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 the stock in a transaction that occurred on 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 transaction, the insider owned 70,736 shares of the company's stock, valued at $4,379,265.76. This represents a 38.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Core & Main Trading Up 0.7%

Shares of NYSE CNM traded up $0.46 during midday trading on Tuesday, hitting $62.38. The company's stock had a trading volume of 1,342,978 shares, compared to its average volume of 2,279,800. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.71. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. The firm has a market cap of $12.30 billion, a P/E ratio of 29.01, a price-to-earnings-growth ratio of 1.84 and a beta of 1.04. The business's 50 day moving average is $56.03 and its two-hundred day moving average is $52.85.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, hitting analysts' consensus estimates of $0.52. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.84 billion. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The business's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 earnings per share. As a group, equities research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Institutional Investors Weigh In On Core & Main

Large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its stake in shares of Core & Main by 447.1% during the first quarter. Parallel Advisors LLC now owns 651 shares of the company's stock valued at $31,000 after buying an additional 532 shares during the period. Rossby Financial LCC bought a new position in Core & Main during the 1st quarter worth about $37,000. Cubist Systematic Strategies LLC increased its position in Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock valued at $35,000 after purchasing an additional 524 shares during the period. CWM LLC raised its holdings in shares of Core & Main by 34.0% in the 1st quarter. CWM LLC now owns 839 shares of the company's stock valued at $41,000 after purchasing an additional 213 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Core & Main by 1,491.8% in the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock worth $56,000 after purchasing an additional 1,089 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CNM has been the subject of several research reports. Royal Bank Of Canada increased their price objective on shares of Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. increased their price target on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Robert W. Baird reduced their price objective on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Loop Capital raised their price objective on Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Finally, Citigroup lifted their target price on Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. One 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. Based on data from MarketBeat.com, Core & Main currently has an average rating of "Moderate Buy" and a consensus target price of $60.00.

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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