Pembroke Management LTD Raises Stake in Core & Main, Inc. $CNM

Pembroke Management LTD increased its position in shares of Core & Main, Inc. (NYSE:CNM) by 19.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 718,337 shares of the company’s stock after purchasing an additional 115,540 shares during the quarter. Core & Main makes up about 5.3% of Pembroke Management LTD’s holdings, making the stock its biggest position. Pembroke Management LTD owned approximately 0.36% of Core & Main worth $43,352,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Bfsg LLC lifted its position in shares of Core & Main by 56.4% during the 2nd quarter. Bfsg LLC now owns 560 shares of the company’s stock worth $34,000 after buying an additional 202 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Core & Main by 262.0% during the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after acquiring an additional 524 shares during the period. Hantz Financial Services Inc. boosted its position in Core & Main by 815.7% in the second quarter. Hantz Financial Services Inc. now owns 641 shares of the company’s stock worth $39,000 after purchasing an additional 571 shares during the last quarter. CWM LLC grew its stake in Core & Main by 34.0% in the 1st quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after purchasing an additional 213 shares during the period. Finally, Steph & Co. purchased a new stake in shares of Core & Main during the 2nd quarter valued at $53,000. 94.19% of the stock is owned by institutional investors.

Core & Main Price Performance

Shares of NYSE:CNM opened at $50.84 on Tuesday. The firm has a market capitalization of $10.04 billion, a PE ratio of 22.70, a P/E/G ratio of 1.99 and a beta of 0.98. 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 company has a 50-day moving average price of $52.96 and a two-hundred day moving average price of $57.12. Core & Main, Inc. has a twelve month low of $41.64 and a twelve month high of $67.18.

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

Insider Activity

In other Core & Main news, CEO Mark R. Witkowski sold 100,000 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $64.08, for a total transaction of $6,408,000.00. Following the sale, 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 legal filing with the SEC, which is available at this link. 3.53% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CNM shares. Royal Bank Of Canada cut their price target on shares of Core & Main from $67.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, September 10th. UBS Group started coverage on shares of Core & Main in a research note on Monday, September 29th. They issued a “buy” rating and a $65.00 target price on the stock. The Goldman Sachs Group reduced their target price on shares of 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 decreased their price target on shares of Core & Main from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, September 10th. Finally, Zacks Research downgraded Core & Main from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Core & Main has an average rating of “Moderate Buy” and an average price target of $60.64.

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.