Core & Main, Inc. (NYSE:CNM) Insider Sells $4,983,343.56 in Stock

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

Core & Main Price Performance

NYSE CNM traded down $0.70 during trading on Friday, hitting $61.57. 2,406,812 shares of the company's stock were exchanged, compared to its average volume of 2,293,943. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. The company has a market cap of $12.14 billion, a PE ratio of 28.64, a P/E/G ratio of 1.84 and a beta of 1.04. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $63.25. The stock's 50 day moving average price is $56.75 and its two-hundred day moving average price is $53.13.

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 (EPS) for the quarter, meeting the consensus estimate of $0.52. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The firm's revenue was up 9.8% compared to the same quarter last year. Research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

CNM has been the subject of several analyst reports. Loop Capital raised their target price on shares of Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. lifted their price objective on shares of Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a research report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 target price for the company. Wells Fargo & Company boosted their target price on shares of Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Citigroup boosted their target price on shares of Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Core & Main has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

Hedge Funds Weigh In On Core & Main

A number of institutional investors have recently modified their holdings of CNM. Parallel Advisors LLC raised its position in shares of Core & Main by 447.1% during the first quarter. Parallel Advisors LLC now owns 651 shares of the company's stock worth $31,000 after purchasing an additional 532 shares during the period. Cubist Systematic Strategies LLC raised 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 last quarter. Rossby Financial LCC purchased a new stake in Core & Main in the 1st quarter valued at $37,000. CWM LLC raised its position in Core & Main by 34.0% in the 1st quarter. CWM LLC now owns 839 shares of the company's stock valued at $41,000 after buying an additional 213 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Core & Main by 1,491.8% in the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock valued at $56,000 after buying an additional 1,089 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

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.