Core & Main, Inc. $CNM Stock Position Lifted by Ethic Inc.

Key Points

• Ethic Inc. significantly increased its stake in Core & Main, Inc., boosting holdings by 88% to 19,211 shares worth $949,000 in the latest quarter.
• Insider trading activity included notable sales by directors, with James G. Castellano selling 43,994 shares and Orvin T. Kimbrough selling 23,962 shares, leading to large decreases in their positions.
• Analysts have varied price targets for Core & Main, with six rating it as a Buy, four as Hold, and one as Sell, reflecting a consensus price target of $60.00 per share.

Ethic Inc. increased its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 88.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,211 shares of the company's stock after buying an additional 8,994 shares during the period. Ethic Inc.'s holdings in Core & Main were worth $949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Enhancing Capital LLC increased its stake in Core & Main by 0.6% in the 1st quarter. Enhancing Capital LLC now owns 31,846 shares of the company's stock valued at $1,538,000 after purchasing an additional 196 shares in the last quarter. CWM LLC increased its holdings in Core & Main by 34.0% during the 1st 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. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Core & Main by 3.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock valued at $343,000 after purchasing an additional 229 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Core & Main by 2.6% in the first quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company's stock valued at $527,000 after purchasing an additional 272 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of Core & Main by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 22,285 shares of the company's stock valued at $1,076,000 after purchasing an additional 330 shares during the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNM has been the topic of a number of recent research reports. Citigroup upped their target price on Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Loop Capital reaffirmed a "hold" rating and set a $68.00 price objective on shares of Core & Main in a research note on Monday, July 28th. Wells Fargo & Company lifted their price objective on Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. upped their target price 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. Finally, Royal Bank Of Canada lifted their price target 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $60.00.

Core & Main Stock Down 1.0%

Shares of CNM stock traded down $0.6380 on Monday, hitting $64.8520. The stock had a trading volume of 89,753 shares, compared to its average volume of 1,952,163. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $66.27. The firm has a market capitalization of $12.78 billion, a price-to-earnings ratio of 30.16, a P/E/G 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. The stock's 50 day moving average is $62.26 and its 200-day moving average is $55.24.

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

Insider Buying and Selling

In related news, insider Laura K. Schneider sold 45,695 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the sale, the insider directly owned 12,873 shares of the company's stock, valued at approximately $724,106.25. This represents a 78.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James G. Castellano sold 43,994 shares of Core & Main stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $61.98, for a total transaction of $2,726,748.12. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 528,445 shares of company stock worth $32,453,755. 3.53% of the stock is currently owned by 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.