Insider Selling: Core & Main, Inc. (NYSE:CNM) General Counsel Sells 49,100 Shares of Stock

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 49,100 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $60.03, for a total transaction of $2,947,473.00. Following the transaction, the general counsel now owns 9,691 shares in the company, valued at $581,750.73. The trade was a 83.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Core & Main Stock Down 1.3%

Shares of NYSE:CNM opened at $56.70 on Friday. The company has a market capitalization of $11.22 billion, a PE ratio of 26.62, a P/E/G ratio of 2.61 and a beta of 1.02. 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 $60.38. The firm has a 50 day simple moving average of $52.71 and a 200-day simple moving average of $51.95.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the firm earned $0.49 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CNM has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of Core & Main from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday. Royal Bank of Canada upped their price objective on shares of Core & Main from $60.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a report on Tuesday, April 1st. They issued a “buy” rating and a $60.00 price objective on the stock. Citigroup upped their price objective on shares of Core & Main from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Loop Capital increased their price target on shares of Core & Main from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.55.

Institutional Trading of Core & Main

Several institutional investors and hedge funds have recently bought and sold shares of CNM. Summit Trail Advisors LLC raised its position in Core & Main by 8.6% in the 4th quarter. Summit Trail Advisors LLC now owns 9,690 shares of the company’s stock valued at $493,000 after purchasing an additional 767 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Core & Main by 13.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company’s stock valued at $3,331,000 after purchasing an additional 7,565 shares during the last quarter. Blue Trust Inc. raised its position in Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after purchasing an additional 830 shares during the last quarter. New Mexico Educational Retirement Board raised its position in Core & Main by 10.9% in the 4th quarter. New Mexico Educational Retirement Board now owns 39,600 shares of the company’s stock valued at $2,016,000 after purchasing an additional 3,900 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its position in Core & Main by 9.3% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 8,838 shares of the company’s stock valued at $450,000 after purchasing an additional 752 shares during the last quarter. Hedge funds and other institutional investors 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.