Core & Main, Inc. (NYSE:CNM) General Counsel Sells $2,524,500.00 in Stock

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 50,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the completion of the transaction, the general counsel now directly owns 7,667 shares of the company’s stock, valued at approximately $387,106.83. The trade was a 86.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Core & Main Price Performance

CNM stock opened at $54.83 on Friday. The firm’s 50-day moving average price is $49.56 and its two-hundred day moving average price is $47.87. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.79 and a beta of 1.02. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) 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 firm 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 company earned $0.65 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Hedge Funds Weigh In On Core & Main

A number of hedge funds have recently modified their holdings of the company. UMB Bank n.a. increased its position in shares of Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after acquiring an additional 684 shares during the period. Avanza Fonder AB purchased a new position in shares of Core & Main during the fourth quarter valued at about $97,000. Border to Coast Pensions Partnership Ltd increased its position in shares of Core & Main by 11.8% during the fourth quarter. Border to Coast Pensions Partnership Ltd now owns 469,842 shares of the company’s stock valued at $23,904,000 after buying an additional 49,619 shares during the period. Ritholtz Wealth Management increased its position in shares of Core & Main by 4.3% during the fourth quarter. Ritholtz Wealth Management now owns 14,647 shares of the company’s stock valued at $746,000 after buying an additional 601 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of Core & Main by 4.8% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock valued at $286,000 after buying an additional 258 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Analysts Set New Price Targets

CNM has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Truist Financial lifted their price objective on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Robert W. Baird lifted their price objective on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Finally, Loop Capital boosted their price target on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.30.

About Core & Main

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.