Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles Sells 12,500 Shares

Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles sold 12,500 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $54.07, for a total transaction of $675,875.00. Following the completion of the sale, the president now directly owns 16,010 shares of the company’s stock, valued at $865,660.70. This represents a 43.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Core & Main Trading Up 0.4 %

CNM stock opened at $54.16 on Thursday. The firm has a fifty day moving average price of $49.42 and a 200 day moving average price of $47.83. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The firm has a market cap of $10.76 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 2.88 and a beta of 1.04. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the company posted $0.65 EPS. Sell-side analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CNM. Citigroup increased their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company raised their price target on Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Loop Capital upped their price objective on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Barclays lifted their target price on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Robert W. Baird increased their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.30.

Institutional Investors Weigh In On Core & Main

Large investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new stake in shares of Core & Main in the 3rd quarter valued at approximately $26,000. ORG Wealth Partners LLC bought a new stake in Core & Main in the third quarter worth $31,000. Wilmington Savings Fund Society FSB purchased a new position in Core & Main during the third quarter worth $49,000. GAMMA Investing LLC increased its position in Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after acquiring an additional 511 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Core & Main in the second quarter valued at $76,000. 94.19% of the stock is owned by institutional investors.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.