Core & Main, Inc. (NYSE:CNM) General Counsel Sells $2,895,500.00 in Stock

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 50,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $57.91, for a total transaction of $2,895,500.00. Following the completion of the transaction, the general counsel now owns 12,933 shares in the company, valued at $748,950.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Core & Main Stock Up 0.8 %

CNM stock opened at $57.23 on Friday. The stock has a market capitalization of $12.37 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 1.85 and a beta of 1.11. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. Core & Main, Inc. has a 12 month low of $21.75 and a 12 month high of $58.26. The firm has a 50-day moving average price of $47.09 and a 200-day moving average price of $38.60.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. As a group, equities research analysts anticipate that Core & Main, Inc. will post 2.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CNM has been the topic of several research reports. Truist Financial restated a “hold” rating and issued a $38.00 price target on shares of Core & Main in a research note on Wednesday, March 20th. JPMorgan Chase & Co. upped their price target on shares of Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Citigroup upped their price target on shares of Core & Main from $48.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. The Goldman Sachs Group upped their price target on shares of Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Barclays upped their price objective on shares of Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Core & Main by 41.4% in the 4th quarter. Vanguard Group Inc. now owns 13,417,484 shares of the company’s stock valued at $542,201,000 after buying an additional 3,926,588 shares during the last quarter. FMR LLC raised its holdings in Core & Main by 51.1% in the 3rd quarter. FMR LLC now owns 7,865,719 shares of the company’s stock valued at $226,926,000 after buying an additional 2,660,097 shares during the last quarter. Norges Bank bought a new position in Core & Main in the 4th quarter valued at approximately $108,023,000. Amundi raised its holdings in Core & Main by 34.2% in the 4th quarter. Amundi now owns 4,675,562 shares of the company’s stock valued at $91,317,000 after buying an additional 1,192,629 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Core & Main by 23.0% in the 3rd quarter. Morgan Stanley now owns 4,219,363 shares of the company’s stock valued at $121,729,000 after buying an additional 788,801 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

About Core & Main

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 sets, meter accessories, installation, software, and other services.