Core & Main, Inc. $CNM Stock Position Raised by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its holdings in Core & Main, Inc. by 12.3%, now owning over 2.23 million shares worth approximately $107.9 million.
• Core & Main reported earnings of $0.52 per share for the latest quarter, meeting analysts' expectations, with revenue rising 9.8% year-over-year to $1.91 billion.
• Several institutional investors, including Mariner LLC and Tower Research Capital, significantly increased their stakes in Core & Main during the last quarter, indicating strong institutional interest in the company.

Dimensional Fund Advisors LP grew its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,232,542 shares of the company's stock after purchasing an additional 244,500 shares during the period. Dimensional Fund Advisors LP owned approximately 1.13% of Core & Main worth $107,857,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC grew its position in Core & Main by 447.1% in the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock worth $31,000 after purchasing an additional 532 shares during the last quarter. Rossby Financial LCC bought a new position in shares of Core & Main in the first quarter valued at approximately $37,000. CWM LLC boosted its holdings in shares of Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company's stock valued at $41,000 after acquiring an additional 213 shares in the last quarter. Versant Capital Management Inc boosted its holdings 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 in 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. Institutional investors own 94.19% of the company's stock.

Core & Main Price Performance

CNM stock traded up $1.03 on Wednesday, hitting $65.98. 549,559 shares of the company's stock traded hands, compared to its average volume of 1,942,250. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $66.27. The stock has a market cap of $13.01 billion, a price-to-earnings ratio of 30.68, a P/E/G ratio of 1.90 and a beta of 1.04. The stock has a fifty day moving average of $62.61 and a 200-day moving average of $55.38. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $1.84 billion. During the same period in the prior year, the business earned $0.49 earnings per share. The business's quarterly revenue was up 9.8% on a year-over-year basis. Core & Main has set its FY 2025 guidance at EPS. On average, analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Director James G. Castellano sold 43,994 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director owned 4,638 shares in the company, valued at approximately $287,463.24. This represents a 90.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $64.51, for a total transaction of $322,550.00. Following the completion of the sale, the chief financial officer owned 8,555 shares of the company's stock, valued at approximately $551,883.05. This trade represents a 36.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 518,651 shares of company stock worth $31,915,085 in the last quarter. Corporate insiders own 3.53% of the company's stock.

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.