Johnson Investment Counsel Inc. Acquires 8,286 Shares of Core & Main, Inc. $CNM

Johnson Investment Counsel Inc. boosted its holdings in Core & Main, Inc. (NYSE:CNM) by 24.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 42,826 shares of the company’s stock after purchasing an additional 8,286 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Core & Main were worth $2,585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bfsg LLC boosted its stake in Core & Main by 56.4% in the 2nd quarter. Bfsg LLC now owns 560 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after acquiring an additional 524 shares during the last quarter. Rossby Financial LCC bought a new position in shares of Core & Main during the 1st quarter valued at approximately $37,000. CWM LLC boosted 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 acquiring an additional 213 shares during the last quarter. Finally, Steph & Co. bought a new position in shares of Core & Main during the 2nd quarter valued at approximately $53,000. 94.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Core & Main news, Director Orvin T. Kimbrough sold 23,962 shares of the stock in a transaction on 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 sale, the director owned 13,958 shares in the company, valued at $862,185.66. This trade represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robyn L. Bradbury sold 5,000 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $64.51, for a total value of $322,550.00. Following the completion of the sale, the chief financial officer owned 8,555 shares in the company, valued at approximately $551,883.05. The trade was a 36.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 272,956 shares of company stock worth $17,063,431. 3.53% of the stock is currently owned by company insiders.

Core & Main Stock Performance

CNM stock opened at $49.52 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 2.25 and a debt-to-equity ratio of 1.14. The business’s fifty day simple moving average is $57.85 and its two-hundred day simple moving average is $56.52. Core & Main, Inc. has a twelve month low of $41.64 and a twelve month high of $67.18. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 1.93 and a beta of 0.98.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share 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 business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter last year, the firm posted $0.61 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. Core & Main has set its FY 2025 guidance at EPS. Analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analyst Ratings Changes

CNM has been the subject of a number of research reports. Citigroup lowered 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. Loop Capital reiterated a “hold” rating and set a $68.00 target price on shares of Core & Main in a research report on Monday, July 28th. Barclays lowered their target price 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. Truist Financial lowered 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. Finally, UBS Group began coverage on Core & Main in a report on Monday, September 29th. They set a “buy” rating and a $65.00 price target on the stock. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.27.

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.