VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Holdings in Core & Main, Inc. $CNM

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Core & Main, Inc. (NYSE:CNM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 92,450 shares of the company’s stock, valued at approximately $4,461,000.

Other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG raised its stake in shares of Core & Main by 1.1% in the 4th quarter. Deutsche Bank AG now owns 17,859 shares of the company’s stock valued at $928,000 after buying an additional 190 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of Core & Main by 4.8% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,726 shares of the company’s stock valued at $283,000 after acquiring an additional 261 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 269 shares during the period. State of Michigan Retirement System raised its position in Core & Main by 0.7% in the first quarter. State of Michigan Retirement System now owns 45,400 shares of the company’s stock worth $2,243,000 after purchasing an additional 300 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its stake in Core & Main by 47.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 961 shares of the company’s stock worth $52,000 after purchasing an additional 311 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Buying and Selling

In related news, Director James Hope acquired 2,067 shares of the stock in a transaction on Monday, July 6th. The stock was purchased at an average price of $46.01 per share, for a total transaction of $95,102.67. Following the transaction, the director owned 11,805 shares of the company’s stock, valued at $543,148.05. The trade was a 21.23% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.51% of the stock is currently owned by corporate insiders.

Core & Main Trading Down 5.5%

Shares of CNM opened at $41.65 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 2.31. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.52 and a beta of 0.91. The stock has a fifty day moving average price of $44.65 and a two-hundred day moving average price of $47.99. Core & Main, Inc. has a 52-week low of $41.25 and a 52-week high of $59.66.

Core & Main (NYSE:CNM) last announced its earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. Core & Main had a return on equity of 26.17% and a net margin of 5.87%.The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the company posted $0.87 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts predict that Core & Main, Inc. will post 3.08 EPS for the current fiscal year.

Core & Main News Roundup

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

• Positive Sentiment: Core & Main reported fiscal Q2 adjusted earnings of $0.94 per share on $2.15 billion in revenue, exceeding analyst estimates of $0.92 and $2.14 billion, respectively. EPS increased from $0.87 a year earlier, while revenue grew 2.5% year over year. Core & Main quarterly earnings report
• Positive Sentiment: Management reaffirmed its fiscal 2026 revenue outlook of $7.8 billion to $7.9 billion, above the roughly $7.7 billion consensus estimate. Growth was supported by fire protection products and acquisitions, and one analyst upgraded the stock to a soft buy after the selloff, citing an improved valuation. Core & Main valuation upgrade
• Neutral Sentiment: Core & Main highlighted strategic expansion and potential mergers and acquisitions as longer-term growth drivers. However, investors are weighing those opportunities against near-term execution and demand trends across the business. Core & Main Q2 earnings call
• Negative Sentiment: The primary pressure on CNM is concern over weak organic growth. Smart utility and storm-drainage businesses reportedly faced short-term headwinds and tepid performance, raising questions about whether acquisitions are masking slower underlying demand. Core & Main organic growth concerns

Analysts Set New Price Targets

CNM has been the topic of several analyst reports. William Blair began coverage on Core & Main in a research note on Thursday, July 23rd. They issued a “market perform” rating on the stock. Wall Street Zen cut Core & Main from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Northcoast Research lowered Core & Main from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 26th. Citigroup cut their price objective on Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $24.00 target price on shares of Core & Main in a report on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.70.

Core & Main Company Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.