Insider Selling: Core & Main, Inc. (NYSE:CNM) CAO Sells 15,000 Shares of Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $57.91, for a total transaction of $868,650.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,281 shares in the company, valued at $247,912.71. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 transaction 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 transaction of $55,022.00.

Core & Main Stock Up 0.2 %

Shares of CNM stock traded up $0.12 on Tuesday, reaching $57.27. 1,623,027 shares of the stock were exchanged, compared to its average volume of 3,142,017. Core & Main, Inc. has a twelve month low of $21.06 and a twelve month high of $58.26. The company has a market capitalization of $12.38 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 1.88 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. The business’s 50 day moving average price is $46.12 and its 200 day moving average price is $38.14.

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, meeting analysts’ consensus estimates of $0.34. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the company earned $0.31 earnings per share. Core & Main’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts expect that Core & Main, Inc. will post 2.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Core & Main

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Core & Main in the fourth quarter valued at about $108,023,000. Vanguard Group Inc. increased its stake in shares of Core & Main by 41.4% during the fourth quarter. Vanguard Group Inc. now owns 13,417,484 shares of the company’s stock worth $542,201,000 after acquiring an additional 3,926,588 shares during the period. Morgan Stanley increased its stake in shares of Core & Main by 423.6% during the fourth quarter. Morgan Stanley now owns 3,526,994 shares of the company’s stock worth $68,106,000 after acquiring an additional 2,853,438 shares during the period. FMR LLC increased its stake in shares of Core & Main by 51.1% during the third quarter. FMR LLC now owns 7,865,719 shares of the company’s stock worth $226,926,000 after acquiring an additional 2,660,097 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in shares of Core & Main during the fourth quarter worth about $91,771,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on CNM shares. Royal Bank of Canada lifted their price target 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. JPMorgan Chase & Co. lifted their target price on shares of Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Citigroup lifted their target price on shares of Core & Main from $48.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, March 21st. The Goldman Sachs Group lifted their target price on shares of Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Truist Financial reiterated a “hold” rating and issued a $38.00 target price on shares of Core & Main in a report on Wednesday, March 20th. Two analysts have rated the stock with a hold rating and nine have issued 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.

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.