Perpetual Ltd Has $14.06 Million Stock Position in Core & Main, Inc. $CNM

Key Points

• Perpetual Ltd increased its stake in Core & Main, Inc. by 4.2%, now owning approximately 0.12% of the company, worth $14.06 million.
• Insider selling has been notable, with significant sales by directors, including a 90.46% decrease in ownership for James G. Castellano after selling 43,994 shares.
• Analysts have lowered their price targets for Core & Main, with an average target now around $59.60, while the stock retains a "Moderate Buy" rating from the research community.

Perpetual Ltd increased its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 232,983 shares of the company's stock after buying an additional 9,312 shares during the period. Perpetual Ltd owned about 0.12% of Core & Main worth $14,061,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Fiduciary Management Inc. WI boosted its holdings in shares of Core & Main by 0.3% in the 1st quarter. Fiduciary Management Inc. WI now owns 2,841,734 shares of the company's stock valued at $137,284,000 after buying an additional 8,052 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Core & Main by 12.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,232,542 shares of the company's stock valued at $107,857,000 after buying an additional 244,500 shares during the period. Artemis Investment Management LLP lifted its position in Core & Main by 109.6% in the 1st quarter. Artemis Investment Management LLP now owns 1,791,935 shares of the company's stock valued at $86,568,000 after purchasing an additional 936,863 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Core & Main by 6.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,781,525 shares of the company's stock valued at $86,065,000 after purchasing an additional 114,760 shares during the period. Finally, KBC Group NV boosted its stake in Core & Main by 5.3% during the 1st quarter. KBC Group NV now owns 1,725,810 shares of the company's stock valued at $83,374,000 after purchasing an additional 86,672 shares during the period. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Stock Up 0.5%

CNM traded up $0.24 on Tuesday, reaching $50.95. 378,802 shares of the company traded hands, compared to its average volume of 2,152,744. The stock's 50 day moving average price is $61.43 and its 200-day moving average price is $56.15. Core & Main, Inc. has a 52-week low of $41.60 and a 52-week high of $67.18. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.00 and a beta of 1.04. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.25 and a quick ratio of 1.30.

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

Insider Transactions at Core & Main

In other Core & Main news, Director James G. Castellano sold 43,994 shares of Core & Main 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 sale, the director directly owned 4,638 shares in the company, valued at $287,463.24. The trade was a 90.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of Core & Main stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $64.51, for a total transaction of $322,550.00. Following the completion of the sale, the chief financial officer owned 8,555 shares of the company's stock, valued at $551,883.05. This trade represents a 36.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 422,956 shares of company stock valued at $26,343,241. Insiders own 3.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CNM. JPMorgan Chase & Co. reduced their target price on shares of Core & Main from $64.00 to $54.00 and set an "overweight" rating for the company in a research note on Wednesday, September 10th. Loop Capital reissued a "hold" rating and set a $68.00 target price on shares of Core & Main in a research note on Monday, July 28th. Barclays reduced their target price on shares of Core & Main from $69.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday, September 10th. Truist Financial dropped 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. Finally, The Goldman Sachs Group dropped their price target on shares of Core & Main from $68.00 to $60.00 and set a "neutral" rating on the stock in a research report on Friday, September 12th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.