Insider Selling: Core & Main, Inc. (NYSE:CNM) CEO Sells 100,000 Shares of Stock

Core & Main, Inc. (NYSE:CNM - Get Free Report) CEO Mark R. Witkowski sold 100,000 shares of the stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the transaction, the chief executive officer owned 35,847 shares in the company, valued at approximately $2,195,987.22. The trade was a 73.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Core & Main Price Performance

Shares of Core & Main stock traded up $0.95 during trading on Monday, reaching $62.95. 2,576,280 shares of the stock traded hands, compared to its average volume of 2,288,998. The company has a market capitalization of $12.41 billion, a price-to-earnings ratio of 29.28, a P/E/G ratio of 1.83 and a beta of 1.04. The business has a fifty day simple moving average of $57.69 and a two-hundred day simple moving average of $53.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.96 and a quick ratio of 1.10. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $63.83.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, meeting analysts' consensus estimates of $0.52. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 EPS. Sell-side analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

CNM has been the topic of a number of recent research reports. Citigroup raised their target price on Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Robert W. Baird dropped their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. raised their target price on Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Royal Bank Of Canada raised their target price on Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Finally, Loop Capital increased their price target on Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Core & Main currently has an average rating of "Moderate Buy" and an average target price of $60.00.

Hedge Funds Weigh In On Core & Main

Large investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. increased its position in shares of Core & Main by 3.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock worth $343,000 after purchasing an additional 229 shares in the last quarter. Truist Financial Corp increased its position in shares of Core & Main by 21.2% during the first quarter. Truist Financial Corp now owns 705,339 shares of the company's stock worth $34,075,000 after purchasing an additional 123,494 shares in the last quarter. Perpetual Ltd grew its holdings in shares of Core & Main by 12.4% during the first quarter. Perpetual Ltd now owns 223,671 shares of the company's stock valued at $10,806,000 after buying an additional 24,610 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of Core & Main by 53.7% during the first quarter. New York State Teachers Retirement System now owns 86,679 shares of the company's stock valued at $4,187,000 after buying an additional 30,286 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Core & Main by 5.3% during the first quarter. KBC Group NV now owns 1,725,810 shares of the company's stock valued at $83,374,000 after buying an additional 86,672 shares during 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.

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