Assenagon sells 74.6 percent of Core & Main stock holdings

Published on 10/25/2026 at 03:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Wall Street Zen upgraded Core & Main from hold to buy on October 18, 2026. The consensus target for Core & Main stock is USD 54.40, with a Hold rating.

Ownership and operating signals

Assenagon sold 271,359 shares on October 20, 2026, cutting its stake by 74.6 percent.
Fiscal second-quarter revenue rose 2.5 percent to USD 2.15 billion on August 2, 2026.
Core & Main had a USD 7.99 billion market capitalization on October 23, 2026.

CNM, US21874C1027, Illustration mit AI erstellt.

Core & Main (ISIN US21874C1027) is facing a fresh ownership signal after Assenagon Asset Management cut its stake by 74.6 percent on October 20, 2026, selling 271,359 shares and retaining 92,522 shares. MarketBeat reported the filing and said the remaining position was valued at USD 3.84 million.

Institutional ownership stays high

The filing puts one large reduction against a broader institutional base. Institutions and hedge funds owned 94.19 percent of Core & Main stock, while the company serves municipal, contractor and infrastructure customers across the United States.

The latest reported quarter offered a counterweight to the ownership change. Core & Main generated USD 2.15 billion in fiscal second-quarter revenue ended August 2, 2026, up 2.5 percent from the comparable period, while diluted earnings per share reached USD 0.94, up from USD 0.87 a year earlier. MarketBeat said the quarter exceeded the USD 0.91 earnings-per-share consensus by USD 0.03.

What does the rating split show?

The analyst picture remains mixed rather than one-sided. MarketBeat reported that Wall Street Zen upgraded Core & Main from Hold to Buy on October 18, 2026. The same report listed seven Buy ratings, five Hold ratings and one Sell rating, producing a Hold consensus and a USD 54.40 average target.

Three dated signals for CNM

On September 9, 2026, Core & Main reported fiscal second-quarter diluted earnings per share of USD 0.94 against a USD 0.91 consensus, according to MarketBeat. On October 18, 2026, Wall Street Zen moved its rating from Hold to Buy, as MarketBeat reported. On October 20, 2026, Assenagon disclosed the 74.6 percent stake reduction in a filing covered by Core & Main.

Next corporate date

Core & Main's fiscal year ends on January 31, 2027, according to the company calendar shown by MarketBeat.

Market value and business scale

Core & Main had a USD 7.99 billion market capitalization on October 23, 2026. Its 52-week range was USD 39.42 to USD 59.66, while the company describes its business as a distributor of water, wastewater, storm drainage and fire protection products. The company website also lists more than 370 branch locations and more than 60,000 customers as of fiscal year 2025.