Core & Main (NYSE:CNM) Shares Gap Down – Here’s What Happened

Core & Main, Inc. (NYSE:CNM)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $46.69, but opened at $45.00. Core & Main shares last traded at $46.43, with a volume of 222,102 shares changing hands.

Analyst Ratings Changes

CNM has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their target price on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Robert W. Baird raised their price target on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Loop Capital upped their price objective on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their price objective on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. One research 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $57.60.

Core & Main Trading Up 0.4 %

The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The business’s 50-day moving average is $52.95 and its 200 day moving average is $48.62. The firm has a market capitalization of $9.31 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05.

Insider Transactions at Core & Main

In related news, EVP John R. Schaller sold 60,452 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.57, for a total value of $3,057,057.64. Following the completion of the transaction, the executive vice president now owns 17,898 shares of the company’s stock, valued at $905,101.86. The trade was a 77.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the sale, the general counsel now owns 7,667 shares in the company, valued at $387,106.83. The trade was a 86.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,426 shares of company stock valued at $8,359,825. 3.49% of the stock is currently owned by company insiders.

Institutional Trading of Core & Main

A number of institutional investors and hedge funds have recently made changes to their positions in CNM. Ashton Thomas Securities LLC bought a new stake in Core & Main during the third quarter worth $26,000. Avior Wealth Management LLC raised its holdings in shares of Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after buying an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Core & Main during the 3rd quarter worth $49,000. UMB Bank n.a. boosted its stake in Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after buying an additional 684 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in Core & Main by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock valued at $61,000 after acquiring an additional 278 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

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.