Core & Main, Inc. (NYSE:CNM - Get Free Report) CEO Mark R. Witkowski sold 100,000 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The shares were 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 directly owned 35,847 shares in the company, valued at approximately $2,195,987.22. The trade was a 73.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Core & Main Stock Performance
CNM traded up $0.17 during trading on Thursday, reaching $65.17. 1,228,178 shares of the company were exchanged, compared to its average volume of 1,817,001. The stock has a market cap of $12.85 billion, a P/E ratio of 30.31, a PEG ratio of 1.92 and a beta of 1.04. The firm has a 50 day moving average of $58.59 and a 200 day moving average of $53.83. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $65.88.
Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, hitting 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 return on equity of 23.55% and a net margin of 5.47%. The firm's revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 EPS. On average, sell-side analysts forecast 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 stock. Cambridge Investment Research Advisors Inc. boosted its position in Core & Main by 3.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock worth $343,000 after acquiring an additional 229 shares during the period. Truist Financial Corp boosted its position in Core & Main by 21.2% during the 1st quarter. Truist Financial Corp now owns 705,339 shares of the company's stock worth $34,075,000 after acquiring an additional 123,494 shares during the period. Perpetual Ltd boosted its position in Core & Main by 12.4% during the 1st quarter. Perpetual Ltd now owns 223,671 shares of the company's stock worth $10,806,000 after acquiring an additional 24,610 shares during the period. New York State Teachers Retirement System boosted its position in Core & Main by 53.7% during the 1st quarter. New York State Teachers Retirement System now owns 86,679 shares of the company's stock worth $4,187,000 after acquiring an additional 30,286 shares during the period. Finally, KBC Group NV boosted its position in Core & Main by 5.3% during the 1st quarter. KBC Group NV now owns 1,725,810 shares of the company's stock worth $83,374,000 after acquiring an additional 86,672 shares during the period. 94.19% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on CNM. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target for the company. Loop Capital boosted their price target on Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Citigroup boosted their price target on Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. JPMorgan Chase & Co. boosted their price target on Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Finally, Wells Fargo & Company boosted their price target on Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. One investment 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $60.00.
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Core & Main Company Profile
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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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