Insider Selling: Core & Main, Inc. (NYSE:CNM) CAO Sells 15,000 Shares of Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 15,000 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 $868,650.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,281 shares of the company’s stock, valued at approximately $247,912.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 stock was sold at an average price of $50.02, for a total transaction of $55,022.00.

Core & Main Stock Performance

NYSE:CNM opened at $56.77 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30. The firm has a market capitalization of $12.28 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.85 and a beta of 1.11. The company’s 50-day moving average is $46.77 and its two-hundred day moving average is $38.47. Core & Main, Inc. has a 1-year low of $21.32 and a 1-year high of $58.26.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. The company had revenue of $1.44 billion for 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%. Core & Main’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS. Analysts forecast that Core & Main, Inc. will post 2.58 EPS for the current year.

Hedge Funds Weigh In On Core & Main

Institutional investors and hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its holdings in Core & Main by 74.5% in the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Core & Main in the 3rd quarter worth approximately $28,000. GAMMA Investing LLC acquired a new position in shares of Core & Main in the 4th quarter worth approximately $41,000. Penserra Capital Management LLC acquired a new position in shares of Core & Main in the 2nd quarter worth approximately $31,000. Finally, Principal Securities Inc. acquired a new position in shares of Core & Main in the 4th quarter worth approximately $43,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CNM. JPMorgan Chase & Co. boosted their target price on shares of Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Citigroup boosted their target price on shares of Core & Main from $48.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. 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. Royal Bank of Canada boosted their target price on shares of Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Finally, The Goldman Sachs Group boosted their target price on shares of Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

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.