Core & Main, Inc. (NYSE:CNM) General Counsel Sells $109,142.46 in Stock

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 1,974 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total transaction of $109,142.46. Following the sale, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. This represents a 20.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Core & Main Price Performance

Core & Main stock opened at $55.21 on Monday. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The company has a 50-day moving average price of $49.97 and a 200 day moving average price of $47.96. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The stock has a market cap of $10.97 billion, a P/E ratio of 25.92, a PEG ratio of 2.79 and a beta of 1.02.

Core & Main (NYSE:CNM) last released 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. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the prior year, the business posted $0.65 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. Sell-side analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analyst Ratings Changes

CNM has been the subject of several research reports. Wells Fargo & Company boosted their price objective on Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Citigroup boosted their price target on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. The Goldman Sachs Group raised their price objective on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Barclays upped their target price on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $62.00 price target (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and an average price target of $57.30.

Hedge Funds Weigh In On Core & Main

Institutional investors and hedge funds have recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Core & Main during the 3rd quarter worth about $26,000. ORG Wealth Partners LLC acquired a new stake in shares of Core & Main during the 3rd quarter worth about $31,000. Avior Wealth Management LLC raised its position 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 acquiring an additional 271 shares in the last quarter. UMB Bank n.a. lifted its stake in Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after purchasing an additional 684 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Core & Main in the third quarter valued at approximately $49,000. Institutional investors and hedge funds 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.