Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg Sells 50,000 Shares

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 50,000 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $57.91, for a total value of $2,895,500.00. Following the completion of the sale, the general counsel now directly owns 12,933 shares in the company, valued at $748,950.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Core & Main Trading Up 0.8 %

Shares of NYSE:CNM opened at $57.23 on Friday. The company has a market cap of $12.37 billion, a P/E ratio of 26.62, a PEG ratio of 1.85 and a beta of 1.11. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30. Core & Main, Inc. has a 1 year low of $21.75 and a 1 year high of $58.26. The stock’s fifty day moving average price is $47.09 and its 200-day moving average price is $38.60.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. Sell-side analysts expect that Core & Main, Inc. will post 2.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its holdings in Core & Main by 74.5% in the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after acquiring an additional 365 shares during the period. US Bancorp DE lifted its holdings in Core & Main by 37.3% in the second quarter. US Bancorp DE now owns 1,938 shares of the company’s stock valued at $61,000 after acquiring an additional 527 shares during the period. Brown Advisory Inc. raised its stake in shares of Core & Main by 6.7% in the third quarter. Brown Advisory Inc. now owns 8,456 shares of the company’s stock worth $244,000 after buying an additional 532 shares during the period. C M Bidwell & Associates Ltd. raised its stake in shares of Core & Main by 7.0% in the second quarter. C M Bidwell & Associates Ltd. now owns 9,676 shares of the company’s stock worth $303,000 after buying an additional 630 shares during the period. Finally, Citigroup Inc. raised its stake in shares of Core & Main by 3.3% in the second quarter. Citigroup Inc. now owns 19,704 shares of the company’s stock worth $618,000 after buying an additional 631 shares during the period. Institutional investors own 94.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Loop Capital upped their price target on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Barclays upped their price target on Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Truist Financial reaffirmed a “hold” rating and issued a $38.00 price target on shares of Core & Main in a research note on Wednesday, March 20th. Finally, Citigroup increased their target price on Core & Main from $48.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

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.