Cd&R Investment Associates X, Sells 2,850,000 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) major shareholder Cd&R Investment Associates X, sold 2,850,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $30.44, for a total transaction of $86,754,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Cd&R Investment Associates X, also recently made the following trade(s):

• On Thursday, November 9th, Cd&R Investment Associates X, sold 22,125,728 shares of Core & Main stock. The stock was sold at an average price of $30.44, for a total value of $673,507,160.32.
• On Tuesday, September 19th, Cd&R Investment Associates X, sold 21,125,728 shares of Core & Main stock. The stock was sold at an average price of $29.01, for a total transaction of $612,857,369.28.

Core & Main Price Performance

Shares of Core & Main stock opened at $33.64 on Friday. Core & Main, Inc. has a one year low of $18.75 and a one year high of $34.22. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.53 and a current ratio of 2.59. The stock has a market cap of $7.61 billion, a P/E ratio of 15.87, a P/E/G ratio of 2.59 and a beta of 0.95. The stock’s fifty day moving average is $30.21 and its 200 day moving average is $29.93.

Core & Main (NYSE:CNM) last posted its earnings results on Wednesday, September 6th. The company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.86 billion. Core & Main had a return on equity of 15.75% and a net margin of 5.45%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 earnings per share. Sell-side analysts anticipate that Core & Main, Inc. will post 1.97 earnings per share for the current year.

Wall Street Analyst Weigh In

CNM has been the topic of a number of recent research reports. Loop Capital boosted their target price on Core & Main from $33.00 to $38.00 in a research note on Friday, August 11th. Wolfe Research raised shares of Core & Main from a “peer perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Thursday, October 12th. The Goldman Sachs Group boosted their target price on shares of Core & Main from $33.00 to $34.00 in a research report on Thursday, September 7th. Robert W. Baird raised their price target on shares of Core & Main from $34.00 to $38.00 in a report on Thursday, September 7th. Finally, TheStreet raised shares of Core & Main from a “c” rating to a “b-” rating in a research note on Monday, July 24th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Core & Main currently has a consensus rating of “Moderate Buy” and an average target price of $36.55.

Hedge Funds Weigh In On Core & Main

Institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Core & Main during the third quarter worth $28,000. Penserra Capital Management LLC acquired a new stake in shares of Core & Main during the 2nd quarter worth approximately $31,000. Harbor Investment Advisory LLC purchased a new position in Core & Main in the third quarter valued at $33,000. Money Concepts Capital Corp purchased a new position in shares of Core & Main in the 4th quarter valued at about $39,000. Finally, Kepos Capital LP acquired a new position in shares of Core & Main during the 3rd quarter worth approximately $41,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

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 accessories, installation, software, and other services.