Core & Main, Inc. (NYSE:CNM) Director Sells $828,750.00 in Stock

Core & Main, Inc. (NYSE:CNM) Director Margaret Newman sold 15,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $55.25, for a total transaction of $828,750.00. Following the transaction, the director now directly owns 11,769 shares in the company, valued at $650,237.25. The trade was a 56.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Core & Main Stock Performance

CNM opened at $53.86 on Friday. The business’s 50 day moving average is $45.60 and its 200-day moving average is $48.11. The stock has a market cap of $10.83 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 3.59 and a beta of 1.04. The company has a current ratio of 2.14, a quick ratio of 1.34 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a twelve month low of $35.70 and a twelve month high of $62.15.

Core & Main (NYSE:CNM) last released 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. The company had revenue of $2.04 billion for 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%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 earnings per share. On average, analysts predict that Core & Main, Inc. will post 2.14 earnings per share for the current year.

Institutional Investors Weigh In On Core & Main

A number of hedge funds have recently made changes to their positions in the business. Retirement Systems of Alabama raised its holdings in shares of Core & Main by 10.1% during the third quarter. Retirement Systems of Alabama now owns 254,759 shares of the company’s stock valued at $11,311,000 after buying an additional 23,277 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Core & Main during the third quarter valued at approximately $49,000. Geode Capital Management LLC increased its stake in shares of Core & Main by 14.5% during the third quarter. Geode Capital Management LLC now owns 3,261,964 shares of the company’s stock valued at $144,869,000 after acquiring an additional 412,520 shares during the period. Vestcor Inc increased its stake in shares of Core & Main by 233.9% during the third quarter. Vestcor Inc now owns 16,026 shares of the company’s stock valued at $712,000 after acquiring an additional 11,227 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Core & Main by 10.0% during the third quarter. Public Employees Retirement System of Ohio now owns 125,473 shares of the company’s stock valued at $5,571,000 after acquiring an additional 11,427 shares during the period. Institutional investors own 94.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CNM. Bank of America reduced their price target on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Robert W. Baird increased their price target on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group raised their target price on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday. Loop Capital raised their target price on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Truist Financial raised their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.10.

About Core & Main

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.