John R. Schaller Sells 60,452 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) EVP John R. Schaller sold 60,452 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the completion of the transaction, the executive vice president now owns 17,898 shares in the company, valued at $905,101.86. This represents a 77.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Core & Main Stock Performance

Shares of Core & Main stock opened at $54.83 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $10.89 billion, a P/E ratio of 25.74, a P/E/G ratio of 2.79 and a beta of 1.02. The business has a fifty day simple moving average of $49.56 and a two-hundred day simple moving average of $47.87. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. On average, equities analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Core & Main

Several large investors have recently modified their holdings of the stock. Select Equity Group L.P. raised its position in shares of Core & Main by 0.3% in the 2nd 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 during the last quarter. FMR LLC raised its position in shares of Core & Main by 28.0% in the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after purchasing an additional 1,903,280 shares during the last quarter. State Street Corp raised its position 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 worth $245,177,000 after purchasing an additional 489,224 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Core & Main by 1.0% in the 3rd 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 last quarter. Finally, Royal London Asset Management Ltd. raised its position in Core & Main by 39.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock worth $167,029,000 after buying an additional 1,073,451 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Analysts Set New Price Targets

CNM has been the topic of several recent analyst reports. Barclays raised their target price on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price target on shares of Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Truist Financial lifted their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Robert W. Baird lifted their price target on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Loop Capital lifted their price target on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.30.

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.