Mark G. Whittenburg Sells 900 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM - Get Free Report) General Counsel Mark G. Whittenburg sold 900 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $60.03, for a total transaction of $54,027.00. Following the transaction, the general counsel now directly owns 9,691 shares in the company, valued at approximately $581,750.73. This represents a 8.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Core & Main Stock Down 1.2%

CNM traded down $0.67 during trading hours on Friday, reaching $56.05. 1,750,816 shares of the stock traded hands, compared to its average volume of 2,291,399. The firm's fifty day simple moving average is $52.95 and its two-hundred day simple moving average is $52.01. The company has a market cap of $11.09 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.61 and a beta of 1.02. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $60.38. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.84 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $0.49 EPS. As a group, analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on CNM shares. JPMorgan Chase & Co. increased their price target on shares of Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Royal Bank of Canada increased their price target on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday. Wells Fargo & Company increased their price target on shares of Core & Main from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday. Robert W. Baird cut their price target on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Finally, Loop Capital increased their price target on shares of Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $59.55.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its holdings in Core & Main by 447.1% during the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock worth $31,000 after acquiring an additional 532 shares in the last quarter. Rossby Financial LCC acquired a new position in Core & Main during the 1st quarter worth $37,000. Cubist Systematic Strategies LLC grew its holdings in Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock worth $35,000 after acquiring an additional 524 shares in the last quarter. CWM LLC grew its holdings in Core & Main by 34.0% during the 1st quarter. CWM LLC now owns 839 shares of the company's stock worth $41,000 after acquiring an additional 213 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in 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 acquiring an additional 1,089 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

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.