John Weldon Stephens Sells 5,503 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 5,503 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $54.23, for a total value of $298,427.69. Following the completion of the sale, the chief accounting officer now owns 4,281 shares of the company’s stock, valued at approximately $232,158.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, April 23rd, John Weldon Stephens sold 9,497 shares of Core & Main stock. The stock was sold at an average price of $55.19, for a total value of $524,139.43.
• On Friday, March 22nd, John Weldon Stephens sold 15,000 shares of Core & Main stock. The shares were sold at an average price of $57.91, for a total transaction of $868,650.00.
• On Thursday, March 7th, John Weldon Stephens sold 43,900 shares of Core & Main stock. The shares were 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 Performance

Shares of CNM opened at $56.16 on Thursday. The stock has a market capitalization of $11.31 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. The business’s fifty day moving average price is $52.65 and its 200 day moving average price is $42.34. 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 12-month low of $25.16 and a 12-month high of $60.83.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the company earned $0.31 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts forecast that Core & Main, Inc. will post 2.59 EPS for the current year.

Wall Street Analyst Weigh In

CNM has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. raised their price objective on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Citigroup lowered Core & Main from a “buy” rating to a “neutral” rating and upped their target price for the company from $63.00 to $64.00 in a research report on Friday, April 5th. Loop Capital increased their target price on Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, Truist Financial restated a “hold” rating and issued a $38.00 price target on shares of Core & Main in a research note on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.08.

Hedge Funds Weigh In On Core & Main

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Core & Main by 41.4% during the 4th 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 period. FMR LLC increased its position 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 buying an additional 2,660,097 shares during the period. Robeco Schweiz AG increased its position in Core & Main by 7.6% in the third quarter. Robeco Schweiz AG now owns 2,925,109 shares of the company’s stock worth $84,389,000 after buying an additional 206,509 shares during the period. Handelsbanken Fonder AB lifted its stake in Core & Main by 180.1% in the fourth quarter. Handelsbanken Fonder AB now owns 2,707,385 shares of the company’s stock valued at $109,405,000 after buying an additional 1,740,685 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its holdings in shares of Core & Main by 148.0% during the first quarter. Artemis Investment Management LLP now owns 2,650,209 shares of the company’s stock valued at $151,655,000 after acquiring an additional 1,581,389 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

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.