Traders Purchase High Volume of Core & Main Call Options (NYSE:CNM)

Core & Main, Inc. (NYSE:CNM - Get Free Report) was the target of unusually large options trading on Monday. Stock investors acquired 4,374 call options on the stock. This represents an increase of 793% compared to the typical volume of 490 call options.

Core & Main Stock Performance

CNM traded up $0.01 during trading on Monday, hitting $59.69. 922,160 shares of the stock were exchanged, compared to its average volume of 1,921,993. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main has a 1-year low of $37.22 and a 1-year high of $60.32. The stock has a fifty day moving average price of $51.88 and a two-hundred day moving average price of $51.70. The firm has a market capitalization of $11.81 billion, a P/E ratio of 28.02, a PEG ratio of 2.61 and a beta of 1.02.

Core & Main (NYSE:CNM - Get Free Report) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. As a group, sell-side analysts predict that Core & Main will post 2.16 earnings per share for the current year.

Insiders Place Their Bets

In other Core & Main news, EVP John R. Schaller sold 9,794 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $55.00, for a total transaction of $538,670.00. Following the sale, the executive vice president now directly owns 19,689 shares of the company's stock, valued at approximately $1,082,895. This trade represents a 33.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO John Weldon Stephens sold 41,963 shares of Core & Main stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total value of $2,118,292.24. Following the transaction, the chief accounting officer now owns 4,120 shares of the company's stock, valued at approximately $207,977.60. This represents a 91.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,666 shares of company stock worth $5,768,852. 3.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CNM. Raymond James Financial Inc. purchased a new position in Core & Main in the 4th quarter valued at $115,555,000. Norges Bank acquired a new stake in shares of Core & Main in the 4th quarter worth $99,734,000. Impax Asset Management Group plc boosted its holdings in shares of Core & Main by 70.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock valued at $174,661,000 after acquiring an additional 1,416,907 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Core & Main during the first quarter worth about $54,742,000. Finally, Federated Hermes Inc. raised its holdings in Core & Main by 4,757.9% during the fourth quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company's stock worth $57,953,000 after purchasing an additional 1,114,913 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company's stock.

Analysts Set New Price Targets

CNM has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Royal Bank of Canada decreased their price target on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Robert W. Baird decreased their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.91.

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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