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 the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $61.98, for a total transaction of $2,726,748.12. Following the completion of the sale, the director owned 4,638 shares of the company's stock, valued at $287,463.24. This trade represents a 90.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Core & Main Stock Up 0.1%

CNM traded up $0.07 during midday trading on Wednesday, reaching $65.10. The company's stock had a trading volume of 935,165 shares, compared to its average volume of 2,285,325. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $66.18. The stock's 50-day moving average is $57.69 and its 200-day moving average is $53.50. The firm has a market capitalization of $12.83 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 1.86 and a beta of 1.04. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.84 billion. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 earnings per share. As a group, research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Institutional Investors Weigh In On Core & Main

A number of hedge funds have recently added to or reduced their stakes in CNM. Lecap Asset Management Ltd. purchased a new position in shares of Core & Main during the 2nd quarter valued at about $587,000. PGGM Investments bought a new stake in Core & Main during the 2nd quarter worth approximately $18,014,000. Truist Financial Corp lifted its holdings in Core & Main by 19.9% during the second 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. Steph & Co. bought a new position in shares of Core & Main in the second quarter worth approximately $53,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Core & Main by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 167,010 shares of the company's stock worth $10,079,000 after purchasing an additional 1,453 shares in the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CNM has been the subject of a number of recent analyst reports. Citigroup upped their price target on shares of Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Loop Capital increased their price objective on shares of Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Wells Fargo & Company increased their price objective on shares of Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Robert W. Baird decreased their price objective on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

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.