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

Core & Main, Inc. (NYSE:CNM) General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction on Friday, March 22nd. The shares were 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 owns 12,933 shares of the company’s stock, valued at $748,950.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Core & Main Stock Down 0.9 %

Shares of NYSE:CNM opened at $56.77 on Thursday. The firm has a fifty day moving average price of $46.77 and a two-hundred day moving average price of $38.47. 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 one year low of $21.32 and a one year high of $58.26. The company has a market cap of $12.28 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.85 and a beta of 1.11.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CNM. The Goldman Sachs Group raised their price target on shares of Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday. Citigroup lifted their target price on shares of Core & Main from $48.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Royal Bank of Canada lifted their target price on shares of Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. lifted their target price on shares of Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, Truist Financial restated a “hold” rating and set a $38.00 price target on shares of Core & Main in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Core & Main during the 4th quarter worth $108,023,000. Vanguard Group Inc. lifted its stake in Core & Main by 41.4% in the fourth quarter. Vanguard Group Inc. now owns 13,417,484 shares of the company’s stock worth $542,201,000 after purchasing an additional 3,926,588 shares during the last quarter. Morgan Stanley lifted its stake in Core & Main by 423.6% in the fourth quarter. Morgan Stanley now owns 3,526,994 shares of the company’s stock worth $68,106,000 after purchasing an additional 2,853,438 shares during the last quarter. FMR LLC lifted its stake in Core & Main by 51.1% in the third quarter. FMR LLC now owns 7,865,719 shares of the company’s stock worth $226,926,000 after purchasing an additional 2,660,097 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in Core & Main in the fourth quarter worth $91,771,000. 94.19% of the stock is 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.