Laura K. Schneider Sells 45,695 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM - Get Free Report) insider Laura K. Schneider sold 45,695 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the sale, the insider now owns 12,873 shares in the company, valued at $724,106.25. This represents a 78.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Core & Main Stock Down 0.7%

NYSE:CNM traded down $0.42 on Monday, hitting $59.26. The stock had a trading volume of 4,974,052 shares, compared to its average volume of 2,283,852. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $60.32. The business's fifty day moving average is $51.88 and its 200 day moving average is $51.70. The company has a market cap of $11.73 billion, a PE ratio of 27.82, a P/E/G ratio of 2.61 and a beta of 1.02.

Core & Main (NYSE:CNM - Get Free Report) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 EPS 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 during the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The company's quarterly revenue was up 17.9% compared to the same quarter last year. On average, equities research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Core & Main by 8.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 854,095 shares of the company's stock worth $41,261,000 after acquiring an additional 67,351 shares during the last quarter. Sciencast Management LP boosted its stake in shares of Core & Main by 130.0% during the first quarter. Sciencast Management LP now owns 48,826 shares of the company's stock valued at $2,359,000 after purchasing an additional 27,599 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Core & Main by 23.1% during the first quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company's stock valued at $14,106,000 after purchasing an additional 54,854 shares during the period. UniSuper Management Pty Ltd bought a new position in shares of Core & Main in the first quarter worth approximately $1,522,000. Finally, Millennium Management LLC increased its stake in shares of Core & Main by 36.9% in the first quarter. Millennium Management LLC now owns 636,956 shares of the company's stock worth $30,771,000 after buying an additional 171,784 shares during the period. Institutional investors own 94.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CNM shares. Robert W. Baird decreased their target price 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. JPMorgan Chase & Co. lifted their price objective on Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Royal Bank of Canada lowered 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $57.91.

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.