Insider Selling: Core & Main, Inc. (NYSE:CNM) CAO Sells 9,497 Shares of Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 9,497 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $55.19, for a total value of $524,139.43. Following the completion of the transaction, the chief accounting officer now owns 4,281 shares in the company, valued at approximately $236,268.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, April 19th, John Weldon Stephens sold 5,503 shares of Core & Main stock. The stock was sold at an average price of $54.23, for a total value of $298,427.69.
• On Friday, March 22nd, John Weldon Stephens sold 15,000 shares of Core & Main stock. The stock was sold at an average price of $57.91, for a total value of $868,650.00.
• On Thursday, March 7th, John Weldon Stephens sold 43,900 shares of Core & Main stock. The shares were 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 shares were sold at an average price of $50.02, for a total value of $55,022.00.

Core & Main Stock Up 0.3 %

Shares of Core & Main stock opened at $56.16 on Thursday. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. The business’s 50 day simple moving average is $52.65 and its 200-day simple moving average is $42.34. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of 26.12, a PEG 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.

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

Hedge Funds Weigh In On Core & Main

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNM. Rise Advisors LLC bought a new position in Core & Main in the 1st quarter worth approximately $27,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in Core & Main in the 3rd quarter worth approximately $28,000. Quadrant Capital Group LLC grew its holdings in Core & Main by 74.5% in the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after buying an additional 365 shares in the last quarter. Kepos Capital LP bought a new position in Core & Main in the 3rd quarter worth approximately $41,000. Finally, GAMMA Investing LLC bought a new position in Core & Main in the 4th quarter worth approximately $41,000. 94.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Royal Bank of Canada upped their price objective on Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Loop Capital upped their price objective on Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group upped their price objective on Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Truist Financial restated a “hold” rating and set a $38.00 price objective on shares of Core & Main in a research note on Wednesday, March 20th. Finally, JPMorgan Chase & Co. upped their price objective on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average 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.