Bailard Inc., an investment management firm, recently acquired a new stake in Core & Main, Inc. during the second quarter of this year. According to a disclosure with the Securities and Exchange Commission (SEC), Bailard purchased 7,400 shares of Core & Main’s stock valued at approximately $232,000. This investment underscores Bailard’s confidence in the potential growth and profitability of Core & Main.
In other news related to Core & Main, President John R. Schaller sold 25,000 shares of the company’s stock on Thursday, July 13th at an average price of $31.96 per share. The total transaction amounted to $799,000. Following this sale, President Schaller now directly owns 15,903 shares in the company which are valued at $508,259.88. This transaction was disclosed in a document filed with the Securities and Exchange Commission (SEC), which can be accessed through a provided link.
Furthermore, Chief Financial Officer Mark R. Witkowski also sold 40,000 shares of Core & Main stock on Monday, September 25th at an average price of $28.44 per share. The total value of this transaction reached $1,137,600. As a result of this sale, Witkowski now holds 19,221 shares in the company valued at $546,645.24.
These recent insider sales highlight important developments within Core & Main’s leadership team and may indicate various strategic considerations or personal financial decisions among its executives.
It is also noteworthy that over the past ninety days leading up to October 5th, insiders have collectively sold 21,203,228 shares of Core & Main’s stock worth an estimated $615,148,344. These transactions suggest a significant shift in ownership hierarchy within the company as insiders divest themselves of their holdings.
Core & Main is a well-established company operating in the industry sector(s) [insert industry sector information]. The company has a strong reputation and maintains a prominent position within its market. To stay informed about the latest developments regarding Core & Main, interested parties can refer to the provided link which leads to the disclosure document filed with the Securities and Exchange Commission.
Please note that all information provided in this article is based on data as of October 5, 2023. Readers are advised to consult up-to-date sources for the most accurate and current information on Core & Main, Inc.
Institutional Investors Show Interest in Core & Main Amid Positive Analyst Outlook
Recent financial activity surrounding Core & Main, Inc. has caught the attention of several institutional investors. SG Americas Securities LLC, for example, increased its stake in the company by 2.2% in the first quarter, acquiring an additional 403 shares and bringing its total ownership to 18,713 shares valued at $432,000. Similarly, Captrust Financial Advisors boosted its holding by 3.8% during the second quarter, purchasing an additional 703 shares and now owning a total of 19,074 shares worth $425,000.
Alliancebernstein L.P. took part in this trend as well, growing its position by 3.5% during the third quarter through the acquisition of an extra 795 shares. In another case, Price T Rowe Associates Inc. MD increased its stake in Core & Main by 6.7% during the first quarter by adding 876 shares to their portfolio worth $323,000.
Furthermore, California State Teachers Retirement System enlarged its position by 1.0% during the same period with the purchase of an additional 905 shares, resulting in a total holding of 87,982 shares worth $2,032,000.
Highlighting institutional interest in Core & Main stock is crucial because it sheds light on investor confidence and trust in the company’s future performance. At present, approximately 94.19% of Core & Main’s stock is owned by institutional investors and hedge funds.
Equity analysts have also shared their outlook on Core & Main’s prospects. Deutsche Bank Aktiengesellschaft recently increased their price target on the company’s stock from $42 to $44 per share following a research report issued on June 12th.
Additionally, Northcoast Research initiated coverage on Core & Main with a “buy” rating and a price objective of $40 per share on June 13th.
This positive sentiment was further bolstered when TheStreet upgraded Core & Main’s stock from a “c” rating to a “b-” rating on July 24th. Investopedia.com explains that each of these ratings indicates a progressively positive opinion of the stock’s investment value.
Moreover, The Goldman Sachs Group revised their target price for Core & Main from $33 to $34 per share in a research note published on September 7th. Royal Bank of Canada followed suit and also raised the target price for the company’s stock to $34, reiterating an “outperform” rating.
Analysts’ opinions seem to align overall, as Bloomberg.com reports that Core & Main has obtained a consensus rating of “Moderate Buy.” Moreover, analysts have established a consensus price target of $36.20 for the stock based on this information.
Traded on the New York Stock Exchange under the symbol NYSE:CNM, shares of Core & Main opened at $30.14 on October 5th. With a quick ratio of 1.53 and a current ratio of 2.59, the company exhibits favorable liquidity ratios.
Core & Main has experienced both highs and lows in its stock price over the past year. Its 52-week low was recorded at $18.75 while its high reached $33.32. The 50-day simple moving average sits at $30.70, and its 200-day simple moving average at $28.33.
The corporation currently possesses a market capitalization of $6.82 billion with a price-to-earnings (P/E) ratio of 14.22 and a P/E/growth (PEG) ratio of 1.84 – indicating potential growth opportunities relative to its current valuation given future earnings predictions.
As for financial performance, Core & Main reported earnings per share (EPS) of $0.66 for the most recent quarter ending September 6th, falling just short of the consensus estimate of $0.67 by ($0.01). Despite this slight miss, the company maintained a respectable net margin of 5.45% and a return on equity of 15.75%.
In terms of revenue, Core & Main generated $1.86 billion during the quarter, which aligned with analysts’ expectations. It is worth noting that this figure represented a steady growth compared to the previous year, albeit an increase of only 0%.
Looking ahead, equities research analysts collectively predict that Core & Main will post earnings per share of $1.87 for the current fiscal year.
Overall, investors and analysts alike continue to scrutinize Core & Main’s financial updates and market performance for insights into its future potential in the industry. With institutional investors demonstrating their confidence through increased positions and analysts rating the stock with favorable reviews, it remains an intriguing prospect for those observing the market closely.