The Vanguard Group, Inc. recently announced the acquisition of new stake in Core & Main Inc (NYSE:CNM). The institutional investor has increased its shareholding in the Industrials company by 14.05% to 9.34 million shares with purchase of 1.15 million shares. This fresh investment now brings its stake to 5.02% valued currently at $377.31 million. In addition, Fidelity Management & Research Co raised its holdings by 2.29 million to 6.45 million shares.
Currently, there are 172.77M common shares owned by the public and among those 170.13M shares have been available to trade.
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Insiders at the company have transacted a total of 131 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 54 of these insider trades were purchases, accounting for 22,987,403 shares. Insider sales of the common stock occurred on 77 occasions, with total insider shares sold totaling 78,509,382 shares.
The top 3 mutual fund holders in Core & Main Inc are Government Pension Fund – Global, Vanguard Total Stock Market ETF, and iShares Core S&P Mid Cap ETF. Government Pension Fund – Global owns 5.59 million shares of the company’s stock, all valued at over $226.06 million. The company bought an additional 2.79 million shares recently to bring their total holdings to about 3.01% of the shares outstanding. Vanguard Total Stock Market ETF bought 0.49 million shares to see its total holdings expand to 4.56 million shares valued at over $184.13 million and representing 2.45% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 3755.0 shares to bring its total holdings to over 4.15 million shares at a value of $167.77 million. iShares Core S&P Mid Cap ETF now owns shares totaling to 2.28% of the shares outstanding.
The company’s stock has a 5-day price change of 1.29% and 39.40% over the past three months. CNM shares are trading 3.32% year to date (YTD), with the 12-month market performance up to 100.05% higher. It has a 12-month low price of $20.30 and touched a high of $41.82 over the same period. CNM has an average intraday trading volume of 3.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.45%, 11.22%, and 33.44% respectively.
Institutional ownership of Core & Main Inc (NYSE: CNM) shares accounts for 69.09% of the company’s 172.77M shares outstanding. Mutual fund holders own 20.55%, while other institutional holders and individual stakeholders account for 51.40% and 17.40% respectively.
It has a market capitalization of $7.76B and a beta (3y monthly) value of 1.07. The stock’s trailing 12-month PE ratio is 19.79, while the earnings-per-share (ttm) stands at $2.11. The company has a PEG of 1.72 and a Quick Ratio of 1.46 with the debt-to-equity ratio at 0.92. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.95% over the week and 1.85% over the month.
Analysts forecast that Core & Main Inc (CNM) will achieve an EPS of $0.36 for the current quarter, $0.53 for the next quarter and $2.5 for 2025. The lowest estimate earnings-per-share for the quarter is $0.33 while analysts give the company a high EPS estimate of $0.42. Comparatively, EPS for the current quarter was $0.35 a year ago. Earnings per share for the fiscal year are expected to increase by 3.52%, and 9.03% over the next financial year. EPS should shrink at an annualized rate of 11.53% over the next five years, compared to 74.76% over the past 5-year period.
Looking at the support for the CNM, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on January 08, 2024, with the firm’s price target at $38-$48.
