Core & Main (NYSE:CNM) CEO Mark Witkowski Sells 100,000 Shares of Stock

Core & Main, Inc. (NYSE:CNM) CEO Mark Witkowski sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $64.08, for a total transaction of $6,408,000.00. Following the sale, the chief executive officer owned 35,847 shares of the company’s stock, valued at approximately $2,297,075.76. The trade was a 73.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Core & Main Trading Down 1.8%

Shares of CNM stock opened at $63.96 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 1.23. The firm has a market cap of $12.61 billion, a P/E ratio of 29.75, a PEG ratio of 1.92 and a beta of 1.04. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $65.97. The company has a 50 day moving average of $61.92 and a 200-day moving average of $55.11.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. Core & Main had a return on equity of 23.55% and a net margin of 5.47%.The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 EPS. Core & Main has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Institutional Trading of Core & Main

Institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 269 shares in the last quarter. Parallel Advisors LLC lifted its stake in Core & Main by 447.1% in the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock worth $31,000 after purchasing an additional 532 shares in the last quarter. Bfsg LLC lifted its stake in Core & Main by 56.4% in the 2nd quarter. Bfsg LLC now owns 560 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after purchasing an additional 524 shares in the last quarter. Finally, Rossby Financial LCC purchased a new stake in Core & Main in the 1st quarter worth approximately $37,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on CNM shares. Citigroup increased their price target on Core & Main from $56.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 10th. JPMorgan Chase & Co. raised their price objective on shares of Core & Main from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. Wells Fargo & Company raised their price objective on shares of Core & Main from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Royal Bank Of Canada raised their price objective on shares of Core & Main from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, June 10th. Finally, Loop Capital reaffirmed a “hold” rating and issued a $68.00 price objective on shares of Core & Main in a report on Monday, July 28th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $60.00.

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.