John R. Schaller Sells 9,794 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) EVP John R. Schaller sold 9,794 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $55.00, for a total value of $538,670.00. Following the completion of the transaction, the executive vice president now directly owns 19,689 shares in the company, valued at approximately $1,082,895. This represents a 33.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Core & Main Price Performance

Shares of CNM stock opened at $54.80 on Friday. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $58.29. The company has a market cap of $10.84 billion, a P/E ratio of 25.73, a P/E/G ratio of 2.61 and a beta of 1.04. The business has a fifty day simple moving average of $50.97 and a 200 day simple moving average of $51.15.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm 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%. Core & Main’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 earnings per share. On average, sell-side analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CNM shares. Robert W. Baird cut their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, March 26th. Royal Bank of Canada cut their target price on Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, March 26th. Wells Fargo & Company upped their price objective on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. upped their price objective on Core & Main from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research report on Tuesday, April 1st. They set a “buy” rating and a $60.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Core & Main presently has a consensus rating of “Moderate Buy” and an average target price of $57.91.

Hedge Funds Weigh In On Core & Main

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Core & Main by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock valued at $927,580,000 after purchasing an additional 221,970 shares during the last quarter. FMR LLC raised its position in Core & Main by 4.1% in the fourth quarter. FMR LLC now owns 9,055,993 shares of the company’s stock valued at $461,041,000 after purchasing an additional 358,909 shares during the last quarter. Invesco Ltd. raised its position in Core & Main by 0.8% in the fourth quarter. Invesco Ltd. now owns 5,926,569 shares of the company’s stock valued at $301,722,000 after purchasing an additional 44,513 shares during the last quarter. Bessemer Group Inc. raised its position in Core & Main by 0.5% in the fourth quarter. Bessemer Group Inc. now owns 3,835,182 shares of the company’s stock valued at $195,250,000 after purchasing an additional 20,756 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its position in Core & Main by 1.3% in the fourth quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company’s stock valued at $194,005,000 after purchasing an additional 48,833 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

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.