Core & Main, Inc. (NYSE:CNM) General Counsel Sells $2,704,000.00 in Stock

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $54.08, for a total transaction of $2,704,000.00. Following the transaction, the general counsel now directly owns 12,933 shares of the company’s stock, valued at $699,416.64. The sale was disclosed in a document filed with the SEC, which is available through this link.

Core & Main Stock Up 1.1 %

Shares of CNM opened at $56.76 on Friday. The firm has a market cap of $11.43 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 1.73 and a beta of 1.15. The company’s fifty day moving average is $52.89 and its two-hundred day moving average is $42.44. Core & Main, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $60.83. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22.

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. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. Core & Main’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business earned $0.31 EPS. 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 hedge funds have recently made changes to their positions in CNM. Rise Advisors LLC purchased a new position in shares of Core & Main in the 1st quarter valued at $27,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Core & Main in the 3rd quarter valued at $28,000. Quadrant Capital Group LLC raised its stake in shares of Core & Main by 74.5% in the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after acquiring an additional 365 shares during the period. Kepos Capital LP purchased a new position in shares of Core & Main in the 3rd quarter valued at $41,000. Finally, GAMMA Investing LLC purchased a new position in shares of Core & Main in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analyst Ratings Changes

CNM has been the subject of a number of recent research reports. Truist Financial reissued a “hold” rating and set a $38.00 price objective on shares of Core & Main in a research note on Wednesday, March 20th. Royal Bank of Canada raised their price objective on shares of Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. raised their target price on shares of Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. The Goldman Sachs Group raised their target price on shares of Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Finally, Citigroup lowered shares of Core & Main from a “buy” rating to a “neutral” rating and raised their target price for the stock from $63.00 to $64.00 in a research report on Friday, April 5th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average 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.