Core & Main, Inc. (NYSE:CNM) Director Sells $828,750.00 in Stock

Core & Main, Inc. (NYSE:CNM) Director Margaret Newman sold 15,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $55.25, for a total value of $828,750.00. Following the completion of the sale, the director now owns 11,769 shares of the company’s stock, valued at approximately $650,237.25. This trade represents a 56.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Core & Main Stock Down 1.1 %

Shares of CNM stock traded down $0.63 during trading on Thursday, hitting $54.62. 2,895,847 shares of the company were exchanged, compared to its average volume of 2,604,923. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 25.64, 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 quick ratio of 1.34 and a current ratio of 2.14. The business’s 50-day simple moving average is $45.25 and its 200 day simple moving average is $48.11. Core & Main, Inc. has a twelve month low of $35.70 and a twelve month high of $62.15.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 5.71% and a return on equity of 24.71%. Core & Main’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 earnings per share. As a group, analysts forecast that Core & Main, Inc. will post 2.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CNM shares. The Goldman Sachs Group boosted their target price on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a research report on Wednesday. Bank of America reduced their price objective 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. Wells Fargo & Company upped their target price on Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Robert W. Baird lifted 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.10.

Institutional Investors Weigh In On Core & Main

Institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Core & Main during the third quarter valued at approximately $26,000. ORG Wealth Partners LLC acquired a new position in shares of Core & Main during the 3rd quarter worth $31,000. Wilmington Savings Fund Society FSB bought a new position in shares of Core & Main during the 3rd quarter valued at $49,000. GAMMA Investing LLC lifted its stake 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 purchasing an additional 511 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new stake in Core & Main in the second quarter worth $76,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Company Profile

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.