American Century Companies Inc. Sells 192,248 Shares of Core & Main, Inc. $CNM

Key Points

• American Century Companies Inc. reduced its stake in Core & Main, Inc. by 13.9%, selling 192,248 shares in the 1st quarter, leaving it with approximately 1,192,638 shares valued at $57.6 million.
• Core & Main reported earnings of $0.52 per share, meeting analysts' estimates while showing a 9.8% increase in revenue year-over-year.
• Brokerages have set new price targets for Core & Main, with a consensus target price of $60.00 and ratings ranging from Buy to Hold.

American Century Companies Inc. trimmed its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 13.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,192,638 shares of the company's stock after selling 192,248 shares during the period. American Century Companies Inc. owned about 0.60% of Core & Main worth $57,616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNM. Parallel Advisors LLC boosted its stake in shares of 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 purchasing an additional 532 shares in the last quarter. Rossby Financial LCC acquired a new position in Core & Main in the first quarter valued at about $37,000. CWM LLC grew its stake in Core & Main by 34.0% during the first quarter. CWM LLC now owns 839 shares of the company's stock worth $41,000 after buying an additional 213 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Core & Main by 1,491.8% in the first quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock valued at $56,000 after acquiring an additional 1,089 shares during the last quarter. Finally, Ancora Advisors LLC bought a new position in shares of Core & Main in the fourth quarter valued at approximately $75,000. 94.19% of the stock is owned by institutional investors.

Core & Main Trading Down 1.7%

Core & Main stock traded down $1.0890 during trading hours on Monday, reaching $64.4010. 804,140 shares of the company's stock traded hands, compared to its average volume of 1,728,490. The firm has a market capitalization of $12.70 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 1.93 and a beta of 1.04. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $66.27. The firm's 50 day moving average is $62.43 and its 200-day moving average is $55.31.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share 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 firm posted $0.49 earnings per share. Core & Main's revenue for the quarter was up 9.8% compared to the same quarter last year. Core & Main has set its FY 2025 guidance at EPS. On average, analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on CNM shares. Citigroup increased their price target on Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. increased their target price on Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Royal Bank Of Canada lifted their price target on Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Wells Fargo & Company upped their price target on shares of Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Loop Capital restated a "hold" rating and issued a $68.00 price objective on shares of Core & Main in a research report on Monday, July 28th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $60.00.

Insider Buying and Selling

In related news, General Counsel Mark G. Whittenburg sold 49,100 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $60.03, for a total value of $2,947,473.00. Following the completion of the sale, the general counsel owned 9,691 shares in the company, valued at approximately $581,750.73. This represents a 83.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Laura K. Schneider sold 45,695 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total value of $2,570,343.75. Following the transaction, the insider owned 12,873 shares in the company, valued at approximately $724,106.25. This trade represents a 78.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 528,445 shares of company stock worth $32,453,755 over the last 90 days. 3.53% of the stock is currently owned by corporate insiders.

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.