John R. Schaller Sells 21,868 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the sale, the executive vice president now owns 16,452 shares in the company, valued at approximately $770,282.64. This represents a 57.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Core & Main Price Performance

Shares of CNM opened at $47.47 on Thursday. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The firm’s 50-day simple moving average is $52.80 and its two-hundred day simple moving average is $48.56. The stock has a market cap of $9.43 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14.

Institutional Trading of Core & Main

A number of hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in Core & Main during the fourth quarter valued at $115,555,000. PointState Capital LP bought a new position in shares of Core & Main during the third quarter valued at $100,013,000. Norges Bank purchased a new position in shares of Core & Main in the 4th quarter worth about $99,734,000. FMR LLC raised its position in shares of Core & Main by 28.0% in the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after purchasing an additional 1,903,280 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its stake in Core & Main by 373.0% in the 3rd quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company’s stock worth $89,416,000 after purchasing an additional 1,588,117 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on CNM shares. Wells Fargo & Company raised their price target on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Loop Capital raised their target price on shares of 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 boosted their price target 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. Robert W. Baird raised their price objective on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Barclays lifted their price objective on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.60.

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.