Core & Main (NYSE:CNM) Releases Quarterly Earnings Results, Meets Estimates

Core & Main (NYSE:CNM) released its quarterly earnings results on Tuesday. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52, RTT News reports. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the firm earned $0.49 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Core & Main updated its FY 2025 guidance to EPS.

Core & Main Stock Performance

Shares of NYSE CNM opened at $57.46 on Thursday. Core & Main has a 1 year low of $37.22 and a 1 year high of $60.38. The firm has a market cap of $11.37 billion, a P/E ratio of 26.98, a PEG ratio of 2.61 and a beta of 1.02. The stock has a fifty day moving average price of $52.49 and a two-hundred day moving average price of $51.88. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CNM. JPMorgan Chase & Co. lifted their price objective on shares of Core & Main from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, May 27th. Wells Fargo & Company lifted their price target on Core & Main from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday. Citigroup reissued a “neutral” rating on shares of Core & Main in a report on Tuesday. Robert W. Baird lowered their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 26th. Finally, Royal Bank of Canada boosted their price target on Core & Main from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.00.

Insider Transactions at Core & Main

In related news, insider Laura K. Schneider sold 45,695 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the completion of the sale, the insider now directly owns 12,873 shares in the company, valued at approximately $724,106.25. This trade represents a 78.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Mark G. Whittenburg sold 49,100 shares of Core & Main stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $60.03, for a total transaction of $2,947,473.00. Following the completion of the transaction, the general counsel now owns 9,691 shares in the company, valued at approximately $581,750.73. This trade represents a 83.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,666 shares of company stock valued at $8,770,352. Corporate insiders own 3.53% of the company’s stock.

Institutional Investors Weigh In On Core & Main

Several large investors have recently modified their holdings of CNM. Goldman Sachs Group Inc. raised its position in shares of Core & Main by 23.1% during the first quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company’s stock worth $14,106,000 after purchasing an additional 54,854 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Core & Main by 36.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,576 shares of the company’s stock worth $1,719,000 after buying an additional 9,534 shares during the period. AQR Capital Management LLC purchased a new stake in Core & Main during the first quarter valued at about $396,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after buying an additional 524 shares during the period. 94.19% of the stock is owned by institutional investors.

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.