Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg Sells 1,974 Shares

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 1,974 shares of Core & Main stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total transaction of $109,142.46. Following the completion of the sale, the general counsel now owns 7,667 shares in the company, valued at approximately $423,908.43. This represents a 20.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Core & Main Price Performance

Shares of NYSE CNM opened at $55.21 on Friday. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The firm has a 50-day moving average of $49.97 and a two-hundred day moving average of $47.97. The company has a market capitalization of $10.97 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 2.79 and a beta of 1.02.

Core & Main (NYSE:CNM) last released 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 during the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 earnings per share. As a group, analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Core & Main

Several large investors have recently modified their holdings of the stock. Select Equity Group L.P. lifted its holdings in shares of Core & Main by 0.3% during the second quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock valued at $754,986,000 after purchasing an additional 39,475 shares during the last quarter. FMR LLC lifted its stake in Core & Main by 28.0% during the third quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after buying an additional 1,903,280 shares in the last quarter. State Street Corp boosted its holdings in shares of Core & Main by 9.7% in the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock worth $245,177,000 after buying an additional 489,224 shares during the period. Pacer Advisors Inc. increased its position in shares of Core & Main by 1.0% in the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock worth $188,710,000 after acquiring an additional 41,521 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its position in shares of Core & Main by 39.9% in the third quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock worth $167,029,000 after acquiring an additional 1,073,451 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 price target (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Loop Capital boosted their price target on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group increased 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. Barclays upped their price objective on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird raised their target price on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $57.30.

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.