Oliver Lagore Vanvalin Investment Group Purchases New Shares 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) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,128 shares of the company's stock, valued at approximately $1,396,000.

Several other large investors have also modified their holdings of the company. Enhancing Capital LLC boosted its holdings in shares of Core & Main by 0.6% in the first quarter. Enhancing Capital LLC now owns 31,846 shares of the company's stock valued at $1,538,000 after acquiring an additional 196 shares during the period. CWM LLC increased its position in shares of Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company's stock valued at $41,000 after buying an additional 213 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Core & Main by 3.3% during 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. Crossmark Global Holdings Inc. increased its position in Core & Main by 2.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company's stock worth $527,000 after purchasing an additional 272 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Core & Main by 1.5% in the 1st quarter. State of Alaska Department of Revenue now owns 22,285 shares of the company's stock worth $1,076,000 after buying an additional 330 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Core & Main news, CEO Mark R. Witkowski sold 100,000 shares of the firm's stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Orvin T. Kimbrough sold 23,962 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director owned 13,958 shares of the company's stock, valued at $862,185.66. This represents a 63.19% 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. Company insiders own 3.53% of the company's stock.

Core & Main Trading Up 0.6%

Shares of Core & Main stock traded up $0.28 on Tuesday, reaching $50.99. 448,671 shares of the company were exchanged, compared to its average volume of 2,153,256. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 2.00 and a beta of 1.04. Core & Main, Inc. has a fifty-two week low of $41.60 and a fifty-two week high of $67.18. The company has a current ratio of 2.25, a quick ratio of 1.30 and a debt-to-equity ratio of 1.14. The stock 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 issued its earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.08. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.12 billion. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.The business's revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 EPS. Core & Main has set its FY 2025 guidance at EPS. On average, analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Citigroup reduced 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. Truist Financial reduced their price target on Core & Main from $56.00 to $50.00 and set a "hold" rating on the stock in a research report on Thursday, September 11th. Loop Capital restated a "hold" rating and set a $68.00 price objective on shares of Core & Main in a report on Monday, July 28th. JPMorgan Chase & Co. dropped their price objective on Core & Main from $64.00 to $54.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. 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 report on Friday, September 12th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $59.60.

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.