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 dated Friday, April 19th. The shares were sold at an average price of $54.08, for a total transaction of $2,704,000.00. Following the sale, the general counsel now owns 12,933 shares of the company’s stock, valued at $699,416.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Core & Main Stock Performance

Shares of NYSE CNM opened at $55.97 on Wednesday. The firm has a 50 day moving average of $52.40 and a 200 day moving average of $42.24. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 1.68 and a beta of 1.15. Core & Main, Inc. has a 12-month low of $25.16 and a 12-month high of $60.83.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business posted $0.31 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, research analysts anticipate that Core & Main, Inc. will post 2.59 earnings per share for the current year.

Hedge Funds Weigh In On Core & Main

Large investors have recently added to or reduced their stakes in the company. Renaissance Capital LLC lifted its holdings in Core & Main by 59.0% during the fourth quarter. Renaissance Capital LLC now owns 85,574 shares of the company’s stock valued at $3,458,000 after purchasing an additional 31,740 shares in the last quarter. State of Michigan Retirement System purchased a new position in Core & Main during the fourth quarter valued at approximately $1,325,000. Exchange Traded Concepts LLC lifted its holdings in Core & Main by 328.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 78,854 shares of the company’s stock valued at $3,186,000 after purchasing an additional 60,435 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Core & Main by 4.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,734,897 shares of the company’s stock valued at $70,107,000 after purchasing an additional 73,790 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new position in shares of Core & Main in the fourth quarter worth $1,805,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CNM. Citigroup lowered shares of Core & Main from a “buy” rating to a “neutral” rating and raised their price objective for the company from $63.00 to $64.00 in a research note on Friday, April 5th. Truist Financial restated a “hold” rating and set a $38.00 price objective on shares of Core & Main in a research note on Wednesday, March 20th. JPMorgan Chase & Co. lifted their price target on shares of Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group lifted their price target on shares of Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Finally, Loop Capital lifted their price target on shares of Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Core & Main has an average rating of “Moderate Buy” and an average price target of $50.08.

Core & Main Company Profile

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.