Core & Main, Inc. (NYSE:CNM) CFO Mark R. Witkowski Sells 40,000 Shares of Stock

Core & Main, Inc. (NYSE:CNM) CFO Mark R. Witkowski sold 40,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $34.01, for a total value of $1,360,400.00. Following the completion of the sale, the chief financial officer now owns 19,221 shares in the company, valued at $653,706.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Core & Main Stock Up 0.7 %

NYSE CNM opened at $33.88 on Friday. The business has a fifty day moving average price of $30.30 and a two-hundred day moving average price of $29.98. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.59 and a quick ratio of 1.53. Core & Main, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $34.22. The stock has a market capitalization of $7.66 billion, a PE ratio of 15.98, a PEG ratio of 2.75 and a beta of 0.95.

Core & Main (NYSE:CNM) last released its earnings results on Wednesday, September 6th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). Core & Main had a return on equity of 15.75% and a net margin of 5.45%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company earned $0.89 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Equities analysts expect that Core & Main, Inc. will post 1.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wolfe Research raised Core & Main from a “peer perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a research report on Thursday, October 12th. Robert W. Baird lifted their target price on Core & Main from $34.00 to $38.00 in a research report on Thursday, September 7th. Credit Suisse Group lifted their target price on Core & Main from $28.00 to $33.00 in a research report on Thursday, September 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $34.00 target price on shares of Core & Main in a research report on Thursday, October 5th. Finally, The Goldman Sachs Group boosted their price target on Core & Main from $33.00 to $34.00 in a research report on Thursday, September 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.55.

Institutional Investors Weigh In On Core & Main

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. bought a new stake in Core & Main during the third quarter worth $2,767,000. Public Employees Retirement System of Ohio increased its holdings in shares of Core & Main by 23.1% during the third quarter. Public Employees Retirement System of Ohio now owns 48,071 shares of the company’s stock worth $1,387,000 after buying an additional 9,017 shares in the last quarter. Morgan Stanley increased its holdings in shares of Core & Main by 23.0% during the third quarter. Morgan Stanley now owns 4,219,363 shares of the company’s stock worth $121,729,000 after buying an additional 788,801 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Core & Main by 8.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 11,029 shares of the company’s stock worth $318,000 after buying an additional 890 shares in the last quarter. Finally, Toroso Investments LLC acquired a new position in shares of Core & Main during the third quarter worth $301,000. 94.19% of the stock is currently owned by institutional investors.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter accessories, installation, software, and other services.