Mark G. Whittenburg Sells 1,974 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 1,974 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total transaction of $109,142.46. Following the sale, the general counsel now owns 7,667 shares of the company’s stock, valued at approximately $423,908.43. This represents a 20.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Core & Main Stock Up 0.6 %

Shares of CNM traded up $0.33 during trading on Friday, reaching $55.21. The company’s stock had a trading volume of 1,723,151 shares, compared to its average volume of 1,624,968. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 2.79 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. The company has a fifty day moving average of $49.74 and a two-hundred day moving average of $47.92. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15.

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

Analyst Upgrades and Downgrades

CNM has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Loop Capital boosted their price objective on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Citigroup increased their target price on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Robert W. Baird boosted their price target on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $62.00 price target (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.30.

Hedge Funds Weigh In On Core & Main

Large investors have recently modified their holdings of the stock. PointState Capital LP bought a new stake in Core & Main in the third quarter valued at about $100,013,000. FMR LLC increased its holdings in shares of Core & Main by 28.0% in the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after acquiring an additional 1,903,280 shares during the last quarter. Impax Asset Management Group plc raised its position in shares of Core & Main by 373.0% during the 3rd quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company’s stock valued at $89,416,000 after acquiring an additional 1,588,117 shares in the last quarter. Spruce House Investment Management LLC raised its position in shares of Core & Main by 400.0% during the 3rd quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company’s stock valued at $66,600,000 after acquiring an additional 1,200,000 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Core & Main by 37.1% during the second quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company’s stock worth $205,974,000 after purchasing an additional 1,137,817 shares during the last quarter. Institutional investors 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.