Core & Main, Inc. $CNM Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its position in Core & Main, Inc. (NYSE:CNM) by 109.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 215,273 shares of the company’s stock after buying an additional 112,444 shares during the quarter. Squarepoint Ops LLC owned approximately 0.11% of Core & Main worth $10,387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System lifted its stake in Core & Main by 22.3% during the first quarter. California State Teachers Retirement System now owns 219,934 shares of the company’s stock worth $10,865,000 after purchasing an additional 40,050 shares during the last quarter. KBC Group NV boosted its holdings in Core & Main by 4.5% in the first quarter. KBC Group NV now owns 2,737,992 shares of the company’s stock worth $135,257,000 after purchasing an additional 119,076 shares during the period. WINTON GROUP Ltd increased its stake in Core & Main by 177.4% during the fourth quarter. WINTON GROUP Ltd now owns 33,015 shares of the company’s stock valued at $1,716,000 after purchasing an additional 21,113 shares during the last quarter. Fox Hill Wealth Management bought a new stake in Core & Main during the fourth quarter valued at $2,798,000. Finally, Bessemer Group Inc. raised its holdings in shares of Core & Main by 2.8% during the first quarter. Bessemer Group Inc. now owns 2,663,161 shares of the company’s stock worth $131,561,000 after purchasing an additional 72,712 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

More Core & Main News

Here are the key news stories impacting Core & Main this week:

• Positive Sentiment: Core & Main reported fiscal second-quarter adjusted earnings of $0.94 per share, ahead of the roughly $0.91–$0.93 consensus, while revenue of $2.15 billion increased 2.5% year over year and slightly exceeded estimates. Core & Main Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management reaffirmed its fiscal 2026 outlook, including revenue of $7.8 billion to $7.9 billion, above the approximately $7.7 billion analyst consensus. Growth was supported by fire-protection products and acquisitions. Core & Main Reaffirms FY26 Outlook
• Neutral Sentiment: Brokerage sentiment remains generally constructive, with Core & Main receiving a consensus rating of “Moderate Buy.” Robert W. Baird kept an “outperform” rating but lowered its price target from $66 to $57, still implying substantial potential upside from recent levels. Core & Main Given Consensus Rating of Moderate Buy
• Negative Sentiment: Truist cut its price target from $50 to $45 and maintained a “hold” rating, signaling more limited near-term conviction despite the target remaining above the recent share price. Truist Cuts Price Target on Core & Main
• Negative Sentiment: Investors are concerned that growth in smart utilities and storm drainage remains tepid, prompting analysts to reduce forecasts after the earnings report. The stock subsequently reached a two-year low as markets weighed subdued organic growth against the earnings beat. Core & Main Slides to Two-Year Low on Organic Growth Concerns

Insiders Place Their Bets

In other news, Director James Hope acquired 2,067 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were purchased at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the transaction, the director directly owned 11,805 shares in the company, valued at $543,148.05. This trade represents a 21.23% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.51% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on CNM. Truist Financial reduced their price target on shares of Core & Main from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Thursday. Citigroup lowered their price objective on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. Barclays dropped their price objective on shares of Core & Main from $62.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday. Royal Bank Of Canada cut their target price on shares of Core & Main from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $53.00 target price on shares of Core & Main in a research note on Thursday. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.60.

Core & Main Price Performance

Shares of NYSE CNM opened at $40.71 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.47 and a quick ratio of 1.31. The firm has a market capitalization of $7.88 billion, a PE ratio of 16.75, a P/E/G ratio of 1.43 and a beta of 0.91. Core & Main, Inc. has a 1-year low of $40.41 and a 1-year high of $59.66. The business’s fifty day moving average price is $44.57 and its two-hundred day moving average price is $47.88.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.03. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.14 billion. Core & Main had a net margin of 5.96% and a return on equity of 25.98%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 earnings per share. On average, research analysts expect that Core & Main, Inc. will post 3.08 EPS for the current year.

Core & Main Company Profile

Core & Main, Inc (NYSE: CNM) is a specialized distributor of water, wastewater, storm drainage and fire protection products in the United States. The company supplies infrastructure materials used in the construction, maintenance and repair of public and private utility systems.

Its product offerings include ductile iron and PVC pipe, valves, hydrants, water meters, storm drainage systems, pipe fittings, fire protection equipment and related products. Core & Main also provides services such as product sourcing, technical support, fabrication, field assistance and inventory management to help customers complete infrastructure projects.

Core & Main serves municipalities, utility contractors, water and wastewater authorities, private water companies, civil and site-development contractors, and other industrial customers through a nationwide distribution network.