Alamea Verwaltungs GmbH Takes Position in Core & Main, Inc. $CNM

Key Points

• Alamea Verwaltungs GmbH has acquired a stake of 6,504 shares in Core & Main, Inc. valued at approximately $314,000.
• Core & Main reported $1.91 billion in revenue for the last quarter, exceeding analyst estimates and showing a 9.8% increase year-over-year.
• Insider transactions showed significant selling, with executives offloading over 518,651 shares in total, amounting to approximately $31.9 million in sales.

Alamea Verwaltungs GmbH acquired a new stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,504 shares of the company's stock, valued at approximately $314,000.

A number of other hedge funds have also bought and sold shares of the company. Fiduciary Management Inc. WI increased its position in Core & Main by 0.3% during the first quarter. Fiduciary Management Inc. WI now owns 2,841,734 shares of the company's stock valued at $137,284,000 after acquiring an additional 8,052 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Core & Main by 12.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,232,542 shares of the company's stock valued at $107,857,000 after acquiring an additional 244,500 shares during the last quarter. Artemis Investment Management LLP increased its position in Core & Main by 109.6% during the first 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. Charles Schwab Investment Management Inc. increased its position in Core & Main by 6.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,781,525 shares of the company's stock valued at $86,065,000 after acquiring an additional 114,760 shares during the last quarter. Finally, Northern Trust Corp increased its position in Core & Main by 15.3% during the fourth quarter. Northern Trust Corp now owns 1,758,965 shares of the company's stock valued at $89,549,000 after acquiring an additional 233,979 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

Core & Main Stock Down 0.2%

NYSE:CNM traded down $0.15 during mid-day trading on Wednesday, reaching $64.55. The company's stock had a trading volume of 1,213,781 shares, compared to its average volume of 1,518,915. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $66.27. The stock has a fifty day moving average of $63.38 and a 200-day moving average of $55.75. The firm has a market capitalization of $12.72 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 1.91 and a beta of 1.04. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 1.23.

Core & Main (NYSE:CNM - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, hitting analysts' consensus estimates of $0.52. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the company posted $0.49 earnings per share. The firm's revenue was up 9.8% on a year-over-year basis. Core & Main has set its FY 2025 guidance at EPS. Equities research analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insiders Place Their Bets

In other Core & Main news, insider Stephen O. Leclair sold 44,972 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $61.91, for a total value of $2,784,216.52. Following the completion of the sale, the insider directly owned 70,736 shares of the company's stock, valued at $4,379,265.76. This trade represents a 38.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Witkowski sold 100,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 35,847 shares of the company's stock, valued at $2,297,075.76. The trade was a 73.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 472,956 shares of company stock worth $29,344,741. 3.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CNM shares. Royal Bank Of Canada boosted their price objective on shares of Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Citigroup boosted their target price on shares of Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. JPMorgan Chase & Co. boosted 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. Loop Capital reissued a "hold" rating and set a $68.00 target price on shares of Core & Main in a research note on Monday, July 28th. Finally, Wells Fargo & Company boosted their target price on shares of Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Core & Main has an average rating of "Hold" and a consensus target price of $60.00.

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.