Insider Selling: Core & Main, Inc. (NYSE:CNM) EVP Sells 25,000 Shares of Stock

Core & Main, Inc. (NYSE:CNM) EVP Jeffrey D. Giles sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $54.71, for a total value of $1,367,750.00. Following the completion of the sale, the executive vice president now owns 11,615 shares of the company’s stock, valued at approximately $635,456.65. This represents a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Core & Main Trading Down 1.4 %

Shares of CNM stock opened at $53.88 on Friday. The business’s fifty day moving average price is $45.44 and its 200 day moving average price is $48.15. The firm has a market capitalization of $10.84 billion, a PE ratio of 25.30, a P/E/G ratio of 3.63 and a beta of 1.04. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.34. Core & Main, Inc. has a 1-year low of $35.70 and a 1-year high of $62.15.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the firm posted $0.65 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Core & Main, Inc. will post 2.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Truist Financial upped their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday. Robert W. Baird raised their price target on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday. Loop Capital upped their price objective on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Bank of America cut their price target on Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.10.

Institutional Investors Weigh In On Core & Main

A number of hedge funds and other institutional investors have recently modified their holdings of CNM. Ashton Thomas Securities LLC acquired a new stake in shares of Core & Main in the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new stake in Core & Main in the third quarter valued at $31,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Core & Main in the third quarter valued at $49,000. GAMMA Investing LLC raised its stake in shares of Core & Main by 61.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after buying an additional 511 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Core & Main in the 2nd quarter worth about $76,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

About Core & Main

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.