SG Americas Securities LLC Has $1.92 Million Stock Position in Core & Main, Inc. $CNM

SG Americas Securities LLC cut its stake in shares of Core & Main, Inc. (NYSE:CNM) by 59.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,780 shares of the company’s stock after selling 46,994 shares during the period. SG Americas Securities LLC’s holdings in Core & Main were worth $1,918,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in shares of Core & Main by 6.3% during the first quarter. Envestnet Asset Management Inc. now owns 159,896 shares of the company’s stock worth $7,725,000 after purchasing an additional 9,473 shares during the last quarter. Montrusco Bolton Investments Inc. acquired a new stake in Core & Main during the 2nd quarter worth approximately $9,849,000. Vident Advisory LLC grew its holdings in Core & Main by 155.9% during the 1st quarter. Vident Advisory LLC now owns 10,808 shares of the company’s stock worth $522,000 after acquiring an additional 6,584 shares during the last quarter. Bessemer Group Inc. increased its position in Core & Main by 0.4% in the 2nd quarter. Bessemer Group Inc. now owns 3,371,475 shares of the company’s stock valued at $203,467,000 after acquiring an additional 14,244 shares during the period. Finally, Allworth Financial LP raised its stake in shares of Core & Main by 6,188.2% during the second quarter. Allworth Financial LP now owns 9,055 shares of the company’s stock valued at $546,000 after acquiring an additional 8,911 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CNM has been the topic of several analyst reports. The Goldman Sachs Group reduced their price objective on shares of Core & Main from $68.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Royal Bank Of Canada reduced their price target on Core & Main from $67.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 10th. Barclays lowered their price objective on Core & Main from $69.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, September 10th. Wells Fargo & Company upped their target price on Core & Main from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. Finally, Zacks Research upgraded shares of Core & Main from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and an average target price of $60.64.

Core & Main Trading Down 0.7%

Shares of CNM stock opened at $45.37 on Thursday. 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 company has a market cap of $8.96 billion, a P/E ratio of 20.25, a PEG ratio of 1.79 and a beta of 0.98. Core & Main, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $67.18. The stock has a 50 day simple moving average of $51.03 and a two-hundred day simple moving average of $56.80.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, September 9th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the previous year, the business posted $0.61 EPS. The business’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 earnings per share for the current year.

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.