Core & Main, Inc. (NYSE:CNM) CFO Sells $2,975,000.00 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 that occurred on Wednesday, May 8th. The stock was sold at an average price of $59.50, for a total transaction of $2,975,000.00. Following the completion of the sale, the chief financial officer now owns 23,898 shares of the company's stock, valued at $1,421,931. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Core & Main Stock Performance

CNM traded up $0.49 on Friday, reaching $60.00. The stock had a trading volume of 1,011,770 shares, compared to its average volume of 2,639,094. The business's 50-day moving average price is $55.32 and its two-hundred day moving average price is $44.33. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. Core & Main, Inc. has a 12-month low of $26.08 and a 12-month high of $60.83. The company has a market cap of $12.08 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 1.81 and a beta of 1.14.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. Core & Main's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS. Sell-side analysts forecast that Core & Main, Inc. will post 2.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CNM. Vanguard Group Inc. raised its position in shares of Core & Main by 35.2% during the 1st quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company's stock worth $1,038,457,000 after purchasing an additional 4,721,510 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Core & Main during the first quarter valued at approximately $52,051,000. Twin Tree Management LP purchased a new position in shares of Core & Main in the first quarter valued at approximately $14,476,000. Lord Abbett & CO. LLC boosted its stake in shares of Core & Main by 60.6% in the first quarter. Lord Abbett & CO. LLC now owns 836,211 shares of the company's stock worth $47,873,000 after acquiring an additional 315,411 shares during the last quarter. Finally, Entropy Technologies LP increased its position in shares of Core & Main by 188.5% during the first quarter. Entropy Technologies LP now owns 83,412 shares of the company's stock worth $4,775,000 after purchasing an additional 54,500 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays raised their price target on Core & Main from $49.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 20th. Truist Financial reiterated a "hold" rating and issued a $38.00 price target on shares of Core & Main in a research note on Wednesday, March 20th. JPMorgan Chase & Co. raised their price target on shares of Core & Main from $38.00 to $54.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 19th. Royal Bank of Canada lifted their price objective on shares of Core & Main from $59.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, March 20th. Finally, Loop Capital increased their price objective on shares of Core & Main from $58.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Core & Main presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.08.

About Core & Main

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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