Mark G. Whittenburg Sells 1,974 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total transaction of $109,142.46. Following the sale, the general counsel now owns 7,667 shares of the company’s stock, valued at approximately $423,908.43. This trade represents a 20.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Core & Main Stock Performance

Shares of Core & Main stock opened at $55.21 on Friday. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The business has a 50 day moving average price of $49.97 and a 200-day moving average price of $47.97. The company has a market cap of $10.97 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.79 and a beta of 1.02.

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. The business had revenue of $2.04 billion during 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%. Core & Main’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. Equities analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eagle Asset Management Inc. lifted its position in shares of Core & Main by 2.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock worth $74,979,000 after buying an additional 44,282 shares in the last quarter. Quest Partners LLC grew its stake in Core & Main by 1,195,600.0% in the 3rd quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock valued at $531,000 after purchasing an additional 11,956 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Core & Main during the 3rd quarter valued at $774,000. South Street Advisors LLC raised its stake in shares of Core & Main by 36.0% during the 3rd quarter. South Street Advisors LLC now owns 234,144 shares of the company’s stock worth $10,396,000 after purchasing an additional 61,962 shares during the period. Finally, Douglass Winthrop Advisors LLC boosted its holdings in shares of Core & Main by 23.3% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company’s stock worth $3,120,000 after buying an additional 13,263 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CNM. Barclays increased their price target on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Loop Capital boosted their price target on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Citigroup raised their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their target price on shares of Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Truist Financial lifted their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $57.30.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.