Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg Sells 50,000 Shares

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 50,000 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $54.08, for a total transaction of $2,704,000.00. Following the sale, the general counsel now directly owns 12,933 shares of the company’s stock, valued at $699,416.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Core & Main Stock Up 2.5 %

CNM opened at $55.97 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.68 and a beta of 1.15. Core & Main, Inc. has a twelve month low of $25.16 and a twelve month high of $60.83. The company’s 50-day moving average price is $52.40 and its two-hundred day moving average price is $42.24.

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

Institutional Trading of Core & Main

A number of institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System lifted its stake in shares of Core & Main by 40.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 49,100 shares of the company’s stock valued at $2,811,000 after buying an additional 14,200 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Core & Main by 1.6% during the 1st quarter. Amalgamated Bank now owns 104,662 shares of the company’s stock valued at $5,992,000 after buying an additional 1,659 shares in the last quarter. New Mexico Educational Retirement Board lifted its stake in shares of Core & Main by 44.0% during the 1st quarter. New Mexico Educational Retirement Board now owns 35,700 shares of the company’s stock valued at $2,044,000 after buying an additional 10,900 shares in the last quarter. Seven Grand Managers LLC lifted its stake in Core & Main by 198.3% in the 1st quarter. Seven Grand Managers LLC now owns 250,000 shares of the company’s stock worth $14,312,000 after purchasing an additional 166,200 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC lifted its stake in Core & Main by 17.0% in the 1st quarter. Hunter Perkins Capital Management LLC now owns 16,025 shares of the company’s stock worth $917,000 after purchasing an additional 2,325 shares in the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CNM shares. Barclays boosted their target price on shares of Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Royal Bank of Canada boosted their target price on shares of Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Citigroup downgraded shares of Core & Main from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $63.00 to $64.00 in a research report on Friday, April 5th. The Goldman Sachs Group upped their price objective on shares of Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $38.00 price objective on shares of Core & Main in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.08.

About Core & Main

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.