Core & Main, Inc. (NYSE:CNM) Director James G. Castellano Sells 43,994 Shares

Core & Main, Inc. (NYSE:CNM - Get Free Report) Director James G. Castellano sold 43,994 shares of Core & Main stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $61.98, for a total transaction of $2,726,748.12. Following the completion of the transaction, the director owned 4,638 shares of the company's stock, valued at $287,463.24. This represents a 90.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Core & Main Price Performance

Shares of Core & Main stock traded up $0.17 on Thursday, hitting $65.17. The company's stock had a trading volume of 1,228,178 shares, compared to its average volume of 1,817,001. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $65.88. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 1.23. The firm has a fifty day moving average price of $58.59 and a 200-day moving average price of $53.83. The company has a market capitalization of $12.85 billion, a P/E ratio of 30.31, a price-to-earnings-growth ratio of 1.92 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.52. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.84 billion. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. On average, equities research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on CNM shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target for the company. Wells Fargo & Company boosted their price objective on shares of Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. boosted their price objective on shares of Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Royal Bank Of Canada boosted their price objective on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Finally, Citigroup boosted their price objective on shares of Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Monument Capital Management lifted its holdings in Core & Main by 5.0% in the 2nd quarter. Monument Capital Management now owns 60,846 shares of the company's stock valued at $3,672,000 after purchasing an additional 2,900 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in Core & Main in the 2nd quarter valued at about $587,000. PGGM Investments purchased a new position in Core & Main in the 2nd quarter valued at about $18,014,000. Truist Financial Corp lifted its holdings in Core & Main by 19.9% in the 2nd quarter. Truist Financial Corp now owns 845,946 shares of the company's stock valued at $51,053,000 after purchasing an additional 140,607 shares in the last quarter. Finally, Steph & Co. purchased a new position in Core & Main in the 2nd quarter valued at about $53,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

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.