Core & Main, Inc. (NYSE:CNM) CAO Sells $298,427.69 in Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 5,503 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $54.23, for a total transaction of $298,427.69. Following the completion of the sale, the chief accounting officer now owns 4,281 shares in the company, valued at $232,158.63. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

John Weldon Stephens also recently made the following trade(s):

• On Tuesday, April 23rd, John Weldon Stephens sold 9,497 shares of Core & Main stock. The stock was sold at an average price of $55.19, for a total transaction of $524,139.43.
• On Friday, March 22nd, John Weldon Stephens sold 15,000 shares of Core & Main stock. The shares were sold at an average price of $57.91, for a total transaction of $868,650.00.
• On Thursday, March 7th, John Weldon Stephens sold 43,900 shares of Core & Main stock. The stock was sold at an average price of $50.02, for a total value of $2,195,878.00.
• On Monday, March 4th, John Weldon Stephens sold 1,100 shares of Core & Main stock. The stock was sold at an average price of $50.02, for a total value of $55,022.00.

Core & Main Stock Up 0.3 %

CNM stock opened at $56.16 on Thursday. The company has a market cap of $11.31 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 1.69 and a beta of 1.15. Core & Main, Inc. has a twelve month low of $25.16 and a twelve month high of $60.83. The business has a 50 day moving average price of $52.65 and a two-hundred day moving average price of $42.34. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the business earned $0.31 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. Analysts anticipate that Core & Main, Inc. will post 2.59 EPS for the current fiscal year.

Institutional Trading of Core & Main

A number of hedge funds have recently made changes to their positions in CNM. Rise Advisors LLC bought a new stake in Core & Main in the 1st quarter valued at $27,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Core & Main in the third quarter valued at $28,000. Quadrant Capital Group LLC raised its position in shares of Core & Main by 74.5% in the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares during the period. Kepos Capital LP acquired a new stake in shares of Core & Main during the 3rd quarter worth about $41,000. Finally, GAMMA Investing LLC bought a new stake in shares of Core & Main during the 4th quarter worth about $41,000. 94.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Loop Capital increased their price objective on shares of Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada boosted their price objective on shares of Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group lifted their price target on Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Finally, Citigroup lowered Core & Main from a “buy” rating to a “neutral” rating and boosted their price target for the company from $63.00 to $64.00 in a report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $50.08.

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