Insider Selling: Core & Main, Inc. (NYSE:CNM) General Counsel Sells 49,100 Shares of Stock

Core & Main, Inc. (NYSE:CNM - Get Free Report) General Counsel Mark G. Whittenburg sold 49,100 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $60.03, for a total transaction of $2,947,473.00. Following the completion of the sale, the general counsel now owns 9,691 shares in the company, valued at $581,750.73. This represents a 83.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Core & Main Trading Down 1.2%

Shares of NYSE:CNM traded down $0.67 during mid-day trading on Friday, reaching $56.05. 1,750,816 shares of the company's stock were exchanged, compared to its average volume of 2,291,399. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.61 and a beta of 1.02. The business's fifty day moving average price is $52.95 and its 200-day moving average price is $52.01. 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, Inc. has a twelve month low of $37.22 and a twelve month high of $60.38.

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

Hedge Funds Weigh In On Core & Main

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in Core & Main by 7.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company's stock worth $84,855,000 after buying an additional 122,240 shares during the last quarter. Impax Asset Management Group plc raised its stake in Core & Main by 70.4% during the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock worth $174,661,000 after buying an additional 1,416,907 shares during the last quarter. Federated Hermes Inc. raised its stake in Core & Main by 4,757.9% during the fourth quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company's stock worth $57,953,000 after buying an additional 1,114,913 shares during the last quarter. Vanguard Group Inc. raised its stake in Core & Main by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock worth $927,580,000 after buying an additional 221,970 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Core & Main by 13.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company's stock worth $3,331,000 after buying an additional 7,565 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CNM shares. 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 report on Tuesday, May 27th. Robert W. Baird cut their target price on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Citigroup raised their target price on shares of Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research report on Tuesday. Wells Fargo & Company raised their target price on shares of Core & Main from $60.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Loop Capital lifted their price target on shares of Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.55.

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.