Insider Selling: Core & Main, Inc. (NYSE:CNM) General Counsel Sells 50,000 Shares of Stock

Core & Main, Inc. (NYSE:CNM - Get Free Report) General Counsel Mark G. Whittenburg sold 50,000 shares of Core & Main stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.49, for a total value of $2,524,500.00. Following the transaction, the general counsel now owns 7,667 shares in the company, valued at $387,106.83. This trade represents a 86.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Core & Main Stock Performance

CNM traded up $2.19 during trading on Tuesday, hitting $53.94. The stock had a trading volume of 2,098,781 shares, compared to its average volume of 1,603,635. The company has a 50 day moving average price of $49.42 and a 200-day moving average price of $47.83. The firm has a market cap of $10.72 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 2.95 and a beta of 1.02. Core & Main, Inc. has a one year low of $37.22 and a one year high of $62.15. 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 quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm's quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 EPS. As a group, research analysts predict that Core & Main, Inc. will post 2.16 EPS for the current year.

Analyst Ratings Changes

CNM has been the topic of a number of recent research reports. Robert W. Baird lifted their target price on Core & Main from $60.00 to $66.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Barclays lifted their target price on Core & Main from $57.00 to $65.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Citigroup boosted their price target on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Loop Capital boosted their price target on Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Truist Financial boosted their price target on Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.30.

Institutional Trading of Core & Main

Several institutional investors have recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC boosted its stake in Core & Main by 4.8% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company's stock valued at $286,000 after purchasing an additional 258 shares during the period. Andina Capital Management LLC lifted its position in shares of Core & Main by 3.5% during the 3rd quarter. Andina Capital Management LLC now owns 8,707 shares of the company's stock valued at $387,000 after acquiring an additional 294 shares during the period. GAMMA Investing LLC lifted its position in shares of Core & Main by 61.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock valued at $60,000 after acquiring an additional 511 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Core & Main during the 3rd quarter valued at $26,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of Core & Main during the 3rd quarter valued at $31,000. 94.19% of the stock is currently owned by institutional investors.

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.

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