Insider Selling: Core & Main, Inc. (NYSE:CNM) President Sells $826,250.00 in Stock

Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $33.05, for a total value of $826,250.00. Following the transaction, the president now directly owns 14,679 shares of the company’s stock, valued at approximately $485,140.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Core & Main Stock Performance

CNM opened at $33.88 on Friday. Core & Main, Inc. has a 12-month low of $18.75 and a 12-month high of $34.22. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 2.75 and a beta of 0.95. The company has a current ratio of 2.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average is $30.30 and its 200 day moving average is $30.00.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Wednesday, September 6th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. Core & Main had a net margin of 5.45% and a return on equity of 15.75%. The company’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 earnings per share. On average, equities research analysts predict that Core & Main, Inc. will post 1.97 EPS for the current year.

Hedge Funds Weigh In On Core & Main

Hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Core & Main in the third quarter worth about $28,000. Penserra Capital Management LLC bought a new position in shares of Core & Main in the second quarter worth about $31,000. Harbor Investment Advisory LLC bought a new position in shares of Core & Main in the third quarter worth about $33,000. Money Concepts Capital Corp bought a new position in shares of Core & Main in the fourth quarter worth about $39,000. Finally, Kepos Capital LP bought a new position in shares of Core & Main during the 3rd quarter valued at about $41,000. Institutional investors own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CNM shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Core & Main in a research report on Thursday, October 5th. Loop Capital raised their price target on shares of Core & Main from $33.00 to $38.00 in a research report on Friday, August 11th. The Goldman Sachs Group raised their price target on shares of Core & Main from $33.00 to $34.00 in a research report on Thursday, September 7th. TheStreet raised shares of Core & Main from a “c” rating to a “b-” rating in a research report on Monday, July 24th. Finally, Robert W. Baird raised their price target on shares of Core & Main from $34.00 to $38.00 in a research report on Thursday, September 7th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Core & Main currently has a consensus rating of “Moderate Buy” and an average target price of $36.55.

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 accessories, installation, software, and other services.