Core & Main, Inc. $CNM Shares Sold by Southeast Asset Advisors LLC

Key Points

• Southeast Asset Advisors LLC reduced its stake in Core & Main, Inc. (NYSE:CNM) by 15.5%, selling 13,595 shares during the 1st quarter, bringing their holdings to 73,862 shares valued at approximately $3.57 million.
• Multiple institutional investors made significant changes to their Core & Main positions in the 1st quarter, with Parallel Advisors LLC increasing its holdings by 447.1%, showcasing growing investor interest.
• Core & Main recently reported earnings per share of $0.52, matching analysts' expectations, and noted a revenue increase to $1.91 billion, up 9.8% from the previous year.

Southeast Asset Advisors LLC reduced its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 15.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,862 shares of the company's stock after selling 13,595 shares during the quarter. Southeast Asset Advisors LLC's holdings in Core & Main were worth $3,568,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Fiduciary Management Inc. WI increased its stake in shares of Core & Main by 0.3% during the 1st quarter. Fiduciary Management Inc. WI now owns 2,841,734 shares of the company's stock valued at $137,284,000 after acquiring an additional 8,052 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Core & Main by 12.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,232,542 shares of the company's stock worth $107,857,000 after purchasing an additional 244,500 shares during the last quarter. Artemis Investment Management LLP raised its stake in Core & Main by 109.6% during the first quarter. Artemis Investment Management LLP now owns 1,791,935 shares of the company's stock worth $86,568,000 after purchasing an additional 936,863 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Core & Main by 6.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,781,525 shares of the company's stock worth $86,065,000 after purchasing an additional 114,760 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Core & Main by 15.3% in the 4th quarter. Northern Trust Corp now owns 1,758,965 shares of the company's stock valued at $89,549,000 after purchasing an additional 233,979 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CNM has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their price objective on Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. JPMorgan Chase & Co. upped their price target on Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Wells Fargo & Company raised their price objective on Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Citigroup boosted their target price on Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Finally, Loop Capital restated a "hold" rating and issued a $68.00 price target on shares of Core & Main in a report on Monday, July 28th. 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $60.00.

Core & Main Stock Down 1.0%

CNM traded down $0.64 during trading hours on Thursday, reaching $65.11. 972,196 shares of the stock traded hands, compared to its average volume of 1,941,608. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $66.27. The company has a market cap of $12.83 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 1.92 and a beta of 1.04. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.96 and a quick ratio of 1.10. The firm's fifty day simple moving average is $62.81 and its two-hundred day simple moving average is $55.45.

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

Insider Transactions at Core & Main

In other news, insider Laura K. Schneider sold 45,695 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the completion of the transaction, the insider directly owned 12,873 shares in the company, valued at approximately $724,106.25. This represents a 78.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James G. Castellano sold 43,994 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $61.98, for a total transaction of $2,726,748.12. Following the sale, the director directly owned 4,638 shares of the company's stock, valued at $287,463.24. The trade was a 90.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 518,651 shares of company stock valued at $31,915,085 in the last three months. 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.