Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg Sells 50,000 Shares

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 50,000 shares of Core & Main stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $54.08, for a total value of $2,704,000.00. Following the transaction, the general counsel now directly owns 12,933 shares in the company, valued at $699,416.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Core & Main Stock Performance

Shares of Core & Main stock traded up $1.36 during midday trading on Tuesday, hitting $55.97. The company 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 25.40, a P/E/G ratio of 1.68 and a beta of 1.15. Core & Main, Inc. has a 1-year low of $25.16 and a 1-year high of $60.83. The business’s 50 day simple moving average is $52.15 and its two-hundred day simple moving average is $42.06. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts predict that Core & Main, Inc. will post 2.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CNM. Barclays boosted their target price on shares of Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Loop Capital increased their price objective on Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Citigroup cut Core & Main from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $63.00 to $64.00 in a report on Friday, April 5th. The Goldman Sachs Group upped their target price on Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. lifted their price target on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Core & Main presently has an average rating of “Moderate Buy” and an average price target of $50.08.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CNM. Rise Advisors LLC acquired a new position in Core & Main in the first quarter worth $27,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Core & Main in the 3rd quarter valued at about $28,000. Quadrant Capital Group LLC raised its stake in shares of Core & Main by 74.5% in the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares during the last quarter. Kepos Capital LP acquired a new position in shares of Core & Main during the third quarter worth approximately $41,000. Finally, GAMMA Investing LLC bought a new stake in shares of Core & Main during the fourth quarter valued at approximately $41,000. Institutional investors own 94.19% of the company’s stock.

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.