Steph & Co. Purchases New Position in Core & Main, Inc. $CNM

Steph & Co. acquired a new position in Core & Main, Inc. (NYSE:CNM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 878 shares of the company’s stock, valued at approximately $53,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in Core & Main by 447.1% in the first quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock worth $31,000 after purchasing an additional 532 shares in the last quarter. Bfsg LLC boosted its stake 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 purchasing an additional 202 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after purchasing an additional 524 shares in the last quarter. Rossby Financial LCC acquired a new position in Core & Main in the first quarter worth $37,000. Finally, CWM LLC boosted its stake 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 purchasing an additional 213 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Trading Up 3.3%

NYSE CNM opened at $52.78 on Friday. The stock has a 50-day simple moving average of $60.64 and a 200 day simple moving average of $56.15. The company has a market capitalization of $10.42 billion, a PE ratio of 23.56, a P/E/G ratio of 2.00 and a beta of 1.04. The company has a current ratio of 2.25, a quick ratio of 1.30 and a debt-to-equity ratio of 1.14. Core & Main, Inc. has a 12 month low of $41.60 and a 12 month high of $67.18.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CNM. Loop Capital restated a “hold” rating and set a $68.00 target price on shares of Core & Main in a research report on Monday, July 28th. Truist Financial dropped their target price on Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, September 11th. Royal Bank Of Canada dropped their target price on Core & Main from $67.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, September 10th. JPMorgan Chase & Co. dropped their target price on Core & Main from $64.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, September 10th. Finally, Citigroup dropped their target price on Core & Main from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, September 10th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.60.

Insider Buying and Selling

In other Core & Main news, CEO Mark R. Witkowski sold 100,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 35,847 shares in the company, valued at $2,297,075.76. This represents a 73.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Orvin T. Kimbrough sold 23,962 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $61.77, for a total value of $1,480,132.74. Following the completion of the sale, the director owned 13,958 shares of the company’s stock, valued at $862,185.66. This trade represents a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 422,956 shares of company stock valued at $26,343,241. 3.53% of the stock is owned by company 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.