Core & Main, Inc. (NYSE:CNM) CAO Sells $298,427.69 in Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 5,503 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $54.23, for a total value of $298,427.69. Following the transaction, the chief accounting officer now directly owns 4,281 shares in the company, valued at approximately $232,158.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, April 23rd, John Weldon Stephens sold 9,497 shares of Core & Main stock. The shares were sold at an average price of $55.19, for a total value of $524,139.43.
• On Friday, March 22nd, John Weldon Stephens sold 15,000 shares of Core & Main stock. The shares were sold at an average price of $57.91, for a total value of $868,650.00.
• 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 value of $2,195,878.00.
• On Monday, March 4th, John Weldon Stephens sold 1,100 shares of Core & Main stock. The shares were sold at an average price of $50.02, for a total value of $55,022.00.

Core & Main Stock Performance

NYSE CNM opened at $56.76 on Friday. The company has a market capitalization of $11.43 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.73 and a beta of 1.15. Core & Main, Inc. has a twelve month low of $25.16 and a twelve month high of $60.83. The stock has a fifty day simple moving average of $52.89 and a 200 day simple moving average of $42.44. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. Core & Main’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. Sell-side analysts expect that Core & Main, Inc. will post 2.59 EPS for the current year.

Institutional Trading of Core & Main

A number of large investors have recently bought and sold shares of CNM. National Bank of Canada FI grew its holdings in Core & Main by 57.0% during the 3rd quarter. National Bank of Canada FI now owns 12,001 shares of the company’s stock worth $342,000 after acquiring an additional 4,357 shares during the period. Exchange Traded Concepts LLC grew its holdings in Core & Main by 17.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 18,419 shares of the company’s stock worth $531,000 after acquiring an additional 2,716 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in Core & Main during the 3rd quarter worth about $265,000. Oak Thistle LLC lifted its position in Core & Main by 13.8% in the 3rd quarter. Oak Thistle LLC now owns 19,540 shares of the company’s stock valued at $564,000 after acquiring an additional 2,377 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Core & Main by 5,688.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 966,700 shares of the company’s stock valued at $27,889,000 after acquiring an additional 950,000 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Loop Capital increased their price target on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Citigroup downgraded Core & Main from a “buy” rating to a “neutral” rating and increased their price target for the stock from $63.00 to $64.00 in a research report on Friday, April 5th. Truist Financial restated a “hold” rating and set a $38.00 target price on shares of Core & Main in a research note on Wednesday, March 20th. The Goldman Sachs Group upped their target price on Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Finally, JPMorgan Chase & Co. upped their target price on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.08.

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.