Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles Sells 12,500 Shares

Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $54.07, for a total transaction of $675,875.00. Following the transaction, the president now directly owns 16,010 shares of the company’s stock, valued at $865,660.70. This represents a 43.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Core & Main Stock Performance

NYSE CNM opened at $53.94 on Wednesday. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 2.95 and a beta of 1.02. The stock has a 50-day moving average of $49.42 and a 200 day moving average of $47.83. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.99 billion. During the same period in the prior year, the company posted $0.65 EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. Sell-side analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Core & Main

A number of large investors have recently added to or reduced their stakes in the stock. Fifth Third Wealth Advisors LLC grew its position in shares of Core & Main by 4.8% in the fourth 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 period. Oak Thistle LLC purchased a new position in Core & Main in the 4th quarter valued at about $1,618,000. Nordea Investment Management AB acquired a new stake in Core & Main in the 4th quarter worth about $7,955,000. Everence Capital Management Inc. acquired a new stake in Core & Main in the 4th quarter worth about $287,000. Finally, GAMMA Investing LLC increased its stake in Core & Main by 64.6% during the 4th quarter. GAMMA Investing LLC now owns 2,219 shares of the company’s stock worth $113,000 after buying an additional 871 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Loop Capital boosted their price objective on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group raised their target price on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Finally, Barclays lifted their price target 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 research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.30.

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.