Livforsakringsbolaget Skandia Omsesidigt Purchases 10,800 Shares of Core & Main, Inc. $CNM

Key Points

• Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Core & Main, Inc. by 21.3% during Q2, holding 61,500 shares valued at approximately $3.7 million as of the latest SEC filing.
• Multiple analysts have revised their price targets for Core & Main, with JPMorgan, Goldman Sachs, and Citigroup setting new targets ranging between $50.00 and $60.00, while the consensus price target remains at $59.60.
• Core & Main reported $0.87 EPS for the most recent quarter, exceeding estimates, and had a revenue of $2.09 billion, which was slightly below expectations.

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 21.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 61,500 shares of the company's stock after buying an additional 10,800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Core & Main were worth $3,712,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Core & Main by 3.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock worth $343,000 after purchasing an additional 229 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Core & Main by 21.2% in the 1st quarter. Truist Financial Corp now owns 705,339 shares of the company's stock worth $34,075,000 after purchasing an additional 123,494 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Core & Main by 6.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 159,896 shares of the company's stock worth $7,725,000 after purchasing an additional 9,473 shares in the last quarter. Perpetual Ltd lifted its holdings in shares of Core & Main by 12.4% in the 1st quarter. Perpetual Ltd now owns 223,671 shares of the company's stock worth $10,806,000 after purchasing an additional 24,610 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in shares of Core & Main by 53.7% in the 1st quarter. New York State Teachers Retirement System now owns 86,679 shares of the company's stock worth $4,187,000 after purchasing an additional 30,286 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CNM shares. Truist Financial cut their target price on Core & Main from $56.00 to $50.00 and set a "hold" rating on the stock in a report on Thursday, September 11th. Barclays cut their target price on Core & Main from $69.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. Citigroup dropped their price objective on Core & Main from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 10th. Loop Capital restated a "hold" rating and set a $68.00 price objective on shares of Core & Main in a research note on Monday, July 28th. Finally, The Goldman Sachs Group dropped their price objective on Core & Main from $68.00 to $60.00 and set a "neutral" rating on the stock in a research note on Friday, September 12th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.60.

Insider Activity at Core & Main

In other news, Director Orvin T. Kimbrough sold 23,962 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $61.77, for a total transaction of $1,480,132.74. Following the completion of the transaction, the director owned 13,958 shares of the company's stock, valued at approximately $862,185.66. The trade was a 63.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark R. Witkowski sold 100,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $64.08, for a total value of $6,408,000.00. Following the transaction, the chief executive officer directly owned 35,847 shares of the company's stock, valued at $2,297,075.76. The trade was 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 valued at $26,343,241 in the last ninety days. Insiders own 3.53% of the company's stock.

Core & Main Price Performance

CNM stock traded up $0.52 during mid-day trading on Tuesday, reaching $51.23. 508,404 shares of the company traded hands, compared to its average volume of 2,153,676. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.25 and a quick ratio of 1.30. The company has a market capitalization of $10.11 billion, a P/E ratio of 22.87, a P/E/G ratio of 2.00 and a beta of 1.04. Core & Main, Inc. has a 52-week low of $41.60 and a 52-week high of $67.18. The company has a fifty day moving average price of $61.43 and a 200-day moving average price of $56.15.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings results on Tuesday, September 9th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.79 by $0.08. Core & Main had a net margin of 5.57% and a return on equity of 25.44%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same period last year, the firm earned $0.61 EPS. The business's quarterly revenue was up 6.6% compared to the same quarter last year. Core & Main has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

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.