Vident Advisory LLC Has $522,000 Stake in Core & Main, Inc. $CNM

Key Points

• Vident Advisory LLC increased its stake in Core & Main, Inc. by 155.9%, acquiring an additional 6,584 shares and bringing its total holdings to 10,808 shares valued at approximately $522,000.
• Core & Main CEO Mark R. Witkowski sold 100,000 shares for $6.41 million, resulting in a 73.61% decrease in his ownership, while other insiders have also sold significant portions of their shares recently.
• The stock has experienced a 52-week price range between $37.22 and $67.18, with a current market capitalization of $13.19 billion and positive year-over-year revenue growth of 9.8%.

Vident Advisory LLC boosted its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 155.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,808 shares of the company's stock after buying an additional 6,584 shares during the quarter. Vident Advisory LLC's holdings in Core & Main were worth $522,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fiduciary Management Inc. WI raised its holdings in shares of Core & Main by 0.3% during the 1st quarter. Fiduciary Management Inc. WI now owns 2,841,734 shares of the company's stock valued at $137,284,000 after purchasing an additional 8,052 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Core & Main by 12.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,232,542 shares of the company's stock valued at $107,857,000 after buying an additional 244,500 shares during the last quarter. Artemis Investment Management LLP grew its stake in Core & Main by 109.6% in the 1st quarter. Artemis Investment Management LLP now owns 1,791,935 shares of the company's stock valued at $86,568,000 after buying an additional 936,863 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Core & Main by 6.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,781,525 shares of the company's stock valued at $86,065,000 after buying an additional 114,760 shares during the last quarter. Finally, KBC Group NV grew its stake in Core & Main by 5.3% in the 1st quarter. KBC Group NV now owns 1,725,810 shares of the company's stock valued at $83,374,000 after buying an additional 86,672 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CNM shares. Royal Bank Of Canada decreased their price target on shares of Core & Main from $67.00 to $62.00 and set an "outperform" rating on the stock in a research report on Wednesday. Wells Fargo & Company decreased their price target on shares of Core & Main from $70.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday. 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. Loop Capital reissued a "hold" rating and issued a $68.00 price target on shares of Core & Main in a research report on Monday, July 28th. Finally, Citigroup dropped their price target 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 equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.30.

Core & Main Trading Up 2.5%

Shares of CNM traded up $1.24 on Thursday, reaching $49.80. 3,678,748 shares of the company's stock were exchanged, compared to its average volume of 2,089,635. The company has a current ratio of 2.25, a quick ratio of 1.10 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $9.82 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 1.47 and a beta of 1.04. The business has a 50 day moving average price of $63.38 and a two-hundred day moving average price of $56.02. Core & Main, Inc. has a 12 month low of $38.66 and a 12 month high of $67.18.

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

Insider Buying and Selling at Core & Main

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

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.