Core & Main, Inc. (NYSE:CNM) General Counsel Sells $2,524,500.00 in Stock

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.49, for a total value of $2,524,500.00. Following the sale, the general counsel now owns 7,667 shares of the company’s stock, valued at approximately $387,106.83. This represents a 86.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Core & Main Price Performance

CNM stock opened at $53.94 on Wednesday. The company’s 50-day moving average price is $49.42 and its two-hundred day moving average price is $47.83. The firm has a market cap of $10.72 billion, a P/E ratio of 25.32, a P/E/G ratio of 2.95 and a beta of 1.02. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period last year, the firm posted $0.65 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CNM has been the subject of several recent research reports. Truist Financial boosted their price target on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Barclays boosted their target price on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price target on shares of Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Robert W. Baird boosted their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Loop Capital raised their target price on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Core & Main presently has a consensus rating of “Moderate Buy” and an average target price of $57.30.

Hedge Funds Weigh In On Core & Main

Institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new position in Core & Main in the third quarter valued at about $26,000. ORG Wealth Partners LLC bought a new position in Core & Main in the 3rd quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB bought a new position in Core & Main in the 3rd quarter valued at approximately $49,000. GAMMA Investing LLC boosted its position in Core & Main by 61.1% in the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after buying an additional 511 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Core & Main during the second quarter worth $76,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

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.