St. Louis, MO – Core & Main, Inc. (NYSE:CNM) reported that its Chief Accounting Officer, John Weldon Stephens, sold 5,503 shares of the company's Class A Common Stock on April 19, 2024, for an average price of $54.23 per share, totaling approximately $298,429. The transaction was carried out under a pre-arranged trading plan.
According to the SEC filing, the shares sold by Stephens fetched prices ranging from $53.58 to $55.06, reflecting the market's fluctuating conditions at the time of sale. Following the disposal of these shares, Stephens still holds 4,281 shares in the form of restricted stock units (RSUs), which are set to vest on future dates ranging from March 2025 to March 2027.
The same filing also disclosed an equivalent number of shares, 5,503, were acquired by Stephens through the exchange of Class B common stock and limited partnership interests for Class A common stock. This exchange was made on a one-for-one basis and did not involve any cash transaction, as per the terms of an exchange agreement.
Investors tracking insider transactions of Core & Main may find this activity noteworthy as it reflects a shift in the executive's holdings in the company. Core & Main, based in St. Louis, Missouri, specializes in wholesale distribution of durable goods and is a key player in the infrastructure and construction sector.
For those interested in the company's stock performance and insider transactions, Core & Main's ticker is listed on the New York Stock Exchange under the symbol NYSE:CNM.
InvestingPro Insights
Core & Main, Inc. (NYSE:CNM) has attracted attention not only for its insider transactions but also for its financial performance and market valuation. According to InvestingPro data, the company currently holds a market capitalization of 11.27 billion USD, indicating its significant presence in the industry. Despite a modest revenue growth of 0.77% over the last twelve months as of Q4 2024, the company has demonstrated a substantial 112.08% return on its stock price over the past year. This performance aligns with one of the InvestingPro Tips, which highlights Core & Main's strong return over the last year.
Moreover, Core & Main's P/E ratio stands at 25.97, suggesting that the stock may be trading at a premium relative to its near-term earnings growth. This is further emphasized by the InvestingPro Tip noting the company's high P/E ratio in comparison to its earnings growth. With a Price / Book multiple of 7.75 as of the last twelve months ending Q4 2024, investors may want to consider the company's valuation metrics carefully when making investment decisions.
For those seeking a deeper analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/CNM. These tips can provide further context on Core & Main's financial health and future prospects. To access these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a comprehensive view of the company's investment potential.
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