Insider Selling: Core & Main, Inc. (NYSE:CNM) CAO Sells $541,546.28 in Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 10,214 shares of the firm’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $53.02, for a total transaction of $541,546.28. Following the transaction, the chief accounting officer now owns 4,120 shares of the company’s stock, valued at approximately $218,442.40. This trade represents a 71.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

John Weldon Stephens also recently made the following trade(s):

• On Wednesday, April 2nd, John Weldon Stephens sold 41,963 shares of Core & Main stock. The stock was sold at an average price of $50.48, for a total transaction of $2,118,292.24.

Core & Main Stock Performance

CNM stock opened at $53.85 on Friday. The stock has a market cap of $10.66 billion, a P/E ratio of 25.28, a P/E/G ratio of 2.61 and a beta of 1.05. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The firm has a 50 day simple moving average of $49.05 and a 200 day simple moving average of $49.96. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The company’s revenue was up 17.9% on a year-over-year basis. Research analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Royal Bank of Canada cut their price objective on Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, March 26th. Robert W. Baird decreased their price target on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a report on Tuesday, April 1st. They set a “buy” rating and a $60.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Citigroup boosted their price target on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.55.

Institutional Investors Weigh In On Core & Main

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its holdings in Core & Main by 447.1% in the first quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock worth $31,000 after buying an additional 532 shares during the last quarter. Rossby Financial LCC acquired a new position in shares of Core & Main during the 1st quarter worth $37,000. Avior Wealth Management LLC raised its holdings in shares of Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after purchasing an additional 271 shares in the last quarter. CWM LLC lifted its stake in shares of Core & Main by 34.0% in the 1st quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after purchasing an additional 213 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after purchasing an additional 684 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

About Core & Main

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.