Core & Main, Inc. $CNM Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Core & Main, Inc. by 42.6%, owning 20,362 shares valued at approximately $984,000 after selling 15,105 shares in the first quarter.
• Several institutional investors increased their holdings in Core & Main, most notably New York State Teachers Retirement System, which raised its stake by 53.7%, now owning 86,679 shares worth $4,187,000.
• Core & Main reported quarterly earnings of $0.52 per share, meeting analysts' expectations, with a revenue increase of 9.8% year-over-year, totaling $1.91 billion.

Russell Investments Group Ltd. lessened its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 42.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,362 shares of the company's stock after selling 15,105 shares during the period. Russell Investments Group Ltd.'s holdings in Core & Main were worth $984,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CNM. Parallel Advisors LLC grew 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 buying an additional 532 shares during the period. Rossby Financial LCC purchased a new stake in shares of Core & Main in the 1st quarter valued at approximately $37,000. CWM LLC grew its stake in shares of Core & Main by 34.0% in the 1st quarter. CWM LLC now owns 839 shares of the company's stock valued at $41,000 after buying an additional 213 shares during the period. Versant Capital Management Inc grew its stake in shares of Core & Main by 1,491.8% in the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock valued at $56,000 after buying an additional 1,089 shares during the period. Finally, Ancora Advisors LLC purchased a new stake in shares of Core & Main in the 4th quarter valued at approximately $75,000. Hedge funds and other institutional investors own 94.19% of the company's stock.

Core & Main Stock Up 0.6%

NYSE CNM traded up $0.40 during trading hours on Thursday, hitting $64.97. 96,961 shares of the company were exchanged, compared to its average volume of 1,931,766. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $66.27. The company has a 50 day moving average of $63.49 and a two-hundred day moving average of $55.81. The firm has a market cap of $12.81 billion, a price-to-earnings ratio of 30.17, a PEG 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 quarterly earnings data on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, meeting 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 for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the business earned $0.49 EPS. The company'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 anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Transactions at Core & Main

In related news, Director James G. Castellano sold 43,994 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $61.98, for a total value of $2,726,748.12. Following the transaction, the director directly owned 4,638 shares of the company's stock, valued at $287,463.24. This trade represents a 90.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephen O. Leclair sold 80,028 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $62.27, for a total transaction of $4,983,343.56. Following the transaction, the insider directly owned 70,736 shares in the company, valued at $4,404,730.72. The trade was a 53.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 472,956 shares of company stock worth $29,344,741. Insiders own 3.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup increased their price target 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. Wells Fargo & Company increased their price target 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. Loop Capital reissued a "hold" rating and issued a $68.00 price target on shares of Core & Main in a research note on Monday, July 28th. JPMorgan Chase & Co. upped their price objective on shares of Core & Main from $56.00 to $64.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Royal Bank Of Canada upped their price objective on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $60.73.

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.