Insider Selling: Core & Main, Inc. (NYSE:CNM) Insider Sells 44,972 Shares of Stock

Core & Main, Inc. (NYSE:CNM - Get Free Report) insider Stephen O. Leclair sold 44,972 shares of Core & Main stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $61.91, for a total value of $2,784,216.52. Following the sale, the insider owned 70,736 shares of the company's stock, valued at approximately $4,379,265.76. This trade represents a 38.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Core & Main Price Performance

Shares of NYSE CNM traded down $0.70 during trading hours on Friday, reaching $61.57. 2,406,812 shares of the stock traded hands, compared to its average volume of 2,293,943. The company has a market capitalization of $12.14 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 1.84 and a beta of 1.04. The company has a quick ratio of 1.10, a current ratio of 1.96 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 $63.25. The company's 50-day simple moving average is $56.75 and its two-hundred day simple moving average is $53.13.

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, hitting analysts' consensus estimates of $0.52. The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.84 billion. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The business's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. Equities research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Loop Capital lifted 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. JPMorgan Chase & Co. lifted their price target on Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Citigroup lifted their price target on Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Wells Fargo & Company lifted their price target on Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $60.00.

Hedge Funds Weigh In On Core & Main

Large investors have recently bought and sold shares of the stock. Truist Financial Corp increased its stake in Core & Main by 21.2% in the 1st 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 during the period. Charles Schwab Investment Management Inc. grew its position in shares of Core & Main by 7.9% in the 4th 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. Perpetual Ltd grew its position in shares of Core & Main by 12.4% in the 1st quarter. Perpetual Ltd now owns 223,671 shares of the company's stock worth $10,806,000 after buying an additional 24,610 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Core & Main by 53.7% in the 1st quarter. New York State Teachers Retirement System now owns 86,679 shares of the company's stock worth $4,187,000 after buying an additional 30,286 shares during the last quarter. Finally, Artemis Investment Management LLP grew its position in shares of Core & Main by 109.6% in the 1st quarter. Artemis Investment Management LLP now owns 1,791,935 shares of the company's stock worth $86,568,000 after buying an additional 936,863 shares during the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

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.