by 8.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,087,784 shares of the company’s stock after selling 104,854 shares during the quarter. American Century Companies Inc. owned approximately 0.55% of Core & Main worth $65,648,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen LLC purchased a new position in shares of Core & Main in the 1st quarter worth $44,028,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Core & Main in the second quarter worth $25,461,000. Handelsbanken Fonder AB grew its position in shares of Core & Main by 14.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 2,823,433 shares of the company’s stock worth $170,394,000 after acquiring an additional 351,219 shares in the last quarter. Driehaus Capital Management LLC grew its position in shares of Core & Main by 253.6% during the 1st quarter. Driehaus Capital Management LLC now owns 482,128 shares of the company’s stock valued at $23,292,000 after buying an additional 345,763 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Core & Main by 30.0% during the 2nd quarter. Jennison Associates LLC now owns 1,472,571 shares of the company’s stock worth $88,870,000 after buying an additional 339,431 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Trading Up 2.1%

NYSE:CNM opened at $48.04 on Friday. The company has a market capitalization of $9.48 billion, a P/E ratio of 21.45, a P/E/G ratio of 1.88 and a beta of 0.98. The stock’s 50 day moving average price is $50.65 and its 200 day moving average price is $56.54. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.30 and a current ratio of 2.25. Core & Main, Inc. has a 52 week low of $43.17 and a 52 week high of $67.18.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, September 9th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.79 by $0.08. Core & Main had a net margin of 5.57% and a return on equity of 25.44%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. The company’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, research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup lowered their price target on Core & Main from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, September 10th. Truist Financial reduced their price objective on Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, September 11th. 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 report on Wednesday, September 10th. The Goldman Sachs Group cut their price target on shares of Core & Main from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, September 12th. Finally, UBS Group started coverage on shares of Core & Main in a research report on Monday, September 29th. They issued a “buy” rating and a $65.00 price target for the company. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.64.

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.