Stock Traders Purchase High Volume of Core & Main Call Options (NYSE:CNM)

Core & Main, Inc. (NYSE:CNM) saw some unusual options trading on Monday. Stock traders bought 4,374 call options on the company. This is an increase of approximately 793% compared to the typical volume of 490 call options.

Core & Main Trading Up 0.0%

Shares of CNM stock traded up $0.01 on Monday, reaching $59.69. 922,160 shares of the stock were exchanged, compared to its average volume of 1,921,993. Core & Main has a 1-year low of $37.22 and a 1-year high of $60.32. The stock has a market cap of $11.81 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 2.61 and a beta of 1.02. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The firm has a 50 day moving average of $51.88 and a two-hundred day moving average of $51.70.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the company earned $0.34 earnings per share. The business’s revenue was up 17.9% compared to the same quarter last year. On average, research analysts anticipate that Core & Main will post 2.16 EPS for the current year.

Insider Buying and Selling at Core & Main

In other news, EVP John R. Schaller sold 9,794 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $55.00, for a total transaction of $538,670.00. Following the sale, the executive vice president now owns 19,689 shares of the company’s stock, valued at $1,082,895. The trade was a 33.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laura K. Schneider sold 45,695 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total value of $2,570,343.75. Following the sale, the insider now owns 12,873 shares in the company, valued at approximately $724,106.25. The trade was a 78.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,666 shares of company stock valued at $5,768,852. 3.53% of the stock is owned by company insiders.

Institutional Trading of Core & Main

Large investors have recently added to or reduced their stakes in the stock. Enhancing Capital LLC lifted its stake in shares of Core & Main by 0.6% during the first quarter. Enhancing Capital LLC now owns 31,846 shares of the company’s stock worth $1,538,000 after purchasing an additional 196 shares in the last quarter. US Bancorp DE lifted its position in Core & Main by 12.3% during the 4th quarter. US Bancorp DE now owns 1,795 shares of the company’s stock worth $91,000 after acquiring an additional 197 shares in the last quarter. CWM LLC increased its stake in Core & Main by 34.0% during the 1st quarter. CWM LLC now owns 839 shares of the company’s stock worth $41,000 after buying an additional 213 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Core & Main by 3.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company’s stock worth $343,000 after buying an additional 229 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in Core & Main by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company’s stock valued at $527,000 after buying an additional 272 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CNM has been the subject of several research reports. Robert W. Baird cut their price target on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. JPMorgan Chase & Co. lifted their target price on shares of Core & Main from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Royal Bank of Canada reduced their price target on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a research note on Tuesday, April 1st. They set a “buy” rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.91.

Core & Main Company Profile

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.