Mark G. Whittenburg Sells 49,100 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM - Get Free Report) General Counsel Mark G. Whittenburg sold 49,100 shares of the business's stock in a transaction dated 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 transaction, the general counsel now owns 9,691 shares in the company, valued at approximately $581,750.73. This trade represents a 83.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Core & Main Trading Down 0.7%

Shares of CNM stock traded down $0.37 during trading hours on Friday, reaching $56.35. The company had a trading volume of 603,455 shares, compared to its average volume of 1,981,595. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year 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. The firm has a market cap of $11.15 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 2.61 and a beta of 1.02. The company has a 50 day moving average of $52.71 and a 200 day moving average of $51.95.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Citigroup raised their target price on Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 target price on the stock. Loop Capital increased their price target on shares of Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Royal Bank of Canada raised their price target on shares of Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.55.

Institutional Trading of Core & Main

A number of hedge funds have recently modified their holdings of the company. Parallel Advisors LLC increased its stake in Core & Main by 447.1% in the first quarter. Parallel Advisors LLC now owns 651 shares of the company's stock valued at $31,000 after purchasing an additional 532 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock valued at $35,000 after buying an additional 524 shares during the period. Rossby Financial LCC bought a new stake in shares of Core & Main in the 1st quarter valued at $37,000. CWM LLC raised its stake 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 buying an additional 213 shares during the period. Finally, Versant Capital Management Inc raised its stake 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 buying an additional 1,089 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

About Core & Main

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.