Stephen O. Leclair Sells 80,028 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM - Get Free Report) insider Stephen O. Leclair sold 80,028 shares of Core & Main stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $62.27, for a total value of $4,983,343.56. Following the transaction, the insider owned 70,736 shares in the company, valued at approximately $4,404,730.72. This represents a 53.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Core & Main Trading Up 0.7%

NYSE:CNM traded up $0.46 during trading hours on Tuesday, reaching $62.38. 1,342,978 shares of the stock were exchanged, compared to its average volume of 2,279,800. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.71. The business has a 50-day moving average of $56.03 and a two-hundred day moving average of $52.85. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 1.84 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 posted its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The firm 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%. Core & Main's revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. On average, equities analysts predict that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CNM shares. Citigroup lifted their target price on shares of Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Loop Capital raised their price target on shares of Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Royal Bank Of Canada upped their price objective on Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Wells Fargo & Company raised their target price on Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Core & Main currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

Institutional Trading of Core & Main

Several hedge funds have recently made changes to their positions in CNM. Parallel Advisors LLC grew its holdings in shares of Core & Main by 447.1% in the first quarter. Parallel Advisors LLC now owns 651 shares of the company's stock valued at $31,000 after purchasing an additional 532 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock valued at $35,000 after buying an additional 524 shares during the period. Rossby Financial LCC acquired a new position in shares of Core & Main in the first quarter worth $37,000. CWM LLC increased its position in shares of Core & Main by 34.0% during the first quarter. CWM LLC now owns 839 shares of the company's stock worth $41,000 after acquiring an additional 213 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Core & Main by 1,491.8% in the first quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock valued at $56,000 after acquiring an additional 1,089 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company's stock.

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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