Core & Main, Inc. (NYSE:CNM) CAO Sells $2,118,292.24 in Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 41,963 shares of Core & Main stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the completion of the sale, the chief accounting officer now directly owns 4,120 shares in the company, valued at approximately $207,977.60. This represents a 91.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Core & Main Stock Down 2.3 %

CNM opened at $46.12 on Friday. The firm has a market capitalization of $9.13 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a one year low of $37.22 and a one year high of $62.15. The company has a fifty day moving average price of $51.06 and a 200-day moving average price of $49.15. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. Core & Main’s quarterly revenue was up 17.9% compared to the same quarter last year. Equities research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in Core & Main by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company’s stock worth $84,855,000 after buying an additional 122,240 shares in the last quarter. Impax Asset Management Group plc grew its position in Core & Main by 70.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock worth $174,661,000 after acquiring an additional 1,416,907 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Core & Main in the third quarter valued at $774,000. Asset Management One Co. Ltd. raised its position in Core & Main by 13.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company’s stock valued at $3,331,000 after purchasing an additional 7,565 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Core & Main by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock worth $927,580,000 after purchasing an additional 221,970 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CNM has been the topic of several research analyst reports. Royal Bank of Canada dropped their price objective on Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a research note on Tuesday, April 1st. They set a “buy” rating and a $60.00 price target for the company. Robert W. Baird lowered their price objective on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. Citigroup increased their target price on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company boosted their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.55.

About Core & Main

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.