John Weldon Stephens Sells 9,497 Shares of Core & Main, Inc. (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) CAO John Weldon Stephens sold 9,497 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.19, for a total value of $524,139.43. Following the transaction, the chief accounting officer now directly owns 4,281 shares in the company, valued at $236,268.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, April 19th, John Weldon Stephens sold 5,503 shares of Core & Main stock. The stock was sold at an average price of $54.23, for a total value of $298,427.69.
• 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 value 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 value of $2,195,878.00.
• On Monday, March 4th, John Weldon Stephens sold 1,100 shares of Core & Main stock. The shares were sold at an average price of $50.02, for a total value of $55,022.00.

Core & Main Trading Up 0.3 %

Shares of NYSE:CNM traded up $0.19 during midday trading on Wednesday, hitting $56.16. The company had a trading volume of 1,145,746 shares, compared to its average volume of 2,855,459. Core & Main, Inc. has a 12 month low of $25.16 and a 12 month high of $60.83. 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 cap of $11.31 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.69 and a beta of 1.15. The firm has a fifty day simple moving average of $52.40 and a 200 day simple moving average of $42.24.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the company earned $0.31 EPS. On average, analysts predict that Core & Main, Inc. will post 2.59 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on CNM shares. 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. Barclays raised their price objective on Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Citigroup cut Core & Main from a “buy” rating to a “neutral” rating and increased their target price for the stock from $63.00 to $64.00 in a report on Friday, April 5th. Truist Financial reissued a “hold” rating and issued a $38.00 target price on shares of Core & Main in a report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. raised their price target on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNM. National Bank of Canada FI lifted its holdings in Core & Main by 57.0% during the third quarter. National Bank of Canada FI now owns 12,001 shares of the company’s stock worth $342,000 after acquiring an additional 4,357 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Core & Main by 17.3% during the third quarter. Exchange Traded Concepts LLC now owns 18,419 shares of the company’s stock worth $531,000 after acquiring an additional 2,716 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in Core & Main during the third quarter worth about $265,000. Oak Thistle LLC lifted its holdings in Core & Main by 13.8% during the third quarter. Oak Thistle LLC now owns 19,540 shares of the company’s stock worth $564,000 after acquiring an additional 2,377 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in Core & Main by 5,688.6% during the third quarter. Handelsbanken Fonder AB now owns 966,700 shares of the company’s stock worth $27,889,000 after acquiring an additional 950,000 shares in the last quarter. 94.19% of the stock is currently 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.