Core & Main, Inc. (NYSE:CNM) CEO Mark R. Witkowski Sells 100,000 Shares of Stock

Core & Main, Inc. (NYSE:CNM) CEO Mark R. Witkowski sold 100,000 shares of Core & Main stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the sale, the chief executive officer owned 35,847 shares in the company, valued at approximately $2,195,987.22. This trade represents a 73.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Core & Main Stock Performance

NYSE CNM opened at $62.95 on Tuesday. The stock has a 50-day simple moving average of $57.69 and a two-hundred day simple moving average of $53.50. The firm has a market capitalization of $12.41 billion, a P/E ratio of 29.28, a PEG ratio of 1.83 and a beta of 1.04. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $63.84. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm earned $0.49 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

CNM has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of Core & Main from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Loop Capital upped their target price on Core & Main from $63.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. JPMorgan Chase & Co. lifted their price objective on Core & Main from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research report on Tuesday, April 1st. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Royal Bank Of Canada increased their price target on Core & Main from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, June 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Core & Main has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Institutional Trading of Core & Main

Several institutional investors have recently added to or reduced their stakes in CNM. Parallel Advisors LLC raised its stake in Core & Main by 447.1% during the first quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock worth $31,000 after purchasing an additional 532 shares during the period. Bfsg LLC raised its holdings in shares of Core & Main by 56.4% in the 2nd quarter. Bfsg LLC now owns 560 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Core & Main by 262.0% during the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after acquiring an additional 524 shares during the period. Rossby Financial LCC bought a new stake in Core & Main in the first quarter worth approximately $37,000. Finally, CWM LLC lifted its stake in shares of Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company’s stock worth $41,000 after buying an additional 213 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

About Core & Main

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.