UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Increases Holdings in Core & Main, Inc. $CNM

Key Points

• UBS AM increased its stake in Core & Main, Inc. by 8.6%, holding approximately 854,095 shares valued at $41.26 million as of the latest SEC filing.
• Insider transactions involved significant sales, with CFO Robyn L. Bradbury selling 25,000 shares and CEO Mark R. Witkowski selling 100,000 shares, indicating a 74.5% and 73.6% decrease in their ownership, respectively.
• Analyst ratings have fluctuated, with several firms lowering their price targets on Core & Main to a range between $50.00 and $60.00, while the stock currently holds an average rating of "Moderate Buy."

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 8.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 854,095 shares of the company's stock after acquiring an additional 67,351 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.43% of Core & Main worth $41,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in 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. Rossby Financial LCC purchased a new stake in Core & Main in the 1st quarter worth approximately $37,000. Cubist Systematic Strategies LLC lifted its holdings in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock worth $35,000 after buying an additional 524 shares during the period. CWM LLC lifted its holdings in Core & Main by 34.0% in the 1st quarter. CWM LLC now owns 839 shares of the company's stock worth $41,000 after buying an additional 213 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in Core & Main by 1,491.8% in the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock worth $56,000 after buying an additional 1,089 shares during the period. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Stock Up 1.1%

Shares of Core & Main stock traded up $0.56 on Friday, reaching $50.92. The company's stock had a trading volume of 4,515,425 shares, compared to its average volume of 3,479,657. The company has a market capitalization of $10.04 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 1.97 and a beta of 1.04. The firm's fifty day simple moving average is $61.63 and its two-hundred day simple moving average is $56.02. Core & Main, Inc. has a 52 week low of $41.60 and a 52 week high of $67.18. The company has a quick ratio of 1.30, a current ratio of 2.25 and a debt-to-equity ratio of 1.14.

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

Insider Activity at Core & Main

In related news, insider Stephen O. Leclair sold 80,028 shares of Core & Main stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $62.27, for a total transaction of $4,983,343.56. Following the transaction, the insider directly owned 70,736 shares in the company, valued at approximately $4,404,730.72. The trade was a 53.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Orvin T. Kimbrough sold 23,962 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $61.77, for a total value of $1,480,132.74. Following the completion of the transaction, the director owned 13,958 shares in the company, valued at $862,185.66. The trade was a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 422,956 shares of company stock valued at $26,343,241 in the last ninety days. Corporate insiders own 3.53% of the company's stock.

Analyst Upgrades and Downgrades

CNM has been the subject of several research analyst reports. Citigroup dropped their price objective on Core & Main from $62.00 to $54.00 and set a "neutral" rating for the company in a report on Wednesday, September 10th. JPMorgan Chase & Co. dropped their price objective on Core & Main from $64.00 to $54.00 and set an "overweight" rating for the company in a report on Wednesday, September 10th. 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. Royal Bank Of Canada dropped their price objective on Core & Main from $67.00 to $62.00 and set an "outperform" rating for the company in a report on Wednesday, September 10th. Finally, The Goldman Sachs Group lowered their target price on Core & Main from $68.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, September 12th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Core & Main has a consensus rating of "Moderate Buy" and a consensus 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.