Core & Main (NYSE:CNM) Announces Earnings Results, Beats Expectations By $0.19 EPS

Core & Main (NYSE:CNM) posted its quarterly earnings data on Wednesday. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.19, FiscalAI reports. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Core & Main had a return on equity of 25.45% and a net margin of 5.77%.

Core & Main Stock Performance

Shares of CNM opened at $52.63 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.63 and a debt-to-equity ratio of 1.02. The business has a 50-day simple moving average of $49.80 and a two-hundred day simple moving average of $52.04. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 1.88 and a beta of 0.91. Core & Main has a 52 week low of $43.96 and a 52 week high of $67.18.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CNM. Barclays reduced their price objective on Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.64.

Insider Transactions at Core & Main

In related news, Director James D. Hope purchased 1,972 shares of Core & Main stock in a transaction on Tuesday, April 7th. The stock was acquired at an average price of $50.70 per share, for a total transaction of $99,980.40. Following the completion of the transaction, the director directly owned 6,939 shares in the company, valued at $351,807.30. This represents a 39.70% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robyn L. Bradbury sold 5,000 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $52.54, for a total value of $262,700.00. Following the completion of the sale, the chief financial officer owned 12,500 shares of the company’s stock, valued at approximately $656,750. The trade was a 28.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.51% of the company’s stock.

Institutional Trading of Core & Main

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after acquiring an additional 269 shares during the period. Cubist Systematic Strategies LLC raised its stake in Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after purchasing an additional 524 shares during the period. Quarry LP bought a new stake in Core & Main during the 4th quarter valued at approximately $38,000. Los Angeles Capital Management LLC bought a new stake in Core & Main during the 4th quarter valued at approximately $44,000. Finally, Wilmington Savings Fund Society FSB raised its stake in Core & Main by 47.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 961 shares of the company’s stock valued at $52,000 after purchasing an additional 311 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.