Insider Selling: Core & Main, Inc. (NYSE:CNM) CAO Sells 9,497 Shares of Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 9,497 shares of the business’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 directly owns 4,281 shares in the company, valued at approximately $236,268.39. The sale was disclosed in a legal filing with the SEC, which is available 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 stock was 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 stock was 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 Stock Up 0.3 %

Shares of NYSE:CNM traded up $0.19 during trading on Wednesday, reaching $56.16. 1,145,746 shares of the stock traded hands, compared to its average volume of 2,855,459. The stock has a 50-day moving average of $52.40 and a two-hundred day moving average of $42.24. Core & Main, Inc. has a 52-week low of $25.16 and a 52-week high of $60.83. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.30 and a current ratio of 2.29. The stock has a market cap of $11.31 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 EPS 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 firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, sell-side analysts expect that Core & Main, Inc. will post 2.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CNM. Barclays upped their price objective on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Royal Bank of Canada increased their price target 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. Truist Financial reissued a “hold” rating and issued a $38.00 price target on shares of Core & Main in a research note on Wednesday, March 20th. The Goldman Sachs Group increased 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, Loop Capital increased their price target on shares of Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Core & Main presently has an average rating of “Moderate Buy” and an average target price of $50.08.

Institutional Trading of Core & Main

Several institutional investors and hedge funds have recently modified their holdings of CNM. Rise Advisors LLC bought a new stake in Core & Main in the 1st quarter valued at $27,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Core & Main in the 3rd quarter valued at $28,000. Quadrant Capital Group LLC increased 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 acquiring an additional 365 shares during the last quarter. Kepos Capital LP bought a new stake in Core & Main in the 3rd quarter valued at $41,000. Finally, GAMMA Investing LLC bought a new stake in Core & Main in the 4th quarter valued at $41,000. 94.19% of the stock is currently owned by institutional investors.

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.