Federation des caisses Desjardins du Quebec Has $2.05 Million Stock Holdings in Core & Main, Inc. $CNM

Key Points

• The Federation des caisses Desjardins du Quebec increased its holdings in Core & Main, Inc. by 37.6%, acquiring a total of 42,419 shares valued at approximately $2,049,000.
• Hedge fund activity around Core & Main has intensified, with notable increases in stakes by several funds, including Parallel Advisors LLC, which raised its position by 447.1%.
• Core & Main reported $1.91 billion in revenue for the last quarter, surpassing analyst estimates, and set a forecast of $2.16 earnings per share for the current fiscal year.

Federation des caisses Desjardins du Quebec raised its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 37.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,419 shares of the company's stock after buying an additional 11,589 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Core & Main were worth $2,049,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CNM. Jennison Associates LLC acquired a new position in shares of Core & Main in the 1st quarter valued at approximately $54,742,000. Artemis Investment Management LLP grew its position in shares of Core & Main by 109.6% in the 1st quarter. Artemis Investment Management LLP now owns 1,791,935 shares of the company's stock valued at $86,568,000 after purchasing an additional 936,863 shares during the period. Nuveen LLC acquired a new position in shares of Core & Main in the 1st quarter valued at approximately $44,028,000. Raiffeisen Bank International AG acquired a new position in shares of Core & Main in the 4th quarter valued at approximately $24,032,000. Finally, Driehaus Capital Management LLC grew its position in shares of Core & Main by 253.6% in the 1st quarter. Driehaus Capital Management LLC now owns 482,128 shares of the company's stock valued at $23,292,000 after purchasing an additional 345,763 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Stock Down 1.4%

Shares of Core & Main stock traded down $0.69 on Friday, reaching $48.76. 3,652,711 shares of the company were exchanged, compared to its average volume of 2,968,833. Core & Main, Inc. has a one year low of $39.86 and a one year high of $67.18. The company has a market capitalization of $9.61 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.88 and a beta of 1.04. The company has a current ratio of 2.25, a quick ratio of 1.10 and a debt-to-equity ratio of 1.14. The company has a 50-day moving average of $62.85 and a 200 day moving average of $56.02.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings data on Tuesday, September 9th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.08. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.The company had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.12 billion. During the same quarter in the prior year, the business posted $0.61 EPS. The business's revenue was up 6.6% compared to the same quarter last year. Core & Main has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Orvin T. Kimbrough sold 23,962 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $61.77, for a total value of $1,480,132.74. Following the sale, the director owned 13,958 shares in the company, valued at approximately $862,185.66. This represents a 63.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Witkowski sold 100,000 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $64.08, for a total value of $6,408,000.00. Following the completion of the sale, the chief executive officer owned 35,847 shares in the company, valued at approximately $2,297,075.76. This trade represents a 73.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 422,956 shares of company stock worth $26,343,241 in the last quarter. Company insiders own 3.53% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CNM shares. Citigroup decreased their price objective on Core & Main from $62.00 to $54.00 and set a "neutral" rating for the company in a research report on Wednesday. Barclays cut their target price on Core & Main from $69.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday. Loop Capital restated a "hold" rating and issued a $68.00 target price on shares of Core & Main in a research note on Monday, July 28th. JPMorgan Chase & Co. cut their target price on Core & Main from $64.00 to $54.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group cut their target price on Core & Main from $68.00 to $60.00 and set a "neutral" rating on the stock in a research note on Friday. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Core & Main presently has an average rating of "Moderate Buy" and a consensus target price of $59.60.

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.