Mark G. Whittenburg Sells 50,000 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 50,000 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $54.08, for a total transaction of $2,704,000.00. Following the sale, the general counsel now directly owns 12,933 shares in the company, valued at approximately $699,416.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Core & Main Price Performance

CNM stock opened at $56.16 on Thursday. Core & Main, Inc. has a 1 year low of $25.16 and a 1 year high of $60.83. The company has a market cap of $11.31 billion, a P/E ratio of 26.12, a PEG ratio of 1.69 and a beta of 1.15. The firm has a 50-day moving average of $52.65 and a 200 day moving average of $42.34. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. Core & Main’s revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts forecast that Core & Main, Inc. will post 2.59 EPS for the current year.

Hedge Funds Weigh In On Core & Main

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC increased its stake in shares of Core & Main by 74.5% during the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. Rise Advisors LLC bought a new position in shares of Core & Main during the first quarter valued at approximately $27,000. Brown Advisory Inc. increased its stake in shares of Core & Main by 6.7% during the third quarter. Brown Advisory Inc. now owns 8,456 shares of the company’s stock valued at $244,000 after purchasing an additional 532 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Core & Main by 81.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,726 shares of the company’s stock valued at $50,000 after purchasing an additional 775 shares in the last quarter. Finally, Quarry LP increased its stake in shares of Core & Main by 87.0% during the fourth quarter. Quarry LP now owns 1,909 shares of the company’s stock valued at $77,000 after purchasing an additional 888 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CNM. Loop Capital boosted their target price on shares of Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Citigroup lowered shares of Core & Main from a “buy” rating to a “neutral” rating and boosted their price target for the company from $63.00 to $64.00 in a research report on Friday, April 5th. Barclays upped their target price on shares of Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. upped their target price on shares of Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada upped their target price on shares of Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.08.

About Core & Main

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.