Core & Main, Inc. $CNM Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 520,952 shares of the company’s stock after selling 7,934 shares during the period. Rhumbline Advisers’ holdings in Core & Main were worth $31,439,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNM. Montrusco Bolton Investments Inc. purchased a new stake in shares of Core & Main during the 2nd quarter worth approximately $9,849,000. Allworth Financial LP raised its stake in Core & Main by 6,188.2% during the 2nd quarter. Allworth Financial LP now owns 9,055 shares of the company’s stock worth $546,000 after acquiring an additional 8,911 shares in the last quarter. Vident Advisory LLC lifted its position in Core & Main by 155.9% in the first quarter. Vident Advisory LLC now owns 10,808 shares of the company’s stock valued at $522,000 after acquiring an additional 6,584 shares during the last quarter. Bessemer Group Inc. boosted its stake in Core & Main by 0.4% in the second 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 in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Core & Main during the second quarter worth about $7,033,000. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Trading Up 2.1%

NYSE:CNM opened at $48.04 on Thursday. Core & Main, Inc. has a 12-month low of $43.17 and a 12-month high of $67.18. The company has a current ratio of 2.25, a quick ratio of 1.30 and a debt-to-equity ratio of 1.14. The stock’s 50 day simple moving average is $50.69 and its 200-day simple moving average is $56.60. The firm has a market cap of $9.48 billion, a P/E ratio of 21.45, a PEG ratio of 1.84 and a beta of 0.98.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CNM shares. Citigroup cut their target price on Core & Main from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 10th. Wells Fargo & Company boosted their price objective on Core & Main from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Truist Financial lowered their target price on shares of Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, September 11th. UBS Group assumed coverage on shares of Core & Main in a report on Monday, September 29th. They issued a “buy” rating and a $65.00 target price on the stock. Finally, Royal Bank Of Canada decreased their price target on shares of Core & Main from $67.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, September 10th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus target price 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.