UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Raises Stock 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 grew its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 about 0.43% of Core & Main worth $41,261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. increased its holdings 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 valued at $12,238,000 after purchasing an additional 21,702 shares during the last quarter. Deutsche Bank AG lifted its holdings in Core & Main by 2.0% during the 4th quarter. Deutsche Bank AG now owns 111,944 shares of the company's stock worth $5,699,000 after buying an additional 2,207 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Core & Main by 47.7% during the fourth quarter. Lazard Asset Management LLC now owns 10,696 shares of the company's stock worth $544,000 after purchasing an additional 3,456 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Core & Main by 13.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,042 shares of the company's stock worth $1,326,000 after purchasing an additional 3,049 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in Core & Main by 4.1% in the 4th quarter. Nuveen Asset Management LLC now owns 720,936 shares of the company's stock valued at $36,703,000 after acquiring an additional 28,396 shares during the period. Hedge funds and other institutional investors own 94.19% of the company's stock.

Insider Transactions at Core & Main

In other Core & Main news, CFO Robyn L. Bradbury sold 25,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $60.49, for a total value of $1,512,250.00. Following the transaction, the chief financial officer directly owned 8,555 shares in the company, valued at $517,491.95. The trade was a 74.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark R. Witkowski sold 100,000 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $64.08, for a total transaction of $6,408,000.00. Following the completion of the transaction, the chief executive officer owned 35,847 shares in the company, valued at approximately $2,297,075.76. This trade represents a 73.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 422,956 shares of company stock valued at $26,343,241. 3.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CNM shares. Citigroup lowered their price target on Core & Main from $62.00 to $54.00 and set a "neutral" rating on the stock in a report on Wednesday, September 10th. 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. JPMorgan Chase & Co. reduced their price target on shares of Core & Main from $64.00 to $54.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 10th. Truist Financial cut their price target on Core & Main from $56.00 to $50.00 and set a "hold" rating on the stock in a report on Thursday. Finally, Barclays decreased their price target on shares of Core & Main from $69.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 10th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Core & Main has an average rating of "Moderate Buy" and an average target price of $59.60.

Core & Main Stock Down 1.4%

Shares of CNM opened at $48.76 on Monday. The firm has a market capitalization of $9.61 billion, a P/E ratio of 21.77, a P/E/G ratio of 1.91 and a beta of 1.04. The company has a 50-day simple moving average of $62.85 and a 200-day simple moving average of $56.09. Core & Main, Inc. has a 52 week low of $39.86 and a 52 week high of $67.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.30 and a current ratio of 2.25.

Core & Main (NYSE:CNM - Get Free Report) last posted its earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.08. The business had revenue of $2.09 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share. Core & Main has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

About Core & Main

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.

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