Eisler Capital Management Ltd. Makes New $213,000 Investment in Core & Main, Inc. $CNM

Key Points

• Eisler Capital Management Ltd. has made a new investment of approximately $213,000 in Core & Main, acquiring 4,410 shares in the first quarter.
• Core & Main has recently seen a surge in institutional investments, with firms like Mariner LLC and Stifel Financial Corp increasing their stakes by up to 23.0%.
• The company's recent financial performance showed a 9.8% year-over-year revenue increase, reporting $1.91 billion in revenue for the last quarter, meeting analysts' expectations.

Eisler Capital Management Ltd. bought a new position in Core & Main, Inc. (NYSE:CNM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,410 shares of the company's stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CNM. Mariner LLC boosted its stake in Core & Main by 23.0% in the fourth quarter. Mariner LLC now owns 7,575 shares of the company's stock worth $386,000 after buying an additional 1,415 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Core & Main by 6.4% in the fourth quarter. Stifel Financial Corp now owns 8,353 shares of the company's stock worth $425,000 after buying an additional 504 shares during the period. Boothbay Fund Management LLC bought a new stake in Core & Main during the 4th quarter valued at $658,000. Northern Trust Corp boosted its position in Core & Main by 15.3% during the 4th quarter. Northern Trust Corp now owns 1,758,965 shares of the company's stock valued at $89,549,000 after buying an additional 233,979 shares during the period. Finally, ArrowMark Colorado Holdings LLC boosted its position in Core & Main by 17.5% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 924,632 shares of the company's stock valued at $47,073,000 after buying an additional 137,716 shares during the period. Hedge funds and other institutional investors own 94.19% of the company's stock.

Core & Main Trading Down 1.0%

NYSE:CNM opened at $65.11 on Friday. The company has a 50-day moving average price of $62.99 and a 200-day moving average price of $55.52. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $66.27. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. The stock has a market cap of $12.83 billion, a price-to-earnings ratio of 30.28, a P/E/G ratio of 1.94 and a beta of 1.04.

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Core & Main news, insider Laura K. Schneider sold 45,695 shares of the stock in a transaction on 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 completion of the transaction, the insider owned 12,873 shares in the company, valued at approximately $724,106.25. This represents a 78.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James G. Castellano sold 43,994 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $61.98, for a total value of $2,726,748.12. Following the completion of the transaction, the director owned 4,638 shares of the company's stock, valued at approximately $287,463.24. This trade represents a 90.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 518,651 shares of company stock valued at $31,915,085 in the last 90 days. 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.

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