Core & Main, Inc. (NYSE:CNM) Director James G. Castellano Sells 43,994 Shares

Core & Main, Inc. (NYSE:CNM) Director James G. Castellano sold 43,994 shares of the firm’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $61.98, for a total transaction of $2,726,748.12. Following the sale, the director directly owned 4,638 shares in the company, valued at $287,463.24. This represents a 90.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Core & Main Stock Performance

Shares of CNM stock opened at $62.95 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $63.84. The company has a market cap of $12.41 billion, a PE ratio of 29.28, a P/E/G ratio of 1.83 and a beta of 1.04. The company’s fifty day simple moving average is $57.69 and its 200-day simple moving average is $53.50.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 business posted $0.49 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC grew its holdings in shares of Core & Main by 447.1% during the first quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock valued at $31,000 after buying an additional 532 shares in the last quarter. Bfsg LLC raised its position in Core & Main by 56.4% in the second 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 boosted its stake in Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after purchasing an additional 524 shares in the last quarter. Rossby Financial LCC acquired a new stake in shares of Core & Main in the 1st quarter valued at $37,000. Finally, CWM LLC lifted its stake in shares of Core & Main by 34.0% in the 1st quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after purchasing an additional 213 shares during the period. 94.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CNM shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a research note on Tuesday, April 1st. They set a “buy” rating and a $60.00 price objective on the stock. Royal Bank Of Canada raised their price objective on Core & Main from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, June 10th. Robert W. Baird dropped their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Citigroup increased their target price on Core & Main from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 10th. Finally, Loop Capital lifted their price target on Core & Main from $63.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Core & Main currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

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.