Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles Sells 12,500 Shares

Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles sold 12,500 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.50, for a total value of $631,250.00. Following the sale, the president now directly owns 16,010 shares in the company, valued at approximately $808,505. The trade was a 43.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Core & Main Stock Up 4.2 %

Shares of NYSE:CNM traded up $2.19 during mid-day trading on Tuesday, hitting $53.94. 2,098,781 shares of the company traded hands, compared to its average volume of 1,603,635. The firm has a market cap of $10.72 billion, a P/E ratio of 25.32, a PEG ratio of 2.95 and a beta of 1.02. 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 52-week low of $37.22 and a 52-week high of $62.15. The firm’s 50 day simple moving average is $49.42 and its 200 day simple moving average is $47.83.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The business had revenue of $2.04 billion for 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%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. On average, equities analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Institutional Investors Weigh In On Core & Main

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. The Goldman Sachs Group raised their price target on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. 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 research note 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 research note on Wednesday, December 4th. 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 note on Wednesday, December 4th. Finally, Barclays lifted their price objective on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One investment 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.30.

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.