Core & Main, Inc. $CNM Shares Sold by Versor Investments LP

Key Points

• Versor Investments LP reduced its stake in Core & Main, Inc. by 14.4%, selling 4,153 shares and now holding 24,647 shares valued at approximately $1.19 million.
• Core & Main's recent earnings report showed a net margin of 5.47% and revenue of $1.91 billion, exceeding analysts' expectations.
• Several analysts have raised their price targets for Core & Main, with Wells Fargo increasing theirs from $65.00 to $70.00, maintaining an "overweight" rating.

Versor Investments LP lessened its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 14.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,647 shares of the company's stock after selling 4,153 shares during the quarter. Versor Investments LP's holdings in Core & Main were worth $1,191,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in Core & Main by 447.1% in the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock worth $31,000 after acquiring an additional 532 shares during the period. Rossby Financial LCC purchased a new position in Core & Main in the 1st quarter worth approximately $37,000. CWM LLC boosted 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 acquiring an additional 213 shares during the period. Versant Capital Management Inc boosted 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 acquiring an additional 1,089 shares during the period. Finally, Ancora Advisors LLC purchased a new position in Core & Main in the 4th quarter worth approximately $75,000. Hedge funds and other institutional investors own 94.19% of the company's stock.

Insider Transactions at Core & Main

In other Core & Main news, CEO Mark R. Witkowski sold 100,000 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $64.08, for a total value of $6,408,000.00. Following the sale, the chief executive officer directly owned 35,847 shares of the company's stock, valued at $2,297,075.76. This trade represents a 73.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen O. Leclair sold 44,972 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $61.91, for a total value of $2,784,216.52. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 528,445 shares of company stock valued at $32,453,755 over the last three months. 3.53% of the stock is currently owned by company insiders.

Core & Main Stock Performance

CNM traded up $1.4390 during trading hours on Friday, hitting $65.4190. 2,014,313 shares of the stock were exchanged, compared to its average volume of 1,704,555. The stock has a 50-day simple moving average of $62.26 and a 200-day simple moving average of $55.24. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $66.27. The stock has a market cap of $12.90 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 1.89 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.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CNM. Citigroup upped their price target on Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Royal Bank Of Canada increased their target price on Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. JPMorgan Chase & Co. increased their target price on Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Wells Fargo & Company increased their target price on Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Loop Capital reiterated a "hold" rating and set a $68.00 target price on shares of Core & Main in a research note on Monday, July 28th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Core & Main currently has an average rating of "Hold" and a consensus target price of $60.00.

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.