Core & Main (NYSE:CNM) CFO Robyn Bradbury Sells 5,000 Shares

Core & Main, Inc. (NYSE:CNM) CFO Robyn Bradbury sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $52.54, for a total transaction of $262,700.00. Following the transaction, the chief financial officer directly owned 12,500 shares in the company, valued at approximately $656,750. The trade was a 28.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Core & Main Stock Performance

Shares of CNM opened at $49.76 on Wednesday. The firm’s 50 day moving average is $51.94 and its 200-day moving average is $52.47. The stock has a market capitalization of $9.69 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.81 and a beta of 1.00. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.63 and a quick ratio of 1.51. Core & Main, Inc. has a 12-month low of $43.96 and a 12-month high of $67.18.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CNM. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Zacks Research cut shares of Core & Main from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Barclays lowered their price objective on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Citigroup lifted their price objective on shares of Core & Main from $56.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and a consensus target price of $61.64.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Wolverine Asset Management LLC purchased a new position in shares of Core & Main in the third quarter worth approximately $1,130,000. Jennison Associates LLC increased its position in shares of Core & Main by 41.7% in the third quarter. Jennison Associates LLC now owns 2,087,166 shares of the company’s stock worth $112,352,000 after acquiring an additional 614,595 shares in the last quarter. Pembroke Management LTD increased its position in shares of Core & Main by 26.6% in the third quarter. Pembroke Management LTD now owns 909,216 shares of the company’s stock worth $48,943,000 after acquiring an additional 190,879 shares in the last quarter. Procyon Advisors LLC purchased a new position in shares of Core & Main in the fourth quarter worth approximately $1,779,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Core & Main by 286.4% during the third quarter. SG Americas Securities LLC now owns 122,806 shares of the company’s stock worth $6,611,000 after purchasing an additional 91,026 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Company Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.