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

Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles sold 25,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.48, for a total value of $1,362,000.00. Following the transaction, the president now owns 16,010 shares in the company, valued at approximately $872,224.80. This represents a 60.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Core & Main Stock Down 1.5 %

Shares of CNM stock opened at $54.00 on Thursday. The stock’s fifty day moving average price is $53.41 and its 200 day moving average price is $48.58. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The company has a market cap of $10.73 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 2.75 and a beta of 1.03. 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 issued 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 analyst estimates 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 quarter in the previous year, the firm earned $0.65 earnings per share. On average, research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CNM has been the topic of a number of research reports. Loop Capital raised their target price on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Robert W. Baird lifted their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and set a $62.00 target price (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price target on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, Truist Financial upped their price objective on Core & Main from $38.00 to $56.00 and gave the stock a “hold” 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 issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CNM. US Bancorp DE increased its position in shares of Core & Main by 12.3% in the 4th quarter. US Bancorp DE now owns 1,795 shares of the company’s stock valued at $91,000 after acquiring an additional 197 shares during the period. Fifth Third Wealth Advisors LLC grew its stake in Core & Main by 4.8% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock valued at $286,000 after purchasing an additional 258 shares during the last quarter. Avior Wealth Management LLC raised its stake in shares of Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after purchasing an additional 271 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Core & Main by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 5,871 shares of the company’s stock worth $299,000 after purchasing an additional 287 shares during the last quarter. Finally, Andina Capital Management LLC lifted its holdings in shares of Core & Main by 3.5% during the third quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock worth $387,000 after purchasing an additional 294 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

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.