Core & Main, Inc. (NYSE:CNM) EVP Jeffrey D. Giles Sells 25,000 Shares

Core & Main, Inc. (NYSE:CNM) EVP Jeffrey D. Giles sold 25,000 shares of Core & Main stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.71, for a total transaction of $1,367,750.00. Following the completion of the sale, the executive vice president now owns 11,615 shares in the company, valued at approximately $635,456.65. This represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Core & Main Trading Down 1.1 %

NYSE:CNM traded down $0.63 during mid-day trading on Thursday, hitting $54.62. 2,895,847 shares of the stock traded hands, compared to its average volume of 2,604,923. Core & Main, Inc. has a 52 week low of $35.70 and a 52 week high of $62.15. The firm’s 50 day moving average is $45.25 and its two-hundred day moving average is $48.11. The stock has a market capitalization of $10.99 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 3.63 and a beta of 1.04. The company has a quick ratio of 1.34, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last issued its quarterly 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 firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. On average, equities research analysts predict that Core & Main, Inc. will post 2.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CNM. Select Equity Group L.P. increased its holdings in Core & Main by 0.3% during 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 grew its holdings in Core & Main by 28.0% during the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after acquiring an additional 1,903,280 shares in the last quarter. State Street Corp increased its position in Core & Main by 9.7% during the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company’s stock valued at $245,177,000 after purchasing an additional 489,224 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Core & Main by 1.0% in the 3rd quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock valued at $188,710,000 after purchasing an additional 41,521 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its position in shares of 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 worth $167,029,000 after purchasing an additional 1,073,451 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CNM. Wells Fargo & Company lifted their target price on Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Bank of America lowered their target price on Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Barclays boosted their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Truist Financial upped their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.10.

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.