Oliver Lagore Vanvalin Investment Group Takes Position in Core & Main, Inc. $CNM

Key Points

• Oliver Lagore Vanvalin Investment Group has acquired a new stake in Core & Main, Inc., purchasing 23,128 shares valued at approximately $1.4 million in the 2nd quarter.
• Core & Main reported an EPS of $0.87 for the last quarter, exceeding analysts' estimates of $0.79, while revenue saw a 6.6% year-over-year increase.
• Institutional investors own 94.19% of Core & Main's stock, with recent insider activity showing significant sales from key insiders, including a substantial sale by Stephen O. Leclair.

Oliver Lagore Vanvalin Investment Group bought a new position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,128 shares of the company's stock, valued at approximately $1,396,000.

A number of other large investors have also recently added to or reduced their stakes in CNM. Parallel Advisors LLC increased its stake in shares of Core & Main by 447.1% during the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock worth $31,000 after purchasing an additional 532 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock valued at $35,000 after buying an additional 524 shares during the last quarter. Rossby Financial LCC acquired a new position in Core & Main in the 1st quarter valued at $37,000. CWM LLC grew its stake in Core & Main by 34.0% in the 1st quarter. CWM LLC now owns 839 shares of the company's stock valued at $41,000 after buying an additional 213 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in Core & Main by 1,491.8% in the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock valued at $56,000 after buying an additional 1,089 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays lowered their target price on shares of Core & Main from $69.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 10th. Truist Financial decreased their price target on shares of Core & Main from $56.00 to $50.00 and set a "hold" rating on the stock in a research report on Thursday, September 11th. JPMorgan Chase & Co. decreased their price target on shares of Core & Main from $64.00 to $54.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 10th. Loop Capital restated a "hold" rating and issued a $68.00 price target on shares of Core & Main in a research report on Monday, July 28th. Finally, Wells Fargo & Company decreased their price target on shares of Core & Main from $70.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 10th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Core & Main currently has a consensus rating of "Moderate Buy" and an average target price of $59.60.

Insider Activity at Core & Main

In other news, Director Orvin T. Kimbrough sold 23,962 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $61.77, for a total value of $1,480,132.74. Following the completion of the transaction, the director owned 13,958 shares in the company, valued at $862,185.66. This represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark R. Witkowski sold 100,000 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $64.08, for a total transaction of $6,408,000.00. Following the completion of the transaction, the chief executive officer owned 35,847 shares of the company's stock, valued at $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 over the last 90 days. Insiders own 3.53% of the company's stock.

Core & Main Price Performance

CNM stock traded down $0.20 during trading on Monday, hitting $50.73. 3,015,553 shares of the stock traded hands, compared to its average volume of 2,156,121. Core & Main, Inc. has a one year low of $41.60 and a one year high of $67.18. The stock has a market cap of $10.02 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 2.00 and a beta of 1.04. The company has a 50 day simple moving average of $61.63 and a 200 day simple moving average of $56.13. The company has a current ratio of 2.25, a quick ratio of 1.30 and a debt-to-equity ratio of 1.14.

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

About Core & Main

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.