Insider Selling: Core & Main, Inc. (NYSE:CNM) Director Sells $652,750.00 in Stock

Core & Main, Inc. (NYSE:CNM) Director James G. Castellano sold 12,500 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $52.22, for a total transaction of $652,750.00. Following the transaction, the director now owns 11,769 shares in the company, valued at approximately $614,577.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Core & Main Price Performance

Core & Main stock opened at $51.49 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.14 and a quick ratio of 1.23. The company has a market capitalization of $10.37 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 1.93 and a beta of 1.06. Core & Main, Inc. has a one year low of $27.75 and a one year high of $62.15. The business has a 50 day simple moving average of $52.90 and a 200 day simple moving average of $50.70.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, June 4th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.02). The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.72 billion. Core & Main had a return on equity of 20.01% and a net margin of 5.53%. Core & Main’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. On average, sell-side analysts forecast that Core & Main, Inc. will post 2.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Core & Main

Several hedge funds and other institutional investors have recently modified their holdings of CNM. Vanguard Group Inc. lifted its position in shares of Core & Main by 14.3% during the 3rd quarter. Vanguard Group Inc. now owns 9,490,896 shares of the company’s stock worth $273,812,000 after buying an additional 1,187,700 shares during the period. Public Employees Retirement System of Ohio raised its position in Core & Main by 23.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 48,071 shares of the company’s stock valued at $1,387,000 after purchasing an additional 9,017 shares during the last quarter. SG Americas Securities LLC raised its position in Core & Main by 96.4% in the 4th quarter. SG Americas Securities LLC now owns 41,940 shares of the company’s stock valued at $1,695,000 after purchasing an additional 20,591 shares during the last quarter. Legato Capital Management LLC bought a new position in Core & Main in the 4th quarter valued at $548,000. Finally, CoreCap Advisors LLC acquired a new position in Core & Main during the 4th quarter worth about $366,000. Institutional investors own 94.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup lowered Core & Main from a “buy” rating to a “neutral” rating and boosted their price target for the company from $63.00 to $64.00 in a research note on Friday, April 5th. Royal Bank of Canada restated an “outperform” rating and set a $60.00 price objective on shares of Core & Main in a research report on Wednesday, June 5th. Truist Financial reduced their target price on Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a research report on Wednesday, June 5th. Finally, The Goldman Sachs Group boosted their price target on shares of Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, March 26th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and a consensus price target of $52.90.

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.