Core & Main, Inc. (NYSE:CNM) EVP Sells $538,670.00 in Stock

Core & Main, Inc. (NYSE:CNM - Get Free Report) EVP John R. Schaller sold 9,794 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $55.00, for a total value of $538,670.00. Following the completion of the transaction, the executive vice president now directly owns 19,689 shares in the company, valued at $1,082,895. This trade represents a 33.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Core & Main Stock Up 10.6%

CNM stock traded up $5.68 during trading on Tuesday, reaching $59.22. 4,330,411 shares of the company traded hands, compared to its average volume of 2,341,159. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $59.31. The business has a 50 day simple moving average of $51.24 and a 200 day simple moving average of $51.34. The company has a market capitalization of $11.72 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 2.61 and a beta of 1.04. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the business earned $0.34 EPS. Core & Main's revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities research analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Core & Main

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNM. Raymond James Financial Inc. purchased a new stake in Core & Main in the fourth quarter valued at about $115,555,000. Norges Bank purchased a new stake in Core & Main in the fourth quarter valued at about $99,734,000. Impax Asset Management Group plc raised its stake in Core & Main by 70.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock valued at $174,661,000 after buying an additional 1,416,907 shares during the last quarter. Jennison Associates LLC purchased a new stake in Core & Main in the first quarter valued at about $54,742,000. Finally, Federated Hermes Inc. raised its stake in Core & Main by 4,757.9% in the fourth quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company's stock valued at $57,953,000 after buying an additional 1,114,913 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on CNM shares. Royal Bank of Canada cut their price objective on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. JPMorgan Chase & Co. increased their price target on Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target on the stock. Robert W. Baird dropped their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company increased their price target on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. One 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. Based on data from MarketBeat, Core & Main presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.91.

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.