Atria Investments Inc Buys New Stake in Core & Main, Inc. $CNM

Atria Investments Inc purchased a new position in Core & Main, Inc. (NYSE:CNM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,683 shares of the company’s stock, valued at approximately $886,000.

Several other institutional investors have also bought and sold shares of the business. Enhancing Capital LLC grew its stake in shares of Core & Main by 0.6% in the 1st quarter. Enhancing Capital LLC now owns 31,846 shares of the company’s stock worth $1,538,000 after buying an additional 196 shares in the last quarter. Bfsg LLC lifted its holdings in shares of 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 acquiring an additional 202 shares during the last quarter. CWM LLC grew its position in Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company’s stock worth $41,000 after acquiring an additional 213 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Core & Main by 3.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company’s stock worth $343,000 after acquiring an additional 229 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in Core & Main by 2.6% during the first quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company’s stock worth $527,000 after acquiring an additional 272 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

CNM opened at $50.88 on Friday. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.00 and a beta of 0.98. The company has a current ratio of 2.25, a quick ratio of 1.30 and a debt-to-equity ratio of 1.14. Core & Main, Inc. has a 12-month low of $41.64 and a 12-month high of $67.18. The business’s fifty day simple moving average is $53.24 and its 200-day simple moving average is $57.03.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNM. Barclays dropped their target price on Core & Main from $69.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, September 10th. Loop Capital restated a “hold” rating and issued a $68.00 price target on shares of Core & Main in a research report on Monday, July 28th. Truist Financial cut their price objective 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. Royal Bank Of Canada reduced their target price on shares of Core & Main from $67.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 10th. Finally, Zacks Research cut shares of Core & Main from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Core & Main has an average rating of “Moderate Buy” and an average target price of $60.64.

Insider Activity

In other news, CEO Mark R. Witkowski sold 100,000 shares of the 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 trade represents a 73.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.53% of the company’s stock.

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.