UniSuper Management Pty Ltd Takes Position in Core & Main, Inc. $CNM

Key Points

• UniSuper Management Pty Ltd has acquired a new stake in Core & Main, purchasing 31,508 shares valued at approximately $1,522,000.
• Institutional investors hold 94.19% of Core & Main's stock, with several large investors significantly increasing their positions in the company during the first quarter.
• Analysts have lowered their price targets for Core & Main, with the average consensus price at $59.90 and a rating of "Moderate Buy."

UniSuper Management Pty Ltd purchased a new stake in Core & Main, Inc. (NYSE:CNM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,508 shares of the company's stock, valued at approximately $1,522,000.

Other large investors also recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in shares of Core & Main by 447.1% in the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock valued at $31,000 after purchasing an additional 532 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock valued at $35,000 after purchasing an additional 524 shares during the period. Rossby Financial LCC acquired a new position in shares of Core & Main in the 1st quarter valued at $37,000. CWM LLC lifted its stake in shares of Core & Main by 34.0% in the 1st quarter. CWM LLC now owns 839 shares of the company's stock valued at $41,000 after purchasing an additional 213 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Core & Main by 1,491.8% in the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock valued at $56,000 after purchasing an additional 1,089 shares during the period. Institutional investors and hedge funds own 94.19% of the company's stock.

Wall Street Analysts Forecast Growth

CNM has been the subject of a number of recent analyst reports. Barclays lowered their price objective on shares of Core & Main from $69.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday. Wells Fargo & Company lowered their price objective on shares of Core & Main from $70.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of Core & Main from $64.00 to $54.00 and set an "overweight" rating for the company in a research report on Wednesday. Royal Bank Of Canada lowered their price objective on shares of Core & Main from $67.00 to $62.00 and set an "outperform" rating for the company in a research report on Wednesday. Finally, Citigroup lowered their price objective on shares of Core & Main from $62.00 to $54.00 and set a "neutral" rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Core & Main has an average rating of "Moderate Buy" and a consensus price target of $59.90.

Core & Main Price Performance

CNM stock opened at $48.57 on Thursday. The stock has a 50-day moving average price of $63.38 and a two-hundred day moving average price of $56.02. The stock has a market cap of $9.57 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 1.47 and a beta of 1.04. The company has a current ratio of 2.25, a quick ratio of 1.10 and a debt-to-equity ratio of 1.14. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $67.18.

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

Insider Activity

In other Core & Main news, 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 completion of the transaction, the director owned 4,638 shares in the company, valued at approximately $287,463.24. This represents a 90.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen O. Leclair sold 80,028 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $62.27, for a total value of $4,983,343.56. Following the transaction, the insider owned 70,736 shares of the company's stock, valued at approximately $4,404,730.72. This trade represents a 53.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 422,956 shares of company stock worth $26,343,241. 3.53% of the stock is currently owned by insiders.

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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