Core & Main, Inc. (NYSE:CNM) Director Orvin T. Kimbrough Sells 23,962 Shares of Stock

Core & Main, Inc. (NYSE:CNM) Director Orvin T. Kimbrough sold 23,962 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $61.77, for a total transaction of $1,480,132.74. Following the completion of the transaction, the director owned 13,958 shares in the company, valued at approximately $862,185.66. The trade was a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Core & Main Stock Performance

Core & Main stock opened at $62.95 on Tuesday. The firm’s 50 day simple moving average is $57.69 and its 200 day simple moving average is $53.50. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $12.41 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $63.84.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.84 billion. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. Core & Main’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 EPS. As a group, analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Core & Main

Institutional investors and hedge funds have recently made changes to their positions in the stock. Enhancing Capital LLC lifted its position in shares of Core & Main by 0.6% in the 1st quarter. Enhancing Capital LLC now owns 31,846 shares of the company’s stock worth $1,538,000 after purchasing an additional 196 shares during the period. Bfsg LLC lifted its position 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 during the period. CWM LLC lifted its position in Core & Main by 34.0% during the 1st quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after acquiring an additional 213 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Core & Main by 3.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company’s stock valued at $343,000 after acquiring an additional 229 shares during the period. Finally, Crossmark Global Holdings Inc. raised its holdings in Core & Main by 2.6% in the first quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company’s stock worth $527,000 after buying an additional 272 shares during the last quarter. Hedge funds and other institutional investors 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.