Insider Selling: Core & Main, Inc. (NYSE:CNM) President Sells 25,000 Shares of Stock

Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles sold 25,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.48, for a total value of $1,362,000.00. Following the completion of the sale, the president now owns 16,010 shares of the company’s stock, valued at approximately $872,224.80. This trade represents a 60.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Core & Main Stock Performance

CNM traded down $0.84 during midday trading on Wednesday, reaching $54.00. The company’s stock had a trading volume of 1,378,590 shares, compared to its average volume of 1,539,475. The stock has a market cap of $10.73 billion, a P/E ratio of 25.35, a PEG ratio of 2.75 and a beta of 1.03. The company has a fifty day simple moving average of $53.43 and a 200 day simple moving average of $48.54. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. The Goldman Sachs Group upped their target price on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Wells Fargo & Company increased their price objective on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Truist Financial increased their price objective on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Citigroup increased their price objective on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $62.00 target price (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Institutional Investors Weigh In On Core & Main

Institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new stake in Core & Main during the third quarter worth $26,000. ORG Wealth Partners LLC acquired a new position in shares of Core & Main in the third quarter valued at about $31,000. Avior Wealth Management LLC grew its stake in Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after buying an additional 271 shares in the last quarter. UMB Bank n.a. grew its stake in Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after buying an additional 684 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Core & Main in the 3rd quarter valued at approximately $49,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

About Core & Main

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.