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 firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $55.19, for a total transaction of $524,139.43. Following the sale, the chief accounting officer now directly owns 4,281 shares of the company’s stock, valued at approximately $236,268.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction 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 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 transaction 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 transaction of $55,022.00.

Core & Main Price Performance

Shares of Core & Main stock opened at $57.31 on Friday. 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 company’s 50-day moving average price is $53.15 and its two-hundred day moving average price is $42.63. Core & Main, Inc. has a 52 week low of $25.18 and a 52 week high of $60.83. The stock has a market cap of $11.54 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 1.74 and a beta of 1.15.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the business earned $0.31 earnings per share. Core & Main’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Core & Main, Inc. will post 2.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CNM has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on shares of Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Citigroup downgraded shares of Core & Main from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $63.00 to $64.00 in a report on Friday, April 5th. Barclays boosted their price target on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Royal Bank of Canada boosted their price target on shares of Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, Loop Capital boosted their price target on shares of Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Core & Main has an average rating of “Moderate Buy” and a consensus target price of $50.08.

Institutional Investors Weigh In On Core & Main

Several hedge funds and other institutional investors have recently bought and sold shares of CNM. National Bank of Canada FI raised its position in Core & Main by 57.0% in the third quarter. National Bank of Canada FI now owns 12,001 shares of the company’s stock worth $342,000 after acquiring an additional 4,357 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in Core & Main by 17.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 18,419 shares of the company’s stock worth $531,000 after buying an additional 2,716 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in Core & Main during the 3rd quarter worth about $265,000. Oak Thistle LLC raised its holdings in Core & Main by 13.8% during the 3rd quarter. Oak Thistle LLC now owns 19,540 shares of the company’s stock worth $564,000 after buying an additional 2,377 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in Core & Main by 5,688.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 966,700 shares of the company’s stock worth $27,889,000 after buying an additional 950,000 shares during the period. 94.19% of the stock is currently owned by institutional investors.

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.