Core & Main Target of Unusually High Options Trading (NYSE:CNM)

Core & Main, Inc. (NYSE:CNM - Get Free Report) was the target of unusually large options trading activity on Wednesday. Stock investors bought 4,301 put options on the stock. This represents an increase of 251% compared to the typical volume of 1,226 put options.

Insiders Place Their Bets

In other Core & Main news, Director James G. Castellano sold 12,500 shares of the firm's stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $52.22, for a total value of $652,750.00. Following the completion of the sale, the director now directly owns 11,769 shares in the company, valued at $614,577.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.49% of the company's stock.

Institutional Investors Weigh In On Core & Main

Several large investors have recently bought and sold shares of CNM. Vanguard Group Inc. grew its position in Core & Main by 35.2% in the 1st quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company's stock worth $1,038,457,000 after purchasing an additional 4,721,510 shares during the period. Select Equity Group L.P. grew its holdings in shares of Core & Main by 0.3% in the second quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company's stock worth $754,986,000 after acquiring an additional 39,475 shares during the period. Capital International Investors increased its position in Core & Main by 470.6% during the first quarter. Capital International Investors now owns 5,093,278 shares of the company's stock valued at $291,590,000 after acquiring an additional 4,200,591 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Core & Main by 37.1% in the second quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company's stock valued at $205,974,000 after acquiring an additional 1,137,817 shares during the period. Finally, Anomaly Capital Management LP lifted its holdings in Core & Main by 35.9% in the second quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company's stock valued at $176,601,000 after acquiring an additional 953,489 shares during the period. 94.19% of the stock is currently owned by institutional investors.

Core & Main Stock Down 15.8 %

Shares of CNM traded down $7.41 on Wednesday, hitting $39.39. 12,622,074 shares of the stock traded hands, compared to its average volume of 2,513,468. Core & Main has a one year low of $27.75 and a one year high of $62.15. The company has a market capitalization of $7.94 billion, a PE ratio of 18.41, a P/E/G ratio of 1.82 and a beta of 1.06. The business has a 50 day simple moving average of $50.10 and a 200 day simple moving average of $52.74. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 2.14.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Tuesday, June 4th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.02). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The business had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts forecast that Core & Main will post 2.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CNM. JPMorgan Chase & Co. dropped their target price on shares of Core & Main from $54.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday. Royal Bank of Canada restated an "outperform" rating and issued a $60.00 price objective on shares of Core & Main in a report on Wednesday, June 5th. Finally, Truist Financial lowered their target price on shares of Core & Main from $56.00 to $50.00 and set a "hold" rating for the company in a report on Wednesday, June 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.70.

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.