Core & Main, Inc. (NYSE:CNM) General Counsel Sells $2,895,500.00 in Stock

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 50,000 shares of Core & Main stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $57.91, for a total transaction of $2,895,500.00. Following the completion of the transaction, the general counsel now directly owns 12,933 shares in the company, valued at $748,950.03. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Core & Main Price Performance

Shares of NYSE CNM opened at $56.77 on Thursday. The firm has a market capitalization of $12.28 billion, a P/E ratio of 26.40, a PEG ratio of 1.85 and a beta of 1.11. Core & Main, Inc. has a one year low of $21.32 and a one year high of $58.26. The company’s fifty day moving average is $46.77 and its two-hundred day moving average is $38.47. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.30 and a current ratio of 2.29.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $1.43 billion. During the same quarter in the prior year, the company posted $0.31 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Analysts forecast that Core & Main, Inc. will post 2.58 EPS for the current fiscal year.

Analyst Ratings Changes

CNM has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research report 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 report on Wednesday, March 20th. The Goldman Sachs Group lifted their price objective on shares of Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday. Loop Capital lifted their price objective on shares of Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Truist Financial reiterated a “hold” rating and issued a $38.00 price objective on shares of Core & Main in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Institutional Trading of Core & Main

A number of institutional investors have recently modified their holdings of CNM. JPMorgan Chase & Co. grew its holdings in shares of Core & Main by 83.9% during the 1st quarter. JPMorgan Chase & Co. now owns 114,575 shares of the company’s stock worth $2,772,000 after purchasing an additional 52,285 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Core & Main by 68.4% during the 1st quarter. Bank of New York Mellon Corp now owns 134,101 shares of the company’s stock worth $3,245,000 after purchasing an additional 54,460 shares during the period. Bank of Montreal Can purchased a new stake in shares of Core & Main during the 1st quarter worth about $1,208,000. Acadian Asset Management LLC purchased a new position in Core & Main in the 1st quarter worth approximately $364,000. Finally, MetLife Investment Management LLC purchased a new position in Core & Main in the 1st quarter worth approximately $58,000. Hedge funds and other institutional investors 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.