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 company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $54.07, for a total transaction of $675,875.00. Following the sale, the president now directly owns 16,010 shares of the company’s stock, valued at $865,660.70. The trade was a 43.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Core & Main Stock Performance

Shares of Core & Main stock opened at $53.94 on Wednesday. The firm has a market cap of $10.72 billion, a PE ratio of 25.32, a price-to-earnings-growth 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 52 week low of $37.22 and a 52 week high of $62.15. The business’s fifty day simple moving average is $49.42 and its 200-day simple moving average is $47.83.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The company 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%. Core & Main’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 earnings per share. Equities analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CNM. Robert W. Baird upped their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Barclays upped their price target on 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 increased their price target on Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada reissued an “outperform” rating and set a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their target price on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, 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

Large investors have recently made changes to their positions in the stock. Eagle Asset Management Inc. lifted its stake in Core & Main by 2.6% during the third quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock worth $74,979,000 after purchasing an additional 44,282 shares in the last quarter. Quest Partners LLC raised its holdings in shares of Core & Main by 1,195,600.0% in the 3rd quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock valued at $531,000 after buying an additional 11,956 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in Core & Main during the 3rd quarter worth about $774,000. South Street Advisors LLC boosted its holdings in Core & Main by 36.0% during the 3rd quarter. South Street Advisors LLC now owns 234,144 shares of the company’s stock valued at $10,396,000 after acquiring an additional 61,962 shares during the period. Finally, Douglass Winthrop Advisors LLC grew its position in Core & Main by 23.3% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company’s stock valued at $3,120,000 after acquiring an additional 13,263 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

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.