Foster & Motley Inc. Has $2.47 Million Stake in Core & Main, Inc. $CNM

Foster & Motley Inc. decreased its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,958 shares of the company’s stock after selling 281 shares during the quarter. Foster & Motley Inc.’s holdings in Core & Main were worth $2,472,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Nordea Investment Management AB grew its position in shares of Core & Main by 0.3% during the 2nd quarter. Nordea Investment Management AB now owns 154,797 shares of the company’s stock worth $9,275,000 after buying an additional 516 shares during the period. Bridges Investment Management Inc. acquired a new stake in shares of Core & Main during the 2nd quarter worth approximately $212,000. Montrusco Bolton Investments Inc. acquired a new stake in shares of Core & Main during the 2nd quarter worth approximately $9,849,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Core & Main during the 2nd quarter worth approximately $25,461,000. Finally, Meritage Portfolio Management grew its position in shares of Core & Main by 90.2% during the 2nd quarter. Meritage Portfolio Management now owns 25,520 shares of the company’s stock worth $1,540,000 after buying an additional 12,104 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Up 0.4%

Core & Main stock opened at $52.17 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.25 and a quick ratio of 1.30. Core & Main, Inc. has a fifty-two week low of $41.64 and a fifty-two week high of $67.18. The company’s 50 day simple moving average is $56.89 and its 200 day simple moving average is $56.54. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 2.05 and a beta of 0.98.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. UBS Group assumed coverage on shares of Core & Main in a research report on Monday, September 29th. They set a “buy” rating and a $65.00 price target for the company. Citigroup reduced their price objective on shares of Core & Main from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 10th. 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. Truist Financial reduced their price objective on shares of Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, September 11th. Finally, Loop Capital reissued a “hold” rating and set a $68.00 price objective on shares of Core & Main in a research note on Monday, July 28th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.64.

Insider Activity at Core & Main

In other news, CEO Mark R. Witkowski sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $64.08, for a total value of $6,408,000.00. Following the completion of the transaction, the chief executive officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $64.51, for a total transaction of $322,550.00. Following the completion of the transaction, the chief financial officer owned 8,555 shares of the company’s stock, valued at $551,883.05. This trade represents a 36.89% decrease in their position. The disclosure for this sale can be found here. 3.53% of the stock is owned by corporate insiders.

Core & Main Company 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.