Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens Sells 5,503 Shares of Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 5,503 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $54.23, for a total value of $298,427.69. Following the completion of the sale, the chief accounting officer now directly owns 4,281 shares in the company, valued at approximately $232,158.63. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

John Weldon Stephens also recently made the following trade(s):

• On Friday, March 22nd, John Weldon Stephens sold 15,000 shares of Core & Main stock. The stock was sold at an average price of $57.91, for a total value of $868,650.00.
• On Thursday, March 7th, John Weldon Stephens sold 43,900 shares of Core & Main stock. The stock was sold at an average price of $50.02, for a total value of $2,195,878.00.
• On Monday, March 4th, John Weldon Stephens sold 1,100 shares of Core & Main stock. The stock was sold at an average price of $50.02, for a total value of $55,022.00.

Core & Main Stock Up 2.5 %

Shares of NYSE CNM opened at $55.97 on Wednesday. Core & Main, Inc. has a 12-month low of $25.16 and a 12-month high of $60.83. The company has a market cap of $11.27 billion, a P/E ratio of 26.03, a P/E/G ratio of 1.68 and a beta of 1.15. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. The stock has a fifty day moving average price of $52.40 and a 200 day moving average price of $42.24.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the firm earned $0.31 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. Research analysts anticipate that Core & Main, Inc. will post 2.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CNM has been the topic of a number of recent analyst reports. Loop Capital increased their price target on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Truist Financial reissued a “hold” rating and set a $38.00 price target on shares of Core & Main in a research note on Wednesday, March 20th. Citigroup lowered Core & Main from a “buy” rating to a “neutral” rating and increased their price target for the stock from $63.00 to $64.00 in a research note on Friday, April 5th. JPMorgan Chase & Co. increased their target price on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada increased their target price on Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Core & Main presently has an average rating of “Moderate Buy” and a consensus target price of $50.08.

Institutional Trading of Core & Main

Several large investors have recently added to or reduced their stakes in CNM. National Bank of Canada FI increased its holdings in Core & Main by 57.0% in the 3rd quarter. National Bank of Canada FI now owns 12,001 shares of the company’s stock valued at $342,000 after purchasing an additional 4,357 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Core & Main by 17.3% during the third quarter. Exchange Traded Concepts LLC now owns 18,419 shares of the company’s stock valued at $531,000 after acquiring an additional 2,716 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Core & Main during the third quarter valued at about $265,000. Oak Thistle LLC grew its stake in shares of Core & Main by 13.8% during the third quarter. Oak Thistle LLC now owns 19,540 shares of the company’s stock valued at $564,000 after acquiring an additional 2,377 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of Core & Main by 5,688.6% during the third quarter. Handelsbanken Fonder AB now owns 966,700 shares of the company’s stock valued at $27,889,000 after acquiring an additional 950,000 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

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 sets, meter accessories, installation, software, and other services.