Mark G. Whittenburg Sells 900 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 900 shares of Core & Main stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $60.03, for a total transaction of $54,027.00. Following the completion of the sale, the general counsel now directly owns 9,691 shares in the company, valued at approximately $581,750.73. The trade was a 8.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Core & Main Stock Performance

Shares of CNM opened at $57.46 on Thursday. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The stock has a market cap of $11.37 billion, a P/E ratio of 26.98, a PEG ratio of 2.61 and a beta of 1.02. The company has a 50-day moving average of $52.49 and a two-hundred day moving average of $51.88. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $60.38.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. As a group, research analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CNM has been the topic of several analyst reports. Citigroup reaffirmed a “neutral” rating on shares of Core & Main in a report on Tuesday. Robert W. Baird lowered their target price on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. boosted their price objective on shares of Core & Main from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. Wells Fargo & Company boosted their price objective on shares of Core & Main from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Core & Main in a report on Tuesday, April 1st. They set a “buy” rating and a $60.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.00.

Hedge Funds Weigh In On Core & Main

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNM. Raymond James Financial Inc. acquired a new position in Core & Main during the fourth quarter worth about $115,555,000. Norges Bank acquired a new position in shares of Core & Main in the fourth quarter valued at approximately $99,734,000. Impax Asset Management Group plc raised its position in shares of Core & Main by 70.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock valued at $174,661,000 after buying an additional 1,416,907 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Core & Main in the first quarter valued at approximately $54,742,000. Finally, Federated Hermes Inc. raised its position in shares of Core & Main by 4,757.9% in the fourth quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company’s stock valued at $57,953,000 after buying an additional 1,114,913 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

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.