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 company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the completion of the transaction, the president now owns 16,010 shares in the company, valued at $808,505. This trade represents a 43.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Core & Main Trading Up 0.4 %

NYSE:CNM opened at $54.16 on Thursday. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $10.76 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 2.88 and a beta of 1.04. The firm has a fifty day simple moving average of $49.42 and a two-hundred day simple moving average of $47.83.

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 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 company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The business’s revenue was up 11.5% on a year-over-year basis. Analysts expect 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 a number of analyst reports. Wells Fargo & Company increased their price target on Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 price target (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Truist Financial boosted their price objective on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Robert W. Baird upped their price target on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their price target on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.30.

Institutional Investors Weigh In On Core & Main

A number of hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Core & Main during the third quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new position in Core & Main during the third quarter worth $31,000. Wilmington Savings Fund Society FSB bought a new position in shares of Core & Main in the third quarter valued at $49,000. GAMMA Investing LLC grew its holdings in shares of Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after buying an additional 511 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Core & Main during the second quarter valued at about $76,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

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.