Bradford A. Cowles Sells 25,000 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the completion of the transaction, the president now directly owns 16,010 shares of the company’s stock, valued at approximately $872,224.80. This represents a 60.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Core & Main Stock Up 0.1 %

CNM opened at $54.09 on Friday. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The firm has a 50 day moving average price of $53.40 and a 200 day moving average price of $48.62. 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 company has a market cap of $10.75 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 2.75 and a beta of 1.03.

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

Institutional Trading of Core & Main

Several large investors have recently added to or reduced their stakes in CNM. Ashton Thomas Securities LLC purchased a new stake in shares of Core & Main in the third quarter worth about $26,000. ORG Wealth Partners LLC acquired a new position in Core & Main during the 3rd quarter worth approximately $31,000. Avior Wealth Management LLC boosted its holdings in Core & Main by 51.3% in 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 during the period. UMB Bank n.a. grew its position in Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after acquiring an additional 684 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Core & Main during the third quarter valued at approximately $49,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNM has been the subject of several analyst reports. Loop Capital boosted their price target on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Robert W. Baird upped their target price on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $62.00 price target (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Barclays upped their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Citigroup raised their target price on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. One investment 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. Based on data from MarketBeat, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus target price 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.