Mark G. Whittenburg Sells 1,974 Shares of Core & Main, Inc. (NYSE:CNM) Stock

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

Core & Main Stock Performance

Shares of CNM stock opened at $55.21 on Monday. The stock has a fifty day moving average price of $49.97 and a 200 day moving average price of $47.96. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The stock has a market cap of $10.97 billion, a PE ratio of 25.92, a P/E/G ratio of 2.79 and a beta of 1.02. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 EPS. Sell-side analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Institutional Trading of Core & Main

Large investors have recently modified their holdings of the business. Eagle Asset Management Inc. raised its position in shares of Core & Main by 2.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock worth $74,979,000 after purchasing an additional 44,282 shares during the last quarter. Quest Partners LLC raised its holdings in shares of Core & Main by 1,195,600.0% in the third quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock worth $531,000 after acquiring an additional 11,956 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Core & Main in the third quarter valued at $774,000. South Street Advisors LLC boosted its stake in shares of Core & Main by 36.0% during the third quarter. South Street Advisors LLC now owns 234,144 shares of the company’s stock valued at $10,396,000 after acquiring an additional 61,962 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC increased its position in Core & Main by 23.3% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company’s stock worth $3,120,000 after purchasing an additional 13,263 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.