Inceptionr LLC Takes $1.14 Million Position in Core & Main, Inc. $CNM

Inceptionr LLC bought a new position in Core & Main, Inc. (NYSE:CNM) during the 2nd quarter, HoldingsChannel reports. The fund bought 18,852 shares of the company’s stock, valued at approximately $1,138,000.

A number of other hedge funds have also made changes to their positions in CNM. CWM LLC boosted its position in Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after buying an additional 213 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Core & Main during the first quarter worth approximately $1,119,000. HB Wealth Management LLC bought a new position in shares of Core & Main in the first quarter valued at approximately $227,000. Mackenzie Financial Corp boosted its holdings in shares of Core & Main by 39.6% in the 1st quarter. Mackenzie Financial Corp now owns 626,340 shares of the company’s stock worth $30,258,000 after acquiring an additional 177,538 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Core & Main by 6.3% in the 1st quarter. Natixis Advisors LLC now owns 55,938 shares of the company’s stock worth $2,703,000 after acquiring an additional 3,316 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analyst Ratings Changes

CNM has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on Core & Main from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. UBS Group assumed coverage on Core & Main in a research note on Monday, September 29th. They issued a “buy” rating and a $65.00 price objective on the stock. 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 note on Thursday, September 11th. Royal Bank Of Canada cut their price target on Core & Main from $67.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, September 10th. Finally, Citigroup reduced their price target on shares of Core & Main from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 10th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.64.

Core & Main Stock Up 2.1%

Shares of CNM opened at $48.04 on Thursday. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.84 and a beta of 0.98. Core & Main, Inc. has a 52 week low of $43.17 and a 52 week high of $67.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.30 and a current ratio of 2.25. The business’s fifty day moving average price is $50.69 and its two-hundred day moving average price is $56.60.

Core & Main (NYSE:CNM) last issued 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 business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.12 billion. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Core & Main has set its FY 2025 guidance at EPS. On average, analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

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.