John Weldon Stephens Sells 9,497 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 9,497 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.19, for a total transaction of $524,139.43. Following the completion of the sale, the chief accounting officer now owns 4,281 shares of the company’s stock, valued at approximately $236,268.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

John Weldon Stephens also recently made the following trade(s):

• On Friday, April 19th, John Weldon Stephens sold 5,503 shares of Core & Main stock. The shares were sold at an average price of $54.23, for a total transaction of $298,427.69.
• On Friday, March 22nd, John Weldon Stephens sold 15,000 shares of Core & Main stock. The shares were sold at an average price of $57.91, for a total transaction of $868,650.00.
• On Thursday, March 7th, John Weldon Stephens sold 43,900 shares of Core & Main stock. The shares were sold at an average price of $50.02, for a total transaction of $2,195,878.00.
• On Monday, March 4th, John Weldon Stephens sold 1,100 shares of Core & Main stock. The shares were sold at an average price of $50.02, for a total transaction of $55,022.00.

Core & Main Price Performance

CNM stock opened at $56.76 on Friday. The firm has a 50 day moving average of $52.89 and a 200-day moving average of $42.44. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. Core & Main, Inc. has a 12 month low of $25.16 and a 12 month high of $60.83. The firm has a market capitalization of $11.43 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 1.73 and a beta of 1.15.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Quadrant Capital Group LLC raised 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 worth $35,000 after acquiring an additional 365 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of Core & Main in the first quarter worth $27,000. Brown Advisory Inc. increased its stake in shares of Core & Main by 6.7% in the third quarter. Brown Advisory Inc. now owns 8,456 shares of the company’s stock worth $244,000 after buying an additional 532 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Core & Main by 81.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,726 shares of the company’s stock worth $50,000 after buying an additional 775 shares during the period. Finally, Quarry LP increased its stake in shares of Core & Main by 87.0% in the fourth quarter. Quarry LP now owns 1,909 shares of the company’s stock worth $77,000 after buying an additional 888 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, March 26th. Loop Capital increased their price target on shares of Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Citigroup lowered shares of Core & Main from a “buy” rating to a “neutral” rating and increased their price target for the company from $63.00 to $64.00 in a research report on Friday, April 5th. Truist Financial restated a “hold” rating and set a $38.00 price target on shares of Core & Main in a research report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. increased 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Core & Main has a consensus rating of “Moderate Buy” and an average target price of $50.08.

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.