Insider Selling: Core & Main, Inc. (NYSE:CNM) EVP Sells $3,057,057.64 in Stock

Core & Main, Inc. (NYSE:CNMGet Free Report) EVP John R. Schaller sold 60,452 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the transaction, the executive vice president now owns 17,898 shares of the company’s stock, valued at $905,101.86. This represents a 77.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Core & Main Trading Up 1.3 %

Shares of CNM opened at $54.83 on Friday. The firm’s 50 day simple moving average is $49.56 and its 200 day simple moving average is $47.87. The company has a market capitalization of $10.89 billion, a P/E ratio of 25.74, a P/E/G ratio of 2.79 and a beta of 1.02. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CNM. American Century Companies Inc. grew its position in Core & Main by 10.3% during the second quarter. American Century Companies Inc. now owns 1,378,181 shares of the company’s stock valued at $67,448,000 after acquiring an additional 128,858 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Core & Main by 55.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 22,494 shares of the company’s stock valued at $1,129,000 after acquiring an additional 8,065 shares during the last quarter. Federated Hermes Inc. grew its position in Core & Main by 33.1% during the second quarter. Federated Hermes Inc. now owns 158,720 shares of the company’s stock valued at $7,768,000 after acquiring an additional 39,446 shares during the last quarter. William Blair Investment Management LLC grew its position in Core & Main by 0.6% during the second quarter. William Blair Investment Management LLC now owns 522,412 shares of the company’s stock valued at $25,567,000 after acquiring an additional 3,097 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Core & Main by 9.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 25,337 shares of the company’s stock worth $1,240,000 after purchasing an additional 2,152 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CNM shares. Truist Financial increased their price target on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Barclays increased their price target 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. The Goldman Sachs Group increased their price target on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Loop Capital increased their price target on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Citigroup increased their price target on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.30.

View Our Latest Report on Core & Main

About Core & Main

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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.

Further Reading

Insider Buying and Selling by Quarter for Core & Main (NYSE:CNM)

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