Core & Main, Inc. $CNM Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in shares of Core & Main, Inc. (NYSE:CNM) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 94,192 shares of the company’s stock after selling 3,697 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Core & Main were worth $5,684,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its position in Core & Main by 84.1% in the 1st quarter. GAMMA Investing LLC now owns 4,086 shares of the company’s stock valued at $197,000 after acquiring an additional 1,867 shares during the period. State of Alaska Department of Revenue increased its position in Core & Main by 1.5% in the 1st quarter. State of Alaska Department of Revenue now owns 22,285 shares of the company’s stock valued at $1,076,000 after acquiring an additional 330 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Core & Main by 3.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company’s stock valued at $343,000 after acquiring an additional 229 shares during the period. Perpetual Ltd increased its position in Core & Main by 12.4% in the 1st quarter. Perpetual Ltd now owns 223,671 shares of the company’s stock valued at $10,806,000 after acquiring an additional 24,610 shares during the period. Finally, Artemis Investment Management LLP increased its position 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 acquiring an additional 936,863 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CNM has been the topic of several analyst reports. UBS Group initiated coverage on Core & Main in a research report on Monday, September 29th. They issued a “buy” rating and a $65.00 target price on the stock. Loop Capital restated a “hold” rating and issued a $68.00 target price on shares of Core & Main in a research report on Monday, July 28th. Truist Financial lowered their target price on Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, September 11th. The Goldman Sachs Group lowered their target price on Core & Main from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, September 12th. Finally, Barclays decreased their price target on Core & Main from $69.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, September 10th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Core & Main currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.64.

Core & Main Stock Performance

Shares of NYSE CNM opened at $53.91 on Wednesday. The stock has a fifty day moving average price of $56.44 and a two-hundred day moving average price of $56.63. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.30 and a current ratio of 2.25. The firm has a market cap of $10.64 billion, a P/E ratio of 24.07, a PEG ratio of 2.06 and a beta of 0.98. Core & Main, Inc. has a 1 year low of $41.64 and a 1 year high of $67.18.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.12 billion. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS. 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 fiscal year.

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 transaction of $6,408,000.00. Following the completion of the transaction, the chief executive officer directly owned 35,847 shares of the company’s stock, valued at approximately $2,297,075.76. This trade represents a 73.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.53% of the company’s stock.

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.