Engineers Gate Manager LP Sells 479,866 Shares of Core & Main, Inc. $CNM

Engineers Gate Manager LP lowered its position in shares of Core & Main, Inc. (NYSE:CNM) by 67.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 230,925 shares of the company’s stock after selling 479,866 shares during the period. Engineers Gate Manager LP’s holdings in Core & Main were worth $11,142,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in shares of Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after buying an additional 269 shares during the period. Cubist Systematic Strategies LLC lifted its position in 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 period. Quarry LP purchased a new position in Core & Main during the 4th quarter valued at about $38,000. Root Financial Partners LLC boosted its stake in Core & Main by 111.6% during the first quarter. Root Financial Partners LLC now owns 895 shares of the company’s stock worth $44,000 after acquiring an additional 472 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Core & Main during the fourth quarter worth about $44,000. Institutional investors own 94.19% of the company’s stock.

Core & Main News Roundup

Here are the key news stories impacting Core & Main this week:

• Positive Sentiment: Core & Main reported fiscal second-quarter adjusted earnings of $0.94 per share, ahead of the roughly $0.91–$0.93 consensus, while revenue of $2.15 billion increased 2.5% year over year and slightly exceeded estimates. Core & Main Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management reaffirmed its fiscal 2026 outlook, including revenue of $7.8 billion to $7.9 billion, above the approximately $7.7 billion analyst consensus. Growth was supported by fire-protection products and acquisitions. Core & Main Reaffirms FY26 Outlook
• Neutral Sentiment: Brokerage sentiment remains generally constructive, with Core & Main receiving a consensus rating of “Moderate Buy.” Robert W. Baird kept an “outperform” rating but lowered its price target from $66 to $57, still implying substantial potential upside from recent levels. Core & Main Given Consensus Rating of Moderate Buy
• Negative Sentiment: Truist cut its price target from $50 to $45 and maintained a “hold” rating, signaling more limited near-term conviction despite the target remaining above the recent share price. Truist Cuts Price Target on Core & Main
• Negative Sentiment: Investors are concerned that growth in smart utilities and storm drainage remains tepid, prompting analysts to reduce forecasts after the earnings report. The stock subsequently reached a two-year low as markets weighed subdued organic growth against the earnings beat. Core & Main Slides to Two-Year Low on Organic Growth Concerns

Core & Main Stock Performance

Shares of CNM stock opened at $40.71 on Friday. Core & Main, Inc. has a one year low of $40.41 and a one year high of $59.66. The company’s 50-day moving average is $44.57 and its 200 day moving average is $47.88. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 1.43 and a beta of 0.91. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.31 and a current ratio of 2.47.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Wednesday, September 9th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.14 billion. Core & Main had a net margin of 5.96% and a return on equity of 25.98%. Core & Main’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business earned $0.87 EPS. Sell-side analysts expect that Core & Main, Inc. will post 3.08 EPS for the current fiscal year.

Insider Activity at Core & Main

In other news, Director James Hope purchased 2,067 shares of Core & Main stock in a transaction that occurred on Monday, July 6th. The stock was bought at an average price of $46.01 per share, with a total value of $95,102.67. Following the completion of the transaction, the director directly owned 11,805 shares of the company’s stock, valued at approximately $543,148.05. The trade was a 21.23% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.51% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CNM has been the topic of a number of recent research reports. Wall Street Zen cut shares of Core & Main from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. William Blair began coverage on Core & Main in a research report on Thursday, July 23rd. They issued a “market perform” rating on the stock. Robert W. Baird dropped their price target on Core & Main from $66.00 to $57.00 and set an “outperform” rating on the stock in a research report on Thursday. Barclays cut their price target on Core & Main from $62.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Royal Bank Of Canada reduced their price objective on Core & Main from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.60.

About Core & Main

Core & Main, Inc (NYSE: CNM) is a specialized distributor of water, wastewater, storm drainage and fire protection products in the United States. The company supplies infrastructure materials used in the construction, maintenance and repair of public and private utility systems.

Its product offerings include ductile iron and PVC pipe, valves, hydrants, water meters, storm drainage systems, pipe fittings, fire protection equipment and related products. Core & Main also provides services such as product sourcing, technical support, fabrication, field assistance and inventory management to help customers complete infrastructure projects.

Core & Main serves municipalities, utility contractors, water and wastewater authorities, private water companies, civil and site-development contractors, and other industrial customers through a nationwide distribution network.