Core & Main, Inc. (NYSE:CNM) CFO Sells $2,925,500.00 in Stock

Core & Main, Inc. (NYSE:CNM - Get Free Report) CFO Mark R. Witkowski sold 50,000 shares of Core & Main stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $58.51, for a total value of $2,925,500.00. Following the completion of the transaction, the chief financial officer now owns 23,898 shares in the company, valued at $1,398,271.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Core & Main Price Performance

Shares of CNM stock traded up $0.07 during trading hours on Wednesday, hitting $57.29. The company had a trading volume of 1,882,236 shares, compared to its average volume of 3,065,796. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.30 and a current ratio of 2.29. The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 1.88 and a beta of 1.15. Core & Main, Inc. has a 12 month low of $22.31 and a 12 month high of $60.83. The firm's fifty day moving average is $49.79 and its 200 day moving average is $40.38.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.34. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.43 billion. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The business's revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $0.31 earnings per share. On average, sell-side analysts predict that Core & Main, Inc. will post 2.59 EPS for the current fiscal year.

Institutional Trading of Core & Main

Hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in shares of Core & Main in the fourth quarter valued at about $108,023,000. Vanguard Group Inc. increased its position in Core & Main by 41.4% in the 4th quarter. Vanguard Group Inc. now owns 13,417,484 shares of the company's stock valued at $542,201,000 after acquiring an additional 3,926,588 shares in the last quarter. Morgan Stanley raised its stake in shares of Core & Main by 423.6% in the fourth quarter. Morgan Stanley now owns 3,526,994 shares of the company's stock worth $68,106,000 after acquiring an additional 2,853,438 shares during the last quarter. FMR LLC lifted its position in shares of Core & Main by 51.1% during the third quarter. FMR LLC now owns 7,865,719 shares of the company's stock worth $226,926,000 after purchasing an additional 2,660,097 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of Core & Main during the fourth quarter valued at approximately $91,771,000. Institutional investors and hedge funds own 94.19% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on CNM. The Goldman Sachs Group lifted their price target on Core & Main from $42.00 to $61.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 26th. Barclays upped their target price on shares of Core & Main from $49.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, March 20th. Royal Bank of Canada raised their price target on shares of Core & Main from $59.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 20th. Truist Financial reaffirmed a "hold" rating and set a $38.00 price objective on shares of Core & Main in a research report on Wednesday, March 20th. Finally, Citigroup downgraded Core & Main from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $63.00 to $64.00 in a research report on Friday, April 5th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Core & Main has a consensus rating of "Moderate Buy" and an average price target of $50.08.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.

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