Sciencast Management LP Acquires 27,599 Shares of Core & Main, Inc. $CNM

Key Points

• Sciencast Management LP increased its stake in Core & Main, Inc. (NYSE: CNM) by 130.0% in Q1, owning 48,826 shares valued at $2,359,000.
• Several institutional investors, including Jennison Associates and Nuveen LLC, have made significant investments in Core & Main, with institutional ownership now at 94.19%.
• Core & Main reported a quarterly revenue of $1.91 billion, exceeding analysts' expectations and marking a 9.8% year-over-year increase.

Sciencast Management LP lifted its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 130.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,826 shares of the company's stock after acquiring an additional 27,599 shares during the period. Sciencast Management LP's holdings in Core & Main were worth $2,359,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC lifted its position in shares of Core & Main by 447.1% during the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock valued at $31,000 after acquiring an additional 532 shares during the period. Cubist Systematic Strategies LLC lifted its position in shares of Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock valued at $35,000 after acquiring an additional 524 shares during the period. Rossby Financial LCC acquired a new position in shares of Core & Main during the 1st quarter valued at $37,000. CWM LLC lifted its position in shares of Core & Main by 34.0% during 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. Finally, Versant Capital Management Inc lifted its position in shares of Core & Main by 1,491.8% during the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock valued at $56,000 after acquiring an additional 1,089 shares during the period. Institutional investors and hedge funds own 94.19% of the company's stock.

Core & Main Stock Down 1.4%

Shares of NYSE CNM traded down $0.69 during trading on Friday, hitting $48.76. The stock had a trading volume of 3,652,711 shares, compared to its average volume of 2,968,833. Core & Main, Inc. has a 12 month low of $39.86 and a 12 month high of $67.18. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.25 and a quick ratio of 1.10. The company has a market capitalization of $9.61 billion, a PE ratio of 21.77, a PEG ratio of 1.88 and a beta of 1.04. The firm has a fifty day moving average of $62.85 and a two-hundred day moving average of $56.05.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CNM. Wells Fargo & Company dropped their target price 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. The Goldman Sachs Group lowered their price objective on shares of Core & Main from $68.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday. 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. Barclays lowered their price objective on shares of Core & Main from $69.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Core & Main from $64.00 to $54.00 and set an "overweight" rating on the stock in a report on Wednesday. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.60.

Insider Activity at Core & Main

In related news, CFO Robyn L. Bradbury sold 25,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $60.49, for a total transaction of $1,512,250.00. Following the completion of the transaction, the chief financial officer owned 8,555 shares in the company, valued at approximately $517,491.95. This represents a 74.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James G. Castellano sold 43,994 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $61.98, for a total transaction of $2,726,748.12. Following the transaction, the director owned 4,638 shares of the company's stock, valued at $287,463.24. This represents a 90.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 422,956 shares of company stock valued at $26,343,241 in the last 90 days. 3.53% of the stock is currently owned by company insiders.

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.