Samlyn Capital LLC Has $121.98 Million Stock Holdings in Core & Main, Inc. $CNM

Key Points

• Samlyn Capital LLC has reduced its stake in Core & Main, Inc. by 2.1%, now holding approximately 2,524,927 shares worth about $121.98 million.
• Multiple hedge funds have shown interest in Core & Main by either purchasing new stakes or increasing their holdings, contributing to institutional investors owning 94.19% of the company's stock.
• Core & Main recently reported $1.91 billion in quarterly revenue, surpassing estimates and marking a 9.8% year-over-year increase in earnings per share.

Samlyn Capital LLC lowered its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,524,927 shares of the company's stock after selling 54,399 shares during the period. Core & Main makes up 1.8% of Samlyn Capital LLC's portfolio, making the stock its 16th biggest position. Samlyn Capital LLC owned about 1.28% of Core & Main worth $121,979,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CNM. Stifel Financial Corp increased its stake in shares of Core & Main by 6.4% in the fourth quarter. Stifel Financial Corp now owns 8,353 shares of the company's stock worth $425,000 after acquiring an additional 504 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Core & Main by 9.9% in the fourth quarter. Ameriprise Financial Inc. now owns 240,388 shares of the company's stock worth $12,238,000 after acquiring an additional 21,702 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Core & Main in the fourth quarter worth $2,669,000. Bank of America Corp DE increased its stake in shares of Core & Main by 23.3% in the fourth quarter. Bank of America Corp DE now owns 1,570,977 shares of the company's stock worth $79,978,000 after acquiring an additional 296,516 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Core & Main by 121.8% in the fourth quarter. Captrust Financial Advisors now owns 65,299 shares of the company's stock worth $3,324,000 after acquiring an additional 35,855 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Orvin T. Kimbrough sold 23,962 shares of Core & Main 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 sale, the director directly owned 13,958 shares of the company's stock, valued at $862,185.66. This trade 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 this hyperlink. Also, Director James G. Castellano sold 43,994 shares of Core & Main stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $61.98, for a total value of $2,726,748.12. Following the sale, the director directly owned 4,638 shares in the company, valued at approximately $287,463.24. This trade represents a 90.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 422,956 shares of company stock valued at $26,343,241 in the last quarter. Insiders own 3.53% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Core & Main from $56.00 to $64.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. Wells Fargo & Company upped their price target on shares of Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Citigroup upped their price objective on shares of Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Royal Bank Of Canada upped their price objective on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Finally, Loop Capital reiterated a "hold" rating and issued a $68.00 price objective on shares of Core & Main in a report on Monday, July 28th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Core & Main presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.40.

Core & Main Stock Performance

Shares of NYSE:CNM traded down $16.87 during midday trading on Tuesday, hitting $49.72. The company's stock had a trading volume of 21,180,942 shares, compared to its average volume of 1,649,541. The stock has a market capitalization of $9.80 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.96 and a beta of 1.04. The stock's 50 day simple moving average is $63.64 and its 200 day simple moving average is $56.08. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $67.18. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.08. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.12 billion. Core & Main had a return on equity of 23.55% and a net margin of 5.47%.The firm's revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. Core & Main has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

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.