Fiduciary Management Inc. WI Increases Stock Position in Core & Main, Inc. $CNM

Key Points

• Fiduciary Management Inc. WI increased its stake in Core & Main, Inc. by 0.3%, holding 2,841,734 shares valued at approximately $137.28 million.
• Institutional investors now own 94.19% of Core & Main's stock, with several firms increasing their stakes during the first quarter, indicating strong institutional confidence.
• Core & Main posted quarterly earnings of $0.52 EPS, meeting expectations, with a 9.8% increase in revenue year-over-year to $1.91 billion.

Fiduciary Management Inc. WI boosted its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 0.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,841,734 shares of the company's stock after acquiring an additional 8,052 shares during the period. Fiduciary Management Inc. WI owned 1.44% of Core & Main worth $137,284,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Enhancing Capital LLC increased its stake in Core & Main by 0.6% during the first 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 during the last quarter. CWM LLC increased its stake in Core & Main by 34.0% during the first quarter. CWM LLC now owns 839 shares of the company's stock valued at $41,000 after purchasing an additional 213 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Core & Main by 3.3% during 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 during the last quarter. Crossmark Global Holdings Inc. increased its stake in Core & Main by 2.6% during 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 during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Core & Main by 1.5% during 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 institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CNM shares. Loop Capital reissued a "hold" rating and set a $68.00 price target on shares of Core & Main in a report on Monday, July 28th. Citigroup upped their price objective on shares of Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. 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. JPMorgan Chase & Co. upped their price objective on shares of Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Finally, Wells Fargo & Company upped their price objective on shares of Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. 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. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $60.00.

Insider Transactions at Core & Main

In related news, General Counsel Mark G. Whittenburg sold 49,100 shares of Core & Main stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $60.03, for a total value of $2,947,473.00. Following the transaction, the general counsel owned 9,691 shares of the company's stock, valued at approximately $581,750.73. This trade represents a 83.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James G. Castellano sold 43,994 shares of Core & Main stock in a transaction dated 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 directly owned 4,638 shares in the company, valued at $287,463.24. This represents a 90.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 528,445 shares of company stock worth $32,453,755 in the last three months. Insiders own 3.53% of the company's stock.

Core & Main Price Performance

Shares of Core & Main stock opened at $63.9450 on Friday. 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 company's 50-day moving average price is $62.07 and its two-hundred day moving average price is $55.16. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $65.97. The stock has a market cap of $12.61 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly 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 for the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the previous year, the business earned $0.49 earnings per share. Core & Main's revenue for the quarter was up 9.8% compared to the same quarter last year. Core & Main has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

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.

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