Envestnet Asset Management Inc. Buys 27,892 Shares of Core & Main, Inc. $CNM

Envestnet Asset Management Inc. raised its stake in shares of Core & Main, Inc. (NYSE:CNM) by 17.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 187,788 shares of the company’s stock after buying an additional 27,892 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Core & Main were worth $11,333,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bfsg LLC grew its stake in Core & Main by 56.4% during the second quarter. Bfsg LLC now owns 560 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in 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. CWM LLC grew its position in shares of Core & Main by 34.0% during the 1st quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after purchasing an additional 213 shares in the last quarter. Steph & Co. purchased a new position in shares of Core & Main during the 2nd quarter valued at $53,000. Finally, Summit Securities Group LLC bought a new position in shares of Core & Main in the first quarter worth $72,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Trading Down 0.4%

Shares of CNM opened at $50.88 on Friday. Core & Main, Inc. has a fifty-two week low of $41.64 and a fifty-two week high of $67.18. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 1.99 and a beta of 0.98. The firm has a 50 day moving average price of $53.24 and a 200-day moving average price of $57.08. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.30 and a current ratio of 2.25.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Core & Main from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. The Goldman Sachs Group dropped their price target on Core & Main from $68.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. Citigroup cut their price objective on Core & Main from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, September 10th. Royal Bank Of Canada lowered their target price on shares of Core & Main from $67.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 10th. Finally, Barclays dropped their target price 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, September 10th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.64.

Insider Buying and Selling at Core & Main

In other news, CEO Mark R. Witkowski sold 100,000 shares of the business’s 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 owned 35,847 shares of the company’s stock, valued at approximately $2,297,075.76. The trade was a 73.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.53% of the company’s stock.

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.