Insider Selling: Core & Main (NYSE:CNM) CFO Sells 5,000 Shares of Stock

Key Points

• CFO Robyn Bradbury sold 5,000 shares on April 17 at an average price of $52.54 for proceeds of $262,700 under a pre-arranged Rule 10b5-1 plan, reducing her stake by 28.57% to 12,500 shares valued at $656,750.
• Shares traded down 0.5% to $49.76 on volume of about 3.29 million (above average), trading below its 50- and 200-day moving averages (roughly $52).
• Institutional ownership is 94.19% with several managers recently increasing positions, and analysts hold a consensus "Moderate Buy" rating with an average target price of $61.64.

Core & Main, Inc. (NYSE:CNM - Get Free Report) CFO Robyn Bradbury sold 5,000 shares of the company's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $52.54, for a total transaction of $262,700.00. Following the completion of the transaction, the chief financial officer directly owned 12,500 shares in the company, valued at $656,750. The trade was a 28.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Core & Main Trading Down 0.5%

NYSE CNM traded down $0.24 during trading hours on Tuesday, reaching $49.76. The company had a trading volume of 3,293,996 shares, compared to its average volume of 2,397,279. The stock has a 50-day moving average of $52.10 and a 200 day moving average of $52.49. Core & Main, Inc. has a 1-year low of $43.96 and a 1-year high of $67.18. The company has a current ratio of 2.63, a quick ratio of 1.51 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $9.69 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 1.83 and a beta of 1.00.

Institutional Trading of Core & Main

Large investors have recently made changes to their positions in the company. Wolverine Asset Management LLC purchased a new stake in shares of Core & Main during the third quarter worth approximately $1,130,000. Jennison Associates LLC increased its stake in shares of Core & Main by 41.7% during the third quarter. Jennison Associates LLC now owns 2,087,166 shares of the company's stock worth $112,352,000 after buying an additional 614,595 shares during the period. Pembroke Management LTD increased its stake in shares of Core & Main by 26.6% during the third quarter. Pembroke Management LTD now owns 909,216 shares of the company's stock worth $48,943,000 after buying an additional 190,879 shares during the period. Procyon Advisors LLC purchased a new stake in shares of Core & Main during the fourth quarter worth approximately $1,779,000. Finally, SG Americas Securities LLC increased its stake in shares of Core & Main by 286.4% during the third quarter. SG Americas Securities LLC now owns 122,806 shares of the company's stock worth $6,611,000 after buying an additional 91,026 shares during the period. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CNM shares. Barclays cut their price target on shares of Core & Main from $63.00 to $62.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 25th. Zacks Research lowered shares of Core & Main from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Core & Main from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, March 25th. Wells Fargo & Company boosted their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 14th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $63.00 price target on shares of Core & Main in a research note on Friday, January 9th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Core & Main currently has an average rating of "Moderate Buy" and an average target price of $61.64.

About Core & Main

Core & Main, Inc NYSE: CNM is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company's product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.

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