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

Core & Main, Inc. (NYSE:CNM - Get Free Report) CAO John Weldon Stephens sold 41,963 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the completion of the sale, the chief accounting officer now owns 4,120 shares of the company's stock, valued at $207,977.60. This trade represents a 91.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Core & Main Trading Up 10.2 %

CNM traded up $4.52 during trading on Wednesday, hitting $49.05. The company's stock had a trading volume of 3,523,277 shares, compared to its average volume of 2,290,497. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The stock has a market cap of $9.71 billion, a PE ratio of 23.03, a PEG ratio of 2.61 and a beta of 1.05. The firm's 50 day moving average price is $50.05 and its 200-day moving average price is $49.20. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. The business's revenue for the quarter was up 17.9% compared to the same quarter last year. On average, analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

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Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CNM shares. Citigroup increased their target price on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target for the company. Royal Bank of Canada decreased their price objective on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Wells Fargo & Company raised their target price on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. 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 report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $57.55.

Institutional Investors Weigh In On Core & Main

Several hedge funds have recently modified their holdings of CNM. Charles Schwab Investment Management Inc. increased its position in Core & Main by 7.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company's stock worth $84,855,000 after purchasing an additional 122,240 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Core & Main by 70.4% during the 4th 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. B. Riley Wealth Advisors Inc. purchased a new position in shares of Core & Main in the 3rd quarter worth $774,000. Asset Management One Co. Ltd. boosted its holdings in Core & Main by 13.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company's stock valued at $3,331,000 after acquiring an additional 7,565 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Core & Main by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock valued at $927,580,000 after acquiring an additional 221,970 shares during the period. 94.19% of the stock is owned by institutional investors and hedge funds.

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.