Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens Sells 41,963 Shares

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 41,963 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the completion of the transaction, the chief accounting officer now owns 4,120 shares of the company’s stock, valued at $207,977.60. The trade was a 91.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Core & Main Trading Down 2.3 %

Shares of NYSE CNM opened at $46.12 on Friday. The firm has a 50 day moving average price of $51.06 and a two-hundred day moving average price of $49.10. The stock has a market cap of $9.16 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, equities analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Hedge Funds Weigh In On Core & Main

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in Core & Main during the 4th quarter worth approximately $115,555,000. Norges Bank bought a new position in Core & Main during the fourth quarter worth $99,734,000. Impax Asset Management Group plc raised its stake in Core & Main by 70.4% during the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock worth $174,661,000 after buying an additional 1,416,907 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Core & Main by 4,757.9% in the fourth quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company’s stock valued at $57,953,000 after buying an additional 1,114,913 shares during the period. Finally, Zimmer Partners LP boosted its position in Core & Main by 535.6% during the third quarter. Zimmer Partners LP now owns 1,303,000 shares of the company’s stock valued at $57,853,000 after acquiring an additional 1,098,000 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup lifted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a report on Tuesday. They set a “buy” rating and a $60.00 price target for the company. Wells Fargo & Company lifted their target price on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Royal Bank of Canada lowered their target price on Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Finally, Robert W. Baird reduced their price target on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.55.

About Core & Main

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.