Core & Main (NYSE:CNM) Issues Earnings Results

Core & Main (NYSE:CNM - Get Free Report) issued its earnings results on Tuesday. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52, RTT News reports. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the prior year, the business earned $0.49 EPS. The firm's quarterly revenue was up 9.8% on a year-over-year basis. Core & Main updated its FY 2025 guidance to EPS.

Core & Main Stock Performance

Core & Main stock traded down $0.67 during mid-day trading on Friday, reaching $56.05. 1,750,816 shares of the company traded hands, compared to its average volume of 2,291,396. The firm's fifty day moving average is $52.95 and its two-hundred day moving average is $52.01. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 2.61 and a beta of 1.02. Core & Main has a fifty-two week low of $37.22 and a fifty-two week high of $60.38. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

Insiders Place Their Bets

In other Core & Main news, insider Laura K. Schneider sold 45,695 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the sale, the insider now owns 12,873 shares in the company, valued at approximately $724,106.25. The trade was a 78.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark G. Whittenburg sold 49,100 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $60.03, for a total value of $2,947,473.00. Following the completion of the transaction, the general counsel now directly owns 9,691 shares in the company, valued at $581,750.73. This represents a 83.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,666 shares of company stock valued at $8,770,352. Insiders own 3.53% of the company's stock.

Institutional Investors Weigh In On Core & Main

Institutional investors and hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC boosted its holdings in Core & Main by 262.0% during the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock worth $35,000 after buying an additional 524 shares in the last quarter. AQR Capital Management LLC purchased a new position in Core & Main in the first quarter worth approximately $396,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Core & Main by 36.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,576 shares of the company's stock worth $1,719,000 after purchasing an additional 9,534 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Core & Main by 23.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company's stock worth $14,106,000 after acquiring an additional 54,854 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CNM. Robert W. Baird cut their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Loop Capital lifted their price objective on shares of Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday. Royal Bank of Canada boosted their price objective on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Finally, Citigroup lifted their price target on shares of Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Core & Main presently has an average rating of "Moderate Buy" and a consensus price target of $59.55.

Core & Main Company 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.