Insider Selling: Core & Main, Inc. (NYSE:CNM) EVP Sells 60,452 Shares of Stock

Core & Main, Inc. (NYSE:CNM) EVP John R. Schaller sold 60,452 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the completion of the transaction, the executive vice president now directly owns 17,898 shares in the company, valued at approximately $905,101.86. The trade was a 77.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Core & Main Stock Performance

Core & Main stock traded up $2.19 during mid-day trading on Tuesday, reaching $53.94. The company’s stock had a trading volume of 2,098,781 shares, compared to its average volume of 1,603,635. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The company has a market capitalization of $10.72 billion, a P/E ratio of 25.32, a PEG ratio of 2.95 and a beta of 1.02. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The firm’s fifty day moving average price is $49.42 and its two-hundred day moving average price is $47.83.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates 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 for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 EPS. Sell-side analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CNM shares. Barclays raised their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price target on shares of Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Citigroup lifted their target price on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Robert W. Baird lifted their target price on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $62.00 target price (up previously from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its stake in Core & Main by 10.3% in the second quarter. American Century Companies Inc. now owns 1,378,181 shares of the company’s stock worth $67,448,000 after purchasing an additional 128,858 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Core & Main by 55.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 22,494 shares of the company’s stock worth $1,129,000 after purchasing an additional 8,065 shares during the last quarter. Federated Hermes Inc. lifted its stake in Core & Main by 33.1% in the second quarter. Federated Hermes Inc. now owns 158,720 shares of the company’s stock worth $7,768,000 after purchasing an additional 39,446 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Core & Main by 0.6% in the second quarter. William Blair Investment Management LLC now owns 522,412 shares of the company’s stock worth $25,567,000 after purchasing an additional 3,097 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Core & Main by 9.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 25,337 shares of the company’s stock worth $1,240,000 after purchasing an additional 2,152 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other 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.