Key Points
- Core & Main CFO Robyn Bradbury sold 5,000 shares on April 17 at an average price of $52.54 for total proceeds of $262,700 under a pre-arranged Rule 10b5-1 plan, cutting her holding by 28.57% to 12,500 shares.
- Institutional ownership is very high (94.19%), and several funds including Goldman Sachs, MIRAE Asset and AQR recently increased or initiated positions, signaling strong institutional interest.
- Analysts view CNM as a "Moderate Buy" with an average price target of $61.64; the stock has a market cap of about $9.69 billion, a P/E of ~21.5, and a 52-week range of $43.96–$67.18.
Core & Main, Inc. (NYSE:CNM - Get Free Report) CFO Robyn Bradbury sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $52.54, for a total transaction of $262,700.00. Following the sale, the chief financial officer owned 12,500 shares of the company's stock, valued at approximately $656,750. This represents a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Core & Main Stock Performance
CNM stock opened at $49.76 on Wednesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.51 and a current ratio of 2.63. The stock has a market cap of $9.69 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.81 and a beta of 1.00. The firm has a 50 day simple moving average of $51.94 and a 200 day simple moving average of $52.47. Core & Main, Inc. has a 52 week low of $43.96 and a 52 week high of $67.18.
Institutional Trading of Core & Main
A number of institutional investors and hedge funds have recently modified their holdings of CNM. Cubist Systematic Strategies LLC lifted its stake in shares of Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock worth $35,000 after buying an additional 524 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Core & Main in the first quarter worth $396,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Core & Main by 36.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,576 shares of the company's stock worth $1,719,000 after buying an additional 9,534 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Core & Main by 23.1% in the first quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company's stock worth $14,106,000 after buying an additional 54,854 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company's stock worth $27,000 after buying an additional 269 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms recently commented on CNM. Wells Fargo & Company raised their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, January 14th. Royal Bank Of Canada restated an "outperform" rating and set a $63.00 price target on shares of Core & Main in a report on Friday, January 9th. Barclays decreased their price target on shares of Core & Main from $63.00 to $62.00 and set an "overweight" rating for the company in a report on Wednesday, March 25th. Citigroup raised their price target on shares of Core & Main from $56.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, January 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Core & Main from $65.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, March 25th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $61.64.
Read Our Latest Report on CNM
About Core & Main
(
Get Free Report)
Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company's product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.
With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.
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