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

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

Core & Main Stock Up 1.3 %

CNM opened at $54.83 on Friday. The stock’s fifty day simple moving average is $49.56 and its 200 day simple moving average is $47.87. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The stock has a market cap of $10.89 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 2.79 and a beta of 1.02. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The company had revenue of $2.04 billion for 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 company’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. As a group, research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Hedge Funds Weigh In On Core & Main

Large investors have recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC boosted its stake in Core & Main by 4.8% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock valued at $286,000 after purchasing an additional 258 shares during the period. Andina Capital Management LLC lifted its holdings in shares of Core & Main by 3.5% during the third quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock worth $387,000 after buying an additional 294 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Core & Main by 61.1% in 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 period. Ashton Thomas Securities LLC acquired a new position in shares of Core & Main in the third quarter valued at about $26,000. Finally, Ritholtz Wealth Management grew its stake in shares of Core & Main by 4.3% in the fourth quarter. Ritholtz Wealth Management now owns 14,647 shares of the company’s stock valued at $746,000 after acquiring an additional 601 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CNM. Truist Financial lifted their price objective on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Wells Fargo & Company boosted their price target on shares of Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada restated an “outperform” rating and issued a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Barclays upped their target price on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird raised their price target on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Core & Main has an average rating of “Moderate Buy” and an average price target of $57.30.

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.