Insider Selling: Core & Main, Inc. (NYSE:CNM) President Sells 12,500 Shares of Stock

Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles sold 12,500 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.50, for a total transaction of $631,250.00. Following the transaction, the president now owns 16,010 shares in the company, valued at approximately $808,505. The trade was a 43.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Core & Main Stock Performance

Core & Main stock opened at $53.94 on Wednesday. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The company’s 50-day moving average is $49.42 and its two-hundred day moving average is $47.83. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The company has a market cap of $10.72 billion, a PE ratio of 25.32, a PEG ratio of 2.95 and a beta of 1.02.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Truist Financial boosted their target price on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Citigroup boosted their price objective on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $62.00 target price (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. The Goldman Sachs Group upped their price target on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Finally, Barclays raised their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One research 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.30.

Institutional Investors Weigh In On Core & Main

Large investors have recently bought and sold shares of the company. Eagle Asset Management Inc. lifted its holdings in Core & Main by 2.6% during the third quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock worth $74,979,000 after acquiring an additional 44,282 shares in the last quarter. Quest Partners LLC raised its position in shares of Core & Main by 1,195,600.0% during the third quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock worth $531,000 after purchasing an additional 11,956 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in shares of Core & Main during the 3rd quarter valued at about $774,000. South Street Advisors LLC grew its position in shares of Core & Main by 36.0% in the 3rd quarter. South Street Advisors LLC now owns 234,144 shares of the company’s stock valued at $10,396,000 after purchasing an additional 61,962 shares during the period. Finally, Douglass Winthrop Advisors LLC increased its stake in Core & Main by 23.3% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company’s stock worth $3,120,000 after purchasing an additional 13,263 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

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.