Core & Main, Inc. (NYSE:CNM) President Sells $2,753,500.00 in Stock

Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles sold 50,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total value of $2,753,500.00. Following the transaction, the president now directly owns 18,423 shares of the company’s stock, valued at approximately $1,014,554.61. The trade was a 73.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Core & Main Stock Down 1.1 %

Shares of NYSE CNM traded down $0.63 during mid-day trading on Thursday, reaching $54.62. The company had a trading volume of 2,895,847 shares, compared to its average volume of 2,604,923. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.34 and a current ratio of 2.14. Core & Main, Inc. has a twelve month low of $35.70 and a twelve month high of $62.15. The stock’s 50 day moving average is $45.25 and its 200-day moving average is $48.11. The stock has a market capitalization of $10.99 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 3.63 and a beta of 1.04.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the business earned $0.65 EPS. As a group, equities analysts anticipate that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Select Equity Group L.P. boosted its holdings in 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 worth $754,986,000 after purchasing an additional 39,475 shares in the last quarter. FMR LLC increased its holdings in shares of Core & Main by 28.0% during the 3rd 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 raised its stake in shares of Core & Main by 9.7% in the 3rd 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 in the last quarter. Pacer Advisors Inc. boosted its position in Core & Main by 1.0% during the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock worth $188,710,000 after purchasing an additional 41,521 shares during the period. Finally, Royal London Asset Management Ltd. grew its holdings in 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 purchasing an additional 1,073,451 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

CNM has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 target price (up from $53.00) on shares of Core & Main in a research report on Wednesday. Truist Financial lifted their price target on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday. Bank of America decreased their target price on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, September 5th. Finally, Wells Fargo & Company raised their price objective on shares of Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.10.

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.