John Weldon Stephens Sells 41,963 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 41,963 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total value of $2,118,292.24. Following the transaction, the chief accounting officer now owns 4,120 shares in the company, valued at $207,977.60. The trade was a 91.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Core & Main Stock Down 2.3 %

Shares of NYSE:CNM opened at $46.12 on Friday. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 2.61 and a beta of 1.05. The business’s 50 day moving average is $51.06 and its 200 day moving average is $49.10. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the company earned $0.34 EPS. The business’s revenue was up 17.9% compared to the same quarter last year. On average, sell-side analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CNM has been the topic of several research analyst reports. Wells Fargo & Company increased their target price on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Royal Bank of Canada cut their price objective on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 26th. Robert W. Baird decreased their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, March 26th. Citigroup increased their price target on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a report on Tuesday. They set a “buy” rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $57.55.

Hedge Funds Weigh In On Core & Main

Several hedge funds have recently modified their holdings of CNM. Avior Wealth Management LLC grew its holdings in shares of Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after acquiring an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Core & Main in the 3rd quarter valued at $49,000. UMB Bank n.a. increased its position in shares of Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after purchasing an additional 684 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Core & Main by 1,491.8% during the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company’s stock worth $56,000 after purchasing an additional 1,089 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock worth $61,000 after buying an additional 278 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

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.