Insider Selling: Core & Main, Inc. (NYSE:CNM) President Sells 25,000 Shares of Stock

Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles sold 25,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.48, for a total value of $1,362,000.00. Following the completion of the transaction, the president now owns 16,010 shares in the company, valued at approximately $872,224.80. This trade represents a 60.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Core & Main Price Performance

Shares of NYSE:CNM opened at $54.09 on Friday. The company has a market cap of $10.75 billion, a PE ratio of 25.39, a P/E/G ratio of 2.75 and a beta of 1.03. 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 50-day simple moving average of $53.40 and a 200 day simple moving average of $48.62. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share. On average, sell-side analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CNM shares. Royal Bank of Canada restated an “outperform” rating and set a $62.00 price objective (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Citigroup raised their price target 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. Loop Capital upped their price target on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised their price objective on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Robert W. Baird upped their target price on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Institutional Investors Weigh In On Core & Main

Large investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new position in shares of Core & Main during the third quarter valued at $26,000. ORG Wealth Partners LLC acquired a new position in Core & Main during the 3rd quarter valued at about $31,000. Avior Wealth Management LLC grew its position in Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after purchasing an additional 271 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after purchasing an additional 684 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Core & Main in the third quarter valued at approximately $49,000. 94.19% of the stock is owned by institutional investors and hedge funds.

About Core & Main

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.