9,727 Shares in Core & Main, Inc. $CNM Bought by Lecap Asset Management Ltd.

Key Points

• Lecap Asset Management Ltd. purchased 9,727 shares of Core & Main, Inc. valued at approximately $587,000, as reported in a recent 13F filing with the SEC.
• Core & Main, Inc. reported earnings of $0.87 per share for the quarter, exceeding analysts’ expectations, but its revenue of $2.09 billion fell short compared to estimates of $2.12 billion.
• Analyst ratings for Core & Main are mixed, with Zacks Research downgrading the stock to "strong sell," while Wells Fargo raised its target price and maintained an "overweight" rating.

Lecap Asset Management Ltd. acquired a new stake in Core & Main, Inc. (NYSE:CNM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,727 shares of the company's stock, valued at approximately $587,000.

Other hedge funds have also made changes to their positions in the company. Parallel Advisors LLC increased its position in Core & Main by 447.1% in the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock valued at $31,000 after acquiring an additional 532 shares during the period. Bfsg LLC lifted its position 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 acquiring an additional 202 shares during the period. Cubist Systematic Strategies LLC grew its stake in shares of Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock valued at $35,000 after purchasing an additional 524 shares during the last quarter. Rossby Financial LCC acquired a new position in shares of Core & Main in the first quarter valued at approximately $37,000. Finally, CWM LLC raised its stake in shares of Core & Main by 34.0% during the first quarter. CWM LLC now owns 839 shares of the company's stock worth $41,000 after purchasing an additional 213 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company's stock.

Core & Main Stock Performance

Shares of CNM opened at $53.17 on Friday. The company has a quick ratio of 1.30, a current ratio of 2.25 and a debt-to-equity ratio of 1.14. Core & Main, Inc. has a 52-week low of $41.60 and a 52-week high of $67.18. The company has a 50-day simple moving average of $59.74 and a 200-day simple moving average of $56.32. The company has a market capitalization of $10.50 billion, a PE ratio of 23.74, a P/E/G ratio of 2.06 and a beta of 0.98.

Core & Main (NYSE:CNM - Get Free Report) last issued its earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share 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 for the quarter, compared to analyst estimates of $2.12 billion. During the same period in the prior year, the business posted $0.61 earnings per share. The firm'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. Equities research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CNM has been the topic of a number of analyst reports. Zacks Research lowered shares of Core & Main from a "hold" rating to a "strong sell" rating in a research report on Monday. Royal Bank Of Canada reduced their target price on shares of Core & Main from $67.00 to $62.00 and set an "outperform" rating for the company in a research note 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. The Goldman Sachs Group cut their price target on shares of Core & Main from $68.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, September 12th. Finally, Barclays lowered their price objective on Core & Main from $69.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Core & Main has a consensus rating of "Moderate Buy" and an average price target of $60.27.

Insider Transactions at Core & Main

In other Core & Main news, Director Orvin T. Kimbrough sold 23,962 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $61.77, for a total value of $1,480,132.74. Following the sale, the director owned 13,958 shares of the company's stock, valued at approximately $862,185.66. This represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Witkowski sold 100,000 shares of Core & Main stock in a transaction on Monday, August 18th. The stock was sold at an average price of $64.08, for a total value of $6,408,000.00. Following the transaction, the chief executive officer directly owned 35,847 shares of the company's stock, valued at $2,297,075.76. This trade represents a 73.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 317,928 shares of company stock worth $19,847,647 over the last ninety days. 3.53% of the stock is currently owned by corporate insiders.

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.

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