Insider Selling: Core & Main, Inc. (NYSE:CNM) CAO Sells $524,139.43 in Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 9,497 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.19, for a total transaction of $524,139.43. Following the sale, the chief accounting officer now owns 4,281 shares in the company, valued at approximately $236,268.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, April 19th, John Weldon Stephens sold 5,503 shares of Core & Main stock. The shares were sold at an average price of $54.23, for a total transaction of $298,427.69.
• 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 transaction 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 transaction 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 transaction of $55,022.00.

Core & Main Price Performance

Core & Main stock opened at $57.31 on Friday. Core & Main, Inc. has a 12-month low of $25.18 and a 12-month high of $60.83. The stock has a market cap of $11.54 billion, a P/E ratio of 26.66, a PEG ratio of 1.74 and a beta of 1.15. The company has a 50-day moving average price of $53.15 and a 200 day moving average price of $42.63. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share 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 business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Sell-side analysts anticipate that Core & Main, Inc. will post 2.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CNM. Citigroup downgraded shares of Core & Main from a “buy” rating to a “neutral” rating and increased their price objective for the company from $63.00 to $64.00 in a report on Friday, April 5th. Truist Financial reaffirmed a “hold” rating and set a $38.00 price objective on shares of Core & Main in a report on Wednesday, March 20th. Loop Capital increased their price objective on shares of Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. The Goldman Sachs Group raised their price target on shares of Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Finally, Barclays raised their price target on shares of Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.08.

Institutional Investors Weigh In On Core & Main

A number of institutional investors have recently made changes to their positions in the stock. Caas Capital Management LP acquired a new stake in shares of Core & Main during the first quarter valued at about $6,262,000. Securian Asset Management Inc. grew its holdings in shares of Core & Main by 20.4% in the first quarter. Securian Asset Management Inc. now owns 13,934 shares of the company’s stock valued at $798,000 after purchasing an additional 2,358 shares in the last quarter. Yousif Capital Management LLC grew its holdings in shares of Core & Main by 34.8% in the first quarter. Yousif Capital Management LLC now owns 78,247 shares of the company’s stock valued at $4,480,000 after purchasing an additional 20,184 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of Core & Main by 49.0% in the first quarter. New York State Teachers Retirement System now owns 66,566 shares of the company’s stock valued at $3,811,000 after purchasing an additional 21,896 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Core & Main by 415.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,097,951 shares of the company’s stock valued at $120,108,000 after purchasing an additional 1,690,654 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Company Profile

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.