Foster & Motley Inc. Has $1.99 Million Stake in Core & Main, Inc. (NYSE:CNM)

Key Points

• Foster & Motley Inc. increased its ownership in Core & Main by 44.4%, acquiring an additional 12,685 shares to total 41,239 shares, valued at approximately $1,992,000 as of its latest SEC filing.
• Several hedge funds have also adjusted their positions in Core & Main, with notable increases from LPL Financial and Schroder Investment Management, reflecting a strong interest among institutional investors, who now hold 94.19% of the stock.
• Wall Street analysts have expressed a generally positive outlook, with multiple price target increases, suggesting a consensus average target of $60.00 and rating the stock predominantly as a "hold," with some recommending "buy" ratings.

Foster & Motley Inc. lifted its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 44.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,239 shares of the company's stock after buying an additional 12,685 shares during the quarter. Foster & Motley Inc.'s holdings in Core & Main were worth $1,992,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC lifted its holdings in shares of Core & Main by 34.0% during the first quarter. CWM LLC now owns 839 shares of the company's stock worth $41,000 after buying an additional 213 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in 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. raised 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 worth $527,000 after acquiring an additional 272 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Core & Main by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock worth $61,000 after acquiring an additional 278 shares in the last quarter. Finally, State of Alaska Department of Revenue raised 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 worth $1,076,000 after acquiring an additional 330 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

Core & Main Trading Down 1.5%

CNM stock traded down $0.98 during trading on Friday, hitting $62.66. The company had a trading volume of 1,723,379 shares, compared to its average volume of 1,787,044. The business has a 50-day moving average of $59.94 and a 200-day moving average of $54.37. Core & Main, Inc. has a one year low of $37.22 and a one year high of $65.97. The stock has a market cap of $12.35 billion, a PE ratio of 29.14, a PEG ratio of 1.88 and a beta of 1.04. 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 issued its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the firm earned $0.49 earnings per share. The company's revenue was up 9.8% compared to the same quarter last year. Research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Transactions at Core & Main

In other Core & Main news, CEO Mark R. Witkowski sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the chief executive officer directly owned 35,847 shares of the company's stock, valued at approximately $2,195,987.22. The trade was a 73.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James G. Castellano sold 43,994 shares of the business'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 transaction, the director directly owned 4,638 shares in the company, valued at approximately $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 90 days, insiders sold 428,445 shares of company stock valued at $26,045,755. 3.53% of the stock is owned by insiders.

Analysts Set New Price Targets

CNM has been the subject of several research analyst reports. Wells Fargo & Company boosted their target price on Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada boosted their target price on Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. JPMorgan Chase & Co. boosted their price target 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 restated a "hold" rating and set a $68.00 price target on shares of Core & Main in a report on Monday. Finally, Citigroup boosted their price target on Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Core & Main currently has a consensus rating of "Hold" and an average target price of $60.00.

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.