Foster & Motley Inc. Sells 281 Shares of Core & Main, Inc. $CNM

Foster & Motley Inc. cut its stake in Core & Main, Inc. (NYSE:CNM) by 0.7% in the second quarter, according to the company in its most recent 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 period. Foster & Motley Inc.’s holdings in Core & Main were worth $2,472,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bfsg LLC boosted its holdings in Core & Main by 56.4% in the 2nd quarter. Bfsg LLC now owns 560 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the period. Rossby Financial LCC bought a new position in shares of Core & Main during the 1st quarter worth about $37,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Core & Main by 262.0% during the 1st 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. CWM LLC lifted its holdings in shares of Core & Main by 34.0% during the 1st quarter. CWM LLC now owns 839 shares of the company’s stock worth $41,000 after acquiring an additional 213 shares during the period. Finally, Steph & Co. bought a new position in shares of Core & Main during the 2nd quarter worth about $53,000. 94.19% of the stock is owned by institutional investors.

Insider Transactions 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 transaction of $6,408,000.00. Following the transaction, the chief executive officer directly owned 35,847 shares in the company, valued at approximately $2,297,075.76. This represents a 73.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robyn L. Bradbury sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $64.51, for a total transaction of $322,550.00. Following the transaction, the chief financial officer owned 8,555 shares in the company, valued at $551,883.05. The trade was a 36.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Core & Main from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. The Goldman Sachs Group reduced their price objective on shares of Core & Main from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Royal Bank Of Canada reduced their price objective on shares of Core & Main from $67.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, September 10th. UBS Group assumed coverage on shares of Core & Main in a report on Monday, September 29th. They set a “buy” rating and a $65.00 price objective for the company. Finally, Truist Financial reduced their price objective on shares of Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, September 11th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.64.

Core & Main Trading Up 0.4%

Shares of Core & Main stock opened at $52.17 on Friday. The stock has a market capitalization of $10.30 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 2.05 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 simple moving average of $56.89 and a 200 day simple moving average of $56.54. Core & Main, Inc. has a 12-month low of $41.64 and a 12-month high of $67.18.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The business 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 firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. Core & Main has set its FY 2025 guidance at EPS. Research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal 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.