Orvin T. Kimbrough Sells 23,962 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM - Get Free Report) Director Orvin T. Kimbrough sold 23,962 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $61.77, for a total transaction of $1,480,132.74. Following the sale, the director directly owned 13,958 shares in the company, valued at approximately $862,185.66. The trade was a 63.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Core & Main Stock Up 1.5%

NYSE:CNM traded up $0.95 during mid-day trading on Monday, reaching $62.95. The company's stock had a trading volume of 2,576,280 shares, compared to its average volume of 2,288,998. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $63.83. The stock has a fifty day moving average of $57.69 and a 200-day moving average of $53.50. The firm has a market capitalization of $12.41 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 1.83 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 (NYSE:CNM - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, hitting analysts' consensus estimates of $0.52. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Institutional Trading of Core & Main

A number of hedge funds have recently added to or reduced their stakes in CNM. Parallel Advisors LLC increased its holdings 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 acquiring an additional 532 shares in the last quarter. Bfsg LLC increased its holdings in Core & Main by 56.4% in the 2nd quarter. Bfsg LLC now owns 560 shares of the company's stock worth $34,000 after buying an additional 202 shares during the period. Cubist Systematic Strategies LLC increased its holdings in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock worth $35,000 after buying an additional 524 shares during the period. Rossby Financial LCC acquired a new position in Core & Main in the 1st quarter worth approximately $37,000. Finally, CWM LLC increased its holdings in Core & Main by 34.0% in the 1st quarter. CWM LLC now owns 839 shares of the company's stock worth $41,000 after buying an additional 213 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CNM. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price objective on the stock. Royal Bank Of Canada lifted 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. Wells Fargo & Company boosted their price target on shares of Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Loop Capital boosted their price target on shares of Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Finally, Robert W. Baird dropped their price objective on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently 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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