Pembroke Management LTD Has $29.12 Million Stake in Core & Main, Inc. $CNM

Key Points

• Pembroke Management LTD has decreased its stake in Core & Main, Inc. by 1.1%, holding 602,797 shares valued at approximately $29.12 million, making up 4.3% of its portfolio.
• Several analysts have raised their price targets for Core & Main, with estimates ranging from $56.00 to $70.00, indicating a positive outlook for the stock.
• Insider activity saw significant selling, with Director Orvin T. Kimbrough and CEO Mark R. Witkowski selling a combined total of 123,962 shares, reflecting substantial decreases in their holdings.

Pembroke Management LTD reduced its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 1.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 602,797 shares of the company's stock after selling 6,834 shares during the period. Core & Main comprises 4.3% of Pembroke Management LTD's portfolio, making the stock its 4th biggest position. Pembroke Management LTD owned about 0.30% of Core & Main worth $29,121,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Enhancing Capital LLC lifted its stake in shares of Core & Main by 0.6% during the 1st quarter. Enhancing Capital LLC now owns 31,846 shares of the company's stock worth $1,538,000 after acquiring an additional 196 shares during the last quarter. CWM LLC increased its holdings in shares of 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 acquiring an additional 213 shares during the period. Cambridge Investment Research Advisors Inc. increased 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 valued at $343,000 after acquiring an additional 229 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of Core & Main by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company's stock valued at $527,000 after acquiring an additional 272 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in shares of 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 valued at $1,076,000 after acquiring an additional 330 shares during the period. 94.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CNM shares. JPMorgan Chase & Co. lifted their price target on Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Citigroup raised their price objective on Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. Wells Fargo & Company lifted their price target on Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Loop Capital reaffirmed a "hold" rating and set a $68.00 price target on shares of Core & Main in a research report on Monday, July 28th. Finally, Royal Bank Of Canada lifted their price target on Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Core & Main presently has an average rating of "Hold" and a consensus target price of $60.00.

Insider Activity at Core & Main

In other news, Director Orvin T. Kimbrough sold 23,962 shares of the business'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 transaction of $1,480,132.74. Following the transaction, the director directly owned 13,958 shares in the company, valued at $862,185.66. The trade was a 63.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark R. Witkowski sold 100,000 shares of the business'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 transaction, the chief executive officer owned 35,847 shares in the company, valued at approximately $2,297,075.76. This represents a 73.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 518,651 shares of company stock worth $31,915,085 in the last quarter. Corporate insiders own 3.53% of the company's stock.

Core & Main Price Performance

NYSE:CNM opened at $65.11 on Friday. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $66.27. The stock has a 50 day moving average of $62.99 and a two-hundred day moving average of $55.52. 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 firm has a market cap of $12.83 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 1.94 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Core & Main had a return on equity of 23.55% and a net margin of 5.47%.The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the business earned $0.49 EPS. Core & Main's quarterly revenue was up 9.8% on a year-over-year basis. Core & Main has set its FY 2025 guidance at EPS. On average, analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal 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.

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