Bradford A. Cowles Sells 12,500 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) President Bradford A. Cowles sold 12,500 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.50, for a total value of $631,250.00. Following the sale, the president now owns 16,010 shares of the company’s stock, valued at approximately $808,505. The trade was a 43.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Core & Main Stock Up 0.4 %

NYSE:CNM opened at $54.16 on Thursday. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 2.88 and a beta of 1.04. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The stock has a 50-day moving average price of $49.42 and a two-hundred day moving average price of $47.83. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 EPS. As a group, equities analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Institutional Investors Weigh In On Core & Main

Large investors have recently made changes to their positions in the stock. Select Equity Group L.P. boosted its stake in Core & Main by 0.3% in the 2nd quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock worth $754,986,000 after purchasing an additional 39,475 shares during the period. FMR LLC increased its position in shares of Core & Main by 28.0% in the third quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after acquiring an additional 1,903,280 shares during the last quarter. State Street Corp raised its stake in shares of Core & Main by 9.7% during the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company’s stock worth $245,177,000 after purchasing an additional 489,224 shares in the last quarter. Pacer Advisors Inc. raised its position in Core & Main by 1.0% during the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock worth $188,710,000 after acquiring an additional 41,521 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its stake in Core & Main by 39.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock valued at $167,029,000 after purchasing an additional 1,073,451 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

CNM has been the subject of several recent research reports. Citigroup boosted their price objective on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Barclays increased their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Truist Financial lifted their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. The Goldman Sachs Group increased their price target on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 price objective (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.30.

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.