Investors Purchase High Volume of Core & Main Call Options (NYSE:CNM)

Core & Main, Inc. (NYSE:CNM) was the target of unusually large options trading activity on Monday. Traders acquired 4,374 call options on the company. This is an increase of 793% compared to the typical daily volume of 490 call options.

Analyst Ratings Changes

Several brokerages have recently weighed in on CNM. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a report on Tuesday, April 1st. They set a “buy” rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of Core & Main from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Robert W. Baird cut their price target on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Finally, Royal Bank of Canada cut their price target on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.91.

Core & Main Stock Down 0.7%

Core & Main stock opened at $59.26 on Tuesday. The company has a 50-day simple moving average of $52.04 and a 200-day simple moving average of $51.80. The firm has a market capitalization of $11.73 billion, a P/E ratio of 27.82, a P/E/G ratio of 2.61 and a beta of 1.02. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main has a one year low of $37.22 and a one year high of $60.38.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. As a group, equities analysts expect that Core & Main will post 2.16 earnings per share for the current year.

Insider Transactions at Core & Main

In other Core & Main news, CAO John Weldon Stephens sold 41,963 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the sale, the chief accounting officer now directly owns 4,120 shares of the company’s stock, valued at $207,977.60. This trade represents a 91.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laura K. Schneider sold 45,695 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the sale, the insider now directly owns 12,873 shares in the company, valued at $724,106.25. This represents a 78.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,666 shares of company stock valued at $5,768,852 in the last ninety days. 3.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Core & Main

Several large investors have recently made changes to their positions in the business. Parallel Advisors LLC lifted its stake in Core & Main by 447.1% during the first quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock valued at $31,000 after buying an additional 532 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after purchasing an additional 524 shares in the last quarter. Rossby Financial LCC bought a new position in Core & Main during the first quarter valued at approximately $37,000. CWM LLC raised its position in Core & Main by 34.0% during the first quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after acquiring an additional 213 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in Core & Main by 1,491.8% during the first quarter. Versant Capital Management Inc now owns 1,162 shares of the company’s stock valued at $56,000 after acquiring an additional 1,089 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.