John Weldon Stephens Sells 15,000 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 15,000 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 transaction of $868,650.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,281 shares of the company’s stock, valued at approximately $247,912.71. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

John Weldon Stephens also recently made the following trade(s):

• On Thursday, March 7th, John Weldon Stephens sold 43,900 shares of Core & Main stock. The stock was sold at an average price of $50.02, for a total transaction of $2,195,878.00.
• On Monday, March 4th, John Weldon Stephens sold 1,100 shares of Core & Main stock. The stock was sold at an average price of $50.02, for a total transaction of $55,022.00.

Core & Main Stock Down 0.9 %

Shares of NYSE CNM opened at $56.77 on Thursday. The firm’s 50-day moving average price is $46.77 and its 200-day moving average price is $38.47. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $12.28 billion, a price-to-earnings ratio of 26.40, a P/E/G ratio of 1.85 and a beta of 1.11. Core & Main, Inc. has a 12-month low of $21.32 and a 12-month high of $58.26.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. On average, equities research analysts anticipate that Core & Main, Inc. will post 2.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on CNM. Royal Bank of Canada boosted their price target on shares of Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Truist Financial reiterated a “hold” rating and issued a $38.00 price target on shares of Core & Main in a research note on Wednesday, March 20th. Loop Capital boosted their price target on shares of Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Citigroup boosted their price target on shares of Core & Main from $48.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and an average target price of $50.00.

Hedge Funds Weigh In On Core & Main

Several hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its holdings in Core & Main by 74.5% during the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares during the last quarter. US Bancorp DE grew its holdings in Core & Main by 37.3% during the 2nd quarter. US Bancorp DE now owns 1,938 shares of the company’s stock valued at $61,000 after purchasing an additional 527 shares during the last quarter. Brown Advisory Inc. grew its holdings in Core & Main by 6.7% during the 3rd quarter. Brown Advisory Inc. now owns 8,456 shares of the company’s stock valued at $244,000 after purchasing an additional 532 shares during the last quarter. C M Bidwell & Associates Ltd. grew its holdings in Core & Main by 7.0% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 9,676 shares of the company’s stock valued at $303,000 after purchasing an additional 630 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in Core & Main by 3.3% during the 2nd quarter. Citigroup Inc. now owns 19,704 shares of the company’s stock valued at $618,000 after purchasing an additional 631 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

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.