Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg Sells 50,000 Shares

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $54.08, for a total transaction of $2,704,000.00. Following the completion of the transaction, the general counsel now owns 12,933 shares in the company, valued at approximately $699,416.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Core & Main Price Performance

NYSE CNM opened at $56.76 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. The company has a fifty day simple moving average of $52.89 and a 200 day simple moving average of $42.44. The company has a market cap of $11.43 billion, a P/E ratio of 26.40, a P/E/G ratio of 1.73 and a beta of 1.15. Core & Main, Inc. has a 1 year low of $25.16 and a 1 year high of $60.83.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. Core & Main’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. On average, sell-side analysts predict that Core & Main, Inc. will post 2.59 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup lowered shares of Core & Main from a “buy” rating to a “neutral” rating and upped their price objective for the company from $63.00 to $64.00 in a research note on Friday, April 5th. The Goldman Sachs Group upped their price objective on shares of Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Loop Capital boosted their target price on shares of Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada boosted their target price on shares of Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Finally, Truist Financial reissued a “hold” rating and issued a $38.00 target price on shares of Core & Main in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Core & Main presently has a consensus rating of “Moderate Buy” and an average target price of $50.08.

Hedge Funds Weigh In On Core & Main

Large investors have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new position in Core & Main during the 1st quarter valued at $27,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Core & Main during the 3rd quarter valued at $28,000. Quadrant Capital Group LLC raised its stake in Core & Main by 74.5% during the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares during the last quarter. Kepos Capital LP acquired a new position in Core & Main during the 3rd quarter valued at $41,000. Finally, GAMMA Investing LLC acquired a new position in Core & Main during the 4th quarter valued at $41,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

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.