Robyn Bradbury Sells 5,000 Shares of Core & Main (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) CFO Robyn Bradbury sold 5,000 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $52.54, for a total transaction of $262,700.00. Following the completion of the sale, the chief financial officer owned 12,500 shares of the company’s stock, valued at approximately $656,750. This trade represents a 28.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Core & Main Stock Performance

Shares of CNM opened at $48.91 on Thursday. The company has a current ratio of 2.63, a quick ratio of 1.51 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $9.52 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 1.80 and a beta of 1.00. The stock has a 50 day moving average of $51.76 and a 200 day moving average of $52.45. Core & Main, Inc. has a 12 month low of $43.96 and a 12 month high of $67.18.

Institutional Investors Weigh In On Core & Main

A number of hedge funds have recently modified their holdings of CNM. Capital World Investors raised its holdings in shares of Core & Main by 294.9% in the 3rd quarter. Capital World Investors now owns 5,948,134 shares of the company’s stock worth $320,188,000 after purchasing an additional 4,442,047 shares during the period. Norges Bank purchased a new position in Core & Main in the 4th quarter valued at approximately $108,265,000. Holocene Advisors LP purchased a new position in Core & Main in the 3rd quarter valued at approximately $100,765,000. First Trust Advisors LP grew its stake in Core & Main by 38.6% in the 4th quarter. First Trust Advisors LP now owns 5,318,070 shares of the company’s stock valued at $276,380,000 after buying an additional 1,482,235 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in Core & Main in the 3rd quarter valued at approximately $67,284,000. Institutional investors own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $63.00 price target on shares of Core & Main in a research report on Friday, January 9th. Barclays decreased their price target on Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Wells Fargo & Company raised their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Citigroup lifted their price target on shares of Core & Main from $56.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Finally, Zacks Research cut shares of Core & Main from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.64.

Core & Main Company Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.