Core & Main, Inc. (NYSE:CNM) General Counsel Sells $54,027.00 in Stock

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 900 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $60.03, for a total transaction of $54,027.00. Following the completion of the transaction, the general counsel now owns 9,691 shares in the company, valued at $581,750.73. This represents a 8.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Core & Main Price Performance

CNM opened at $56.70 on Friday. The stock has a fifty day simple moving average of $52.71 and a two-hundred day simple moving average of $51.95. 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 company has a market cap of $11.22 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.61 and a beta of 1.02. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $60.38.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. Research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CNM has been the subject of a number of recent analyst reports. Robert W. Baird decreased their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, March 26th. Wells Fargo & Company upped their target price on Core & Main from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. upped their target price on Core & Main from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, May 27th. Loop Capital upped their target price on Core & Main from $63.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Citigroup upped their target price on Core & Main from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.55.

Institutional Investors Weigh In On Core & Main

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Core & Main by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock worth $927,580,000 after acquiring an additional 221,970 shares during the last quarter. FMR LLC raised its stake in shares of Core & Main by 4.1% in the fourth quarter. FMR LLC now owns 9,055,993 shares of the company’s stock worth $461,041,000 after buying an additional 358,909 shares during the period. Invesco Ltd. raised its stake in shares of Core & Main by 0.8% in the fourth quarter. Invesco Ltd. now owns 5,926,569 shares of the company’s stock worth $301,722,000 after buying an additional 44,513 shares during the period. Bessemer Group Inc. raised its stake in Core & Main by 0.5% during the 4th quarter. Bessemer Group Inc. now owns 3,835,182 shares of the company’s stock valued at $195,250,000 after purchasing an additional 20,756 shares during the period. Finally, Royal London Asset Management Ltd. raised its stake in Core & Main by 1.3% during the 4th quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company’s stock valued at $194,005,000 after purchasing an additional 48,833 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

About Core & Main

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.