Insider Selling: Core & Main, Inc. (NYSE:CNM) President Sells 25,000 Shares of Stock

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

Core & Main Trading Up 0.3 %

Shares of CNM opened at $54.22 on Friday. The company’s fifty day moving average is $53.40 and its 200 day moving average is $48.62. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The stock 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 debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CNM shares. Citigroup lifted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. The Goldman Sachs Group lifted 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. Truist Financial lifted 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. Wells Fargo & Company lifted 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.60.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Core & Main by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock valued at $927,580,000 after acquiring an additional 221,970 shares during the last quarter. FMR LLC boosted its stake in shares of Core & Main by 4.1% during the fourth quarter. FMR LLC now owns 9,055,993 shares of the company’s stock valued at $461,041,000 after purchasing an additional 358,909 shares during the period. Invesco Ltd. boosted its stake in shares of Core & Main by 0.8% during the fourth quarter. Invesco Ltd. now owns 5,926,569 shares of the company’s stock valued at $301,722,000 after purchasing an additional 44,513 shares during the period. State Street Corp boosted its stake in shares of Core & Main by 9.7% during the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock valued at $245,177,000 after purchasing an additional 489,224 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of Core & Main by 1.0% during the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock valued at $188,710,000 after purchasing an additional 41,521 shares during the period. Institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

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.