Core & Main (NYSE:CNM) Shares Gap Down – Should You Sell?

Core & Main, Inc. (NYSE:CNM) gapped down prior to trading on Tuesday . The stock had previously closed at $46.69, but opened at $45.00. Core & Main shares last traded at $46.43, with a volume of 222,102 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CNM shares. Truist Financial raised their target price on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Loop Capital upped their target price on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and issued a $62.00 price target (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Barclays raised their target price on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird upped their price target on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Core & Main Trading Up 0.4 %

The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $9.31 billion, a P/E ratio of 22.00, a PEG ratio of 2.61 and a beta of 1.05. The business has a 50 day moving average of $52.95 and a 200-day moving average of $48.62.

Insider Transactions at Core & Main

In other news, President Bradford A. Cowles sold 12,500 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.50, for a total transaction of $631,250.00. Following the completion of the transaction, the president now directly owns 16,010 shares of the company’s stock, valued at $808,505. This represents a 43.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total value of $109,142.46. Following the transaction, the general counsel now directly owns 7,667 shares of the company’s stock, valued at approximately $423,908.43. This trade represents a 20.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,426 shares of company stock valued at $8,359,825 over the last quarter. Corporate insiders own 3.49% of the company’s stock.

Institutional Trading of Core & Main

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Core & Main by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock worth $927,580,000 after buying an additional 221,970 shares in the last quarter. FMR LLC boosted its position in Core & Main by 4.1% during the fourth quarter. FMR LLC now owns 9,055,993 shares of the company’s stock valued at $461,041,000 after purchasing an additional 358,909 shares during the last quarter. Invesco Ltd. grew its stake in Core & Main by 0.8% in the fourth quarter. Invesco Ltd. now owns 5,926,569 shares of the company’s stock valued at $301,722,000 after purchasing an additional 44,513 shares in the last quarter. State Street Corp grew its stake in shares of Core & Main by 9.7% in the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock valued at $245,177,000 after buying an additional 489,224 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Core & Main by 1.0% during the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock worth $188,710,000 after buying an additional 41,521 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.