Core & Main, Inc. (NYSE:CNM) CEO Stephen O. Leclair Sells 200,000 Shares

Core & Main, Inc. (NYSE:CNM) CEO Stephen O. Leclair sold 200,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the transaction, the chief executive officer now owns 92,349 shares of the company’s stock, valued at approximately $5,068,113.12. The trade was a 68.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Core & Main Stock Down 1.1 %

Shares of CNM traded down $0.63 during trading hours on Thursday, reaching $54.62. The company’s stock had a trading volume of 2,895,847 shares, compared to its average volume of 2,604,923. The company has a 50 day moving average of $45.25 and a two-hundred day moving average of $48.11. The company has a quick ratio of 1.34, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a 1-year low of $35.70 and a 1-year high of $62.15. The firm has a market cap of $10.99 billion, a price-to-earnings ratio of 25.64, a P/E/G ratio of 3.63 and a beta of 1.04.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 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 company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the firm posted $0.65 earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, research analysts predict that Core & Main, Inc. will post 2.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Loop Capital increased their price target on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group raised their price target on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. cut their price target on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Truist Financial raised their price target on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their price objective on Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.10.

Hedge Funds Weigh In On Core & Main

Several institutional investors have recently added to or reduced their stakes in CNM. Ashton Thomas Securities LLC bought a new position in Core & Main in the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new position in Core & Main during the 3rd quarter valued at about $31,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Core & Main during the 3rd quarter worth approximately $49,000. GAMMA Investing LLC grew its holdings in Core & Main by 61.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after acquiring an additional 511 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Core & Main in the 2nd quarter worth $76,000. 94.19% of the stock is owned by institutional investors.

Core & Main Company Profile

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.