Bradford A. Cowles Sells 25,000 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles sold 25,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.48, for a total value of $1,362,000.00. Following the completion of the sale, the president now directly owns 16,010 shares of the company’s stock, valued at $872,224.80. The trade was a 60.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Core & Main Trading Down 1.5 %

Shares of CNM traded down $0.84 during trading hours on Wednesday, hitting $54.00. The stock had a trading volume of 1,378,590 shares, compared to its average volume of 1,539,475. The company’s fifty day simple moving average is $53.43 and its 200 day simple moving average is $48.54. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The firm has a market cap of $10.73 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.75 and a beta of 1.03.

Core & Main (NYSE:CNM) last issued its 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 company had revenue of $2.04 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.65 earnings per share. Equities research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CNM. The Goldman Sachs Group lifted their price objective on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Loop Capital lifted 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. Royal Bank of Canada reissued an “outperform” rating and issued a $62.00 price target (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Citigroup upped their price objective on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Finally, Barclays upped their price objective on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.60.

Hedge Funds Weigh In On Core & Main

Institutional investors and hedge funds have recently modified their holdings of the stock. Landscape Capital Management L.L.C. acquired a new position in Core & Main in the fourth quarter worth about $360,000. ExodusPoint Capital Management LP grew its stake in Core & Main by 2,774.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 308,478 shares of the company’s stock worth $15,705,000 after buying an additional 297,746 shares during the last quarter. Bryce Point Capital LLC bought a new stake in Core & Main during the fourth quarter worth about $1,768,000. Trexquant Investment LP bought a new stake in Core & Main during the fourth quarter worth about $2,172,000. Finally, Geode Capital Management LLC grew its stake in Core & Main by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 3,288,763 shares of the company’s stock worth $167,483,000 after buying an additional 26,799 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

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.