Core & Main, Inc. (NYSE:CNM) CAO Sells $298,427.69 in Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 5,503 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $54.23, for a total transaction of $298,427.69. Following the completion of the sale, the chief accounting officer now owns 4,281 shares in the company, valued at approximately $232,158.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

John Weldon Stephens also recently made the following trade(s):

• On Friday, March 22nd, John Weldon Stephens sold 15,000 shares of Core & Main stock. The stock was sold at an average price of $57.91, for a total transaction of $868,650.00.
• On Thursday, March 7th, John Weldon Stephens sold 43,900 shares of Core & Main stock. The stock was sold at an average price of $50.02, for a total transaction of $2,195,878.00.
• On Monday, March 4th, John Weldon Stephens sold 1,100 shares of Core & Main stock. The stock was sold at an average price of $50.02, for a total transaction of $55,022.00.

Core & Main Price Performance

NYSE CNM traded up $1.36 during trading hours on Tuesday, reaching $55.97. The company’s stock had a trading volume of 1,089,500 shares, compared to its average volume of 2,877,377. The stock has a market cap of $11.27 billion, a PE ratio of 26.03, a PEG ratio of 1.68 and a beta of 1.15. Core & Main, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $60.83. The company’s 50-day moving average is $52.15 and its two-hundred day moving average is $42.06. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.30 and a current ratio of 2.29.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 EPS. Analysts forecast that Core & Main, Inc. will post 2.59 EPS for the current year.

Institutional Investors Weigh In On Core & Main

Several hedge funds have recently modified their holdings of CNM. National Bank of Canada FI boosted its stake in shares of Core & Main by 57.0% during the 3rd quarter. National Bank of Canada FI now owns 12,001 shares of the company’s stock worth $342,000 after purchasing an additional 4,357 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Core & Main by 17.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 18,419 shares of the company’s stock worth $531,000 after acquiring an additional 2,716 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in shares of Core & Main during the 3rd quarter worth about $265,000. Oak Thistle LLC raised its holdings in Core & Main by 13.8% in the third quarter. Oak Thistle LLC now owns 19,540 shares of the company’s stock valued at $564,000 after buying an additional 2,377 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in Core & Main by 5,688.6% in the third quarter. Handelsbanken Fonder AB now owns 966,700 shares of the company’s stock valued at $27,889,000 after buying an additional 950,000 shares during the period. 94.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Loop Capital raised their price target on shares of Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada raised their price target on shares of Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. raised their price target on shares of Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Truist Financial reiterated a “hold” rating and issued a $38.00 target price on shares of Core & Main in a research report on Wednesday, March 20th. Finally, Barclays lifted their target price on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Core & Main presently has an average rating of “Moderate Buy” and an average target price of $50.08.

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.