Insider Selling: Core & Main, Inc. (NYSE:CNM) President Sells 12,500 Shares of Stock

Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles sold 12,500 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.50, for a total value of $631,250.00. Following the transaction, the president now directly owns 16,010 shares of the company’s stock, valued at approximately $808,505. This represents a 43.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Core & Main Price Performance

NYSE:CNM traded up $2.19 during trading hours on Tuesday, hitting $53.94. The company’s stock had a trading volume of 2,098,781 shares, compared to its average volume of 1,603,635. The business’s 50-day moving average is $49.42 and its two-hundred day moving average is $47.83. The company has a market capitalization of $10.72 billion, a PE ratio of 25.32, a PEG ratio of 2.95 and a beta of 1.02. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CNM. Wells Fargo & Company boosted their target price on Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Citigroup boosted their target price on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Robert W. Baird boosted their price objective on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Loop Capital boosted their price objective on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their price objective on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.30.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Select Equity Group L.P. increased its position in shares of Core & Main by 0.3% in the second quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock valued at $754,986,000 after buying an additional 39,475 shares in the last quarter. FMR LLC boosted its stake in shares of Core & Main by 28.0% during the third 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. State Street Corp boosted its stake in shares of Core & Main by 9.7% during the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock valued at $245,177,000 after acquiring an additional 489,224 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Core & Main by 1.0% during the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock valued at $188,710,000 after acquiring an additional 41,521 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its stake in shares of Core & Main by 39.9% during the third quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock valued at $167,029,000 after acquiring an additional 1,073,451 shares during the last quarter. Hedge funds and other 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.