Insider Selling: Core & Main, Inc. (NYSE:CNM) President Sells $675,875.00 in Stock

Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles sold 12,500 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $54.07, for a total value of $675,875.00. Following the sale, the president now owns 16,010 shares in the company, valued at $865,660.70. The trade was a 43.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Core & Main Trading Up 1.3 %

NYSE CNM opened at $54.83 on Friday. 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, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The company has a market capitalization of $10.89 billion, a PE ratio of 25.74, a P/E/G ratio of 2.79 and a beta of 1.02. The stock has a 50-day simple moving average of $49.56 and a 200 day simple moving average of $47.87.

Core & Main (NYSE:CNM) last announced its quarterly earnings results 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. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. Core & Main’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the company posted $0.65 EPS. Research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Institutional Trading of Core & Main

A number of large investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Core & Main in the third quarter valued at about $26,000. ORG Wealth Partners LLC bought a new stake in Core & Main during the 3rd quarter worth approximately $31,000. UMB Bank n.a. raised its holdings in Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after buying an additional 684 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Core & Main in the third quarter valued at approximately $49,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Core & Main by 61.1% in the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after buying an additional 511 shares during the period. Institutional investors own 94.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on CNM shares. Citigroup increased their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $62.00 price target (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Robert W. Baird boosted their price objective on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Loop Capital increased their price objective on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their target price on Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. One research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.30.

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.