Core & Main, Inc. (NYSE:CNM) CAO Sells $298,427.69 in Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 5,503 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $54.23, for a total transaction of $298,427.69. Following the sale, the chief accounting officer now owns 4,281 shares in the company, valued at approximately $232,158.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, April 23rd, John Weldon Stephens sold 9,497 shares of Core & Main stock. The shares were sold at an average price of $55.19, for a total transaction of $524,139.43.
• 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 Stock Performance

Shares of NYSE CNM opened at $56.76 on Friday. The firm has a fifty day moving average price of $52.89 and a 200-day moving average price of $42.44. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30. The stock has a market cap of $11.43 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 1.73 and a beta of 1.15. Core & Main, Inc. has a 1 year low of $25.16 and a 1 year high of $60.83.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 earnings per share. Equities analysts anticipate that Core & Main, Inc. will post 2.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CNM has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, March 26th. Barclays increased their price objective on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research report 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 report on Wednesday, March 20th. Citigroup downgraded shares of Core & Main from a “buy” rating to a “neutral” rating and increased their price target for the stock from $63.00 to $64.00 in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.08.

Institutional Trading of Core & Main

A number of hedge funds and other institutional investors have recently modified their holdings of CNM. National Bank of Canada FI increased its stake in shares of Core & Main by 57.0% in the third quarter. National Bank of Canada FI now owns 12,001 shares of the company’s stock worth $342,000 after purchasing an additional 4,357 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Core & Main by 17.3% during the third quarter. Exchange Traded Concepts LLC now owns 18,419 shares of the company’s stock valued at $531,000 after acquiring an additional 2,716 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Core & Main during the third quarter valued at $265,000. Oak Thistle LLC grew its stake in Core & Main by 13.8% during the third quarter. Oak Thistle LLC now owns 19,540 shares of the company’s stock valued at $564,000 after acquiring an additional 2,377 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in Core & Main by 5,688.6% during the third quarter. Handelsbanken Fonder AB now owns 966,700 shares of the company’s stock valued at $27,889,000 after acquiring an additional 950,000 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

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.