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

Core & Main, Inc. (NYSE:CNM - Get Free Report) was the recipient of some unusual options trading on Monday. Traders bought 4,374 call options on the stock. This is an increase of approximately 793% compared to the average daily volume of 490 call options.

Analyst Ratings Changes

A number of analysts have commented on CNM shares. JPMorgan Chase & Co. increased their price target on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 target price for the company. Royal Bank of Canada boosted their price target on Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday. Loop Capital upped their price objective on Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Robert W. Baird reduced their target price on 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $59.55.

Core & Main Stock Performance

Shares of CNM traded down $0.73 during midday trading on Thursday, reaching $56.70. 2,297,457 shares of the stock were exchanged, compared to its average volume of 2,294,159. The stock's 50 day simple moving average is $52.49 and its 200 day simple moving average is $51.88. The company has a market cap of $11.22 billion, a P/E ratio of 26.62, a PEG ratio of 2.61 and a beta of 1.02. Core & Main has a twelve month low of $37.22 and a twelve month high of $60.38. 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 (NYSE:CNM - Get Free Report) last announced its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the previous year, the firm earned $0.49 EPS. The company's quarterly revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Core & Main will post 2.16 earnings per share for the current year.

Insider Buying and Selling at Core & Main

In other Core & Main news, CAO John Weldon Stephens sold 41,963 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the transaction, the chief accounting officer now owns 4,120 shares in the company, valued at approximately $207,977.60. This trade represents a 91.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Mark G. Whittenburg sold 49,100 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $60.03, for a total transaction of $2,947,473.00. Following the completion of the sale, the general counsel now owns 9,691 shares of the company's stock, valued at approximately $581,750.73. This represents a 83.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 157,666 shares of company stock valued at $8,770,352 in the last quarter. Corporate insiders own 3.53% of the company's stock.

Institutional Trading of Core & Main

Institutional investors have recently added to or reduced their stakes in the stock. Enhancing Capital LLC increased its position in Core & Main by 0.6% in the 1st quarter. Enhancing Capital LLC now owns 31,846 shares of the company's stock valued at $1,538,000 after buying an additional 196 shares in the last quarter. US Bancorp DE grew its stake in Core & Main by 12.3% in the fourth quarter. US Bancorp DE now owns 1,795 shares of the company's stock valued at $91,000 after acquiring an additional 197 shares during the period. CWM LLC increased its holdings in shares of Core & Main by 34.0% during the first quarter. CWM LLC now owns 839 shares of the company's stock valued at $41,000 after acquiring an additional 213 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Core & Main by 3.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock worth $343,000 after purchasing an additional 229 shares during the period. Finally, Crossmark Global Holdings Inc. raised its position in shares of Core & Main by 2.6% during the first quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company's stock worth $527,000 after purchasing an additional 272 shares during the period. 94.19% of the stock is currently owned by institutional investors.

About Core & Main

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.