Insider Selling: Core & Main, Inc. (NYSE:CNM) CAO Sells 5,503 Shares of Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 5,503 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $54.23, for a total value of $298,427.69. Following the transaction, the chief accounting officer now directly owns 4,281 shares of the company’s stock, valued at $232,158.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 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 Performance

Shares of NYSE CNM traded up $1.36 during midday trading on Tuesday, reaching $55.97. The company’s stock had a trading volume of 1,089,500 shares, compared to its average volume of 2,877,377. Core & Main, Inc. has a 12-month low of $25.16 and a 12-month high of $60.83. The firm has a 50 day moving average price of $52.15 and a 200-day moving average price of $42.06. The stock has a market capitalization of $11.27 billion, a P/E ratio of 26.03, a PEG ratio of 1.68 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30.

Core & Main (NYSE:CNM) last announced its 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 firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS. As a group, equities analysts predict that Core & Main, Inc. will post 2.59 earnings per share for the current year.

Institutional Investors Weigh In On Core & Main

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Core & Main by 41.4% in the 4th quarter. Vanguard Group Inc. now owns 13,417,484 shares of the company’s stock worth $542,201,000 after purchasing an additional 3,926,588 shares during the period. FMR LLC raised its holdings in Core & Main by 51.1% during the 3rd quarter. FMR LLC now owns 7,865,719 shares of the company’s stock valued at $226,926,000 after acquiring an additional 2,660,097 shares during the period. Robeco Schweiz AG raised its holdings in Core & Main by 7.6% during the 3rd quarter. Robeco Schweiz AG now owns 2,925,109 shares of the company’s stock valued at $84,389,000 after acquiring an additional 206,509 shares during the period. Handelsbanken Fonder AB raised its holdings in Core & Main by 180.1% during the 4th quarter. Handelsbanken Fonder AB now owns 2,707,385 shares of the company’s stock valued at $109,405,000 after acquiring an additional 1,740,685 shares during the period. Finally, Artemis Investment Management LLP raised its holdings in Core & Main by 148.0% during the 1st quarter. Artemis Investment Management LLP now owns 2,650,209 shares of the company’s stock valued at $151,655,000 after acquiring an additional 1,581,389 shares during the period. Institutional investors own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CNM shares. Royal Bank of Canada raised their target price on Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Citigroup downgraded Core & Main from a “buy” rating to a “neutral” rating and raised their target price for the company from $63.00 to $64.00 in a research note on Friday, April 5th. The Goldman Sachs Group raised their target price on Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Loop Capital lifted their price target on Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, Truist Financial reiterated a “hold” rating and set a $38.00 price target on shares of Core & Main in a research note on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and an average price target of $50.08.

About Core & Main

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.