VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 92,450 Core & Main, Inc. $CNM

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Core & Main, Inc. (NYSE:CNM) in the 2nd quarter, Holdings Channel.com reports. The fund bought 92,450 shares of the company’s stock, valued at approximately $4,461,000.

Other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings 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 last quarter. Cubist Systematic Strategies LLC lifted its position in Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after purchasing an additional 524 shares during the period. Quarry LP acquired a new position in Core & Main during the 4th quarter valued at about $38,000. Los Angeles Capital Management LLC bought a new position in shares of Core & Main in the 4th quarter valued at about $44,000. Finally, Root Financial Partners LLC boosted its stake in shares of Core & Main by 111.6% in the 1st quarter. Root Financial Partners LLC now owns 895 shares of the company’s stock valued at $44,000 after purchasing an additional 472 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Buying and Selling at Core & Main

In other news, Director James Hope acquired 2,067 shares of Core & Main stock in a transaction dated Monday, July 6th. The stock was bought at an average cost of $46.01 per share, with a total value of $95,102.67. Following the completion of the transaction, the director directly owned 11,805 shares of the company’s stock, valued at approximately $543,148.05. This represents a 21.23% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is owned by corporate insiders.

Core & Main Trading Down 5.5%

Shares of NYSE:CNM opened at $41.65 on Thursday. The firm 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. Core & Main, Inc. has a 12 month low of $41.25 and a 12 month high of $59.66. The company’s fifty day simple moving average is $44.65 and its 200 day simple moving average is $47.99. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00.

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

Key Headlines Impacting Core & Main

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CNM shares. Northcoast Research cut shares of Core & Main from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 26th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $24.00 target price on shares of Core & Main in a report on Thursday, June 11th. William Blair initiated 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 note on Saturday, August 8th. Finally, Citigroup dropped 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. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.70.

About Core & Main

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.