Union Bancaire Privee UBP SA Sells 12,332 Shares of Core & Main, Inc. $CNM

Key Points

• Union Bancaire Privee UBP SA sold 12,332 shares of Core & Main, Inc., reducing its holdings by 64.9% to 6,680 shares valued at $396,000.
• Insider Stephen O. Leclair sold 44,972 shares of Core & Main stock, resulting in a 38.87% decrease in his ownership.
• Core & Main reported earnings of $0.87 per share for the last quarter, surpassing the consensus estimate of $0.79, with revenue of $2.09 billion.

Union Bancaire Privee UBP SA decreased its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 64.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,680 shares of the company's stock after selling 12,332 shares during the period. Union Bancaire Privee UBP SA's holdings in Core & Main were worth $396,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Enhancing Capital LLC increased its stake in shares of Core & Main by 0.6% during the first quarter. Enhancing Capital LLC now owns 31,846 shares of the company's stock valued at $1,538,000 after purchasing an additional 196 shares in the last quarter. Bfsg LLC raised its holdings in Core & Main by 56.4% in the second quarter. Bfsg LLC now owns 560 shares of the company's stock worth $34,000 after buying an additional 202 shares during the last quarter. CWM LLC raised its holdings in Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company's stock worth $41,000 after buying an additional 213 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Core & Main by 3.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock worth $343,000 after buying an additional 229 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its holdings in Core & Main by 2.6% in the first quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company's stock worth $527,000 after buying an additional 272 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Loop Capital reaffirmed a "hold" rating and issued a $68.00 target price on shares of Core & Main in a report on Monday, July 28th. Wells Fargo & Company lifted their price target on shares of Core & Main from $58.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday. Royal Bank Of Canada reduced their price target on shares of Core & Main from $67.00 to $62.00 and set an "outperform" rating for the company in a research note on Wednesday, September 10th. UBS Group initiated coverage on shares of Core & Main in a research note on Monday. They issued a "buy" rating and a $65.00 price target for the company. Finally, Zacks Research lowered shares of Core & Main from a "hold" rating to a "strong sell" rating in a research note on Monday. Seven 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.27.

Insider Activity at Core & Main

In other Core & Main news, insider Stephen O. Leclair sold 44,972 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $61.91, for a total value of $2,784,216.52. Following the completion of the transaction, the insider directly owned 70,736 shares in the company, valued at $4,379,265.76. This represents a 38.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Orvin T. Kimbrough sold 23,962 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director owned 13,958 shares of the company's stock, valued at approximately $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 a total of 317,928 shares of company stock valued at $19,847,647 in the last three months. Corporate insiders own 3.53% of the company's stock.

Core & Main Stock Performance

Shares of NYSE CNM opened at $52.63 on Thursday. The firm has a 50 day moving average of $59.98 and a 200 day moving average of $56.28. The company has a current ratio of 2.25, a quick ratio of 1.30 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $10.39 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 2.11 and a beta of 0.99. Core & Main, Inc. has a 12-month low of $41.60 and a 12-month high of $67.18.

Core & Main (NYSE:CNM - Get Free Report) last announced its 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 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 firm's quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 earnings per share. Core & Main has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Core & Main 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.

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