Mark G. Whittenburg Sells 900 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 900 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $60.03, for a total transaction of $54,027.00. Following the completion of the sale, the general counsel now directly owns 9,691 shares in the company, valued at approximately $581,750.73. This represents a 8.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Core & Main Trading Down 1.1%

NYSE CNM opened at $57.46 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The firm’s fifty day moving average price is $52.49 and its 200 day moving average price is $51.88. The company has a market capitalization of $11.37 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 2.61 and a beta of 1.02. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $60.38.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.84 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $0.49 EPS. On average, sell-side analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CNM. Summit Trail Advisors LLC grew its position in Core & Main by 8.6% during the 4th quarter. Summit Trail Advisors LLC now owns 9,690 shares of the company’s stock worth $493,000 after purchasing an additional 767 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Core & Main by 13.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company’s stock worth $3,331,000 after purchasing an additional 7,565 shares during the last quarter. Blue Trust Inc. grew its position in Core & Main by 187.4% during the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after purchasing an additional 830 shares during the last quarter. New Mexico Educational Retirement Board grew its position in Core & Main by 10.9% during the 4th quarter. New Mexico Educational Retirement Board now owns 39,600 shares of the company’s stock worth $2,016,000 after purchasing an additional 3,900 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its position in Core & Main by 9.3% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 8,838 shares of the company’s stock worth $450,000 after purchasing an additional 752 shares during the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on CNM shares. Robert W. Baird dropped their price objective on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 26th. Royal Bank of Canada increased their price objective on shares of Core & Main from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday. Citigroup reissued a “neutral” rating on shares of Core & Main in a research report on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research report on Tuesday, April 1st. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Loop Capital increased their price objective on shares of Core & Main from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Core & Main currently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

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.