Insider Selling: Core & Main, Inc. (NYSE:CNM) President Sells $1,362,000.00 in Stock

Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles sold 25,000 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the completion of the sale, the president now directly owns 16,010 shares in the company, valued at $872,224.80. This represents a 60.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Core & Main Stock Performance

Shares of CNM stock opened at $54.22 on Friday. The company has a 50 day moving average price of $53.40 and a 200-day moving average price of $48.62. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15. The firm has a market capitalization of $10.77 billion, a PE ratio of 25.46, a P/E/G ratio of 2.75 and a beta of 1.03. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

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

Hedge Funds Weigh In On Core & Main

Institutional investors and hedge funds have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new position in shares of Core & Main in the third quarter worth approximately $26,000. ORG Wealth Partners LLC purchased a new position in shares of Core & Main in the third quarter worth approximately $31,000. Avior Wealth Management LLC lifted its holdings in Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after purchasing an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Core & Main during the third quarter valued at approximately $49,000. Finally, UMB Bank n.a. lifted its holdings in Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after purchasing an additional 684 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CNM shares. Wells Fargo & Company increased their price objective on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Loop Capital increased their price objective on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Truist Financial increased their price objective on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Robert W. Baird increased their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their price objective on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.60.

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.