Insider Selling: Core & Main, Inc. (NYSE:CNM) CAO Sells 5,503 Shares of Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 5,503 shares of Core & Main stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $54.23, for a total transaction of $298,427.69. Following the transaction, the chief accounting officer now owns 4,281 shares in the company, valued at $232,158.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

John Weldon Stephens also recently made the following trade(s):

• On Friday, March 22nd, John Weldon Stephens sold 15,000 shares of Core & Main stock. The shares were sold at an average price of $57.91, for a total transaction of $868,650.00.
• On Thursday, March 7th, John Weldon Stephens sold 43,900 shares of Core & Main stock. The shares were sold at an average price of $50.02, for a total transaction of $2,195,878.00.
• On Monday, March 4th, John Weldon Stephens sold 1,100 shares of Core & Main stock. The shares were sold at an average price of $50.02, for a total transaction of $55,022.00.

Core & Main Stock Up 2.5 %

Core & Main stock opened at $55.97 on Wednesday. The firm has a market cap of $11.27 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 1.68 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30. Core & Main, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $60.83. The firm has a fifty day moving average price of $52.40 and a two-hundred day moving average price of $42.24.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. The firm had revenue of $1.44 billion during 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%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 EPS. As a group, analysts forecast that Core & Main, Inc. will post 2.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Truist Financial reissued a “hold” rating and set a $38.00 target price on shares of Core & Main in a research note on Wednesday, March 20th. JPMorgan Chase & Co. lifted their target price on shares of Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Barclays lifted their price objective on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Finally, Citigroup lowered shares of Core & Main from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $63.00 to $64.00 in a research note on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CNM. Vanguard Group Inc. lifted its position in Core & Main by 41.4% during the 4th quarter. Vanguard Group Inc. now owns 13,417,484 shares of the company’s stock worth $542,201,000 after acquiring an additional 3,926,588 shares during the last quarter. FMR LLC lifted its position in Core & Main by 51.1% during the 3rd quarter. FMR LLC now owns 7,865,719 shares of the company’s stock worth $226,926,000 after acquiring an additional 2,660,097 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of Core & Main during the 4th quarter worth about $91,771,000. Handelsbanken Fonder AB raised its position in shares of Core & Main by 180.1% during the fourth quarter. Handelsbanken Fonder AB now owns 2,707,385 shares of the company’s stock valued at $109,405,000 after buying an additional 1,740,685 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Core & Main during the fourth quarter valued at about $69,282,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

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.