Core & Main executive vice president sells $1.02 million in stock

John R. Schaller, Executive Vice President at Core & Main, Inc. (NYSE:CNM), recently executed a significant stock transaction. On March 10, Schaller sold 21,868 shares of Class A Common Stock at a price of $46.82 per share, totaling approximately $1.02 million. This sale was conducted under a Rule 10b5-1 trading plan he adopted in October 2024.

In addition to the sale, Schaller exercised options to acquire 21,868 shares at a price of $22.11 per share on the same day. Prior to these transactions, Schaller engaged in transactions on March 7 and 10, where shares were withheld for tax purposes, amounting to a total of $68,058, with prices ranging from $46.69 to $47.87 per share. The stock currently trades at a P/E ratio of 21.4x, with the company scheduled to report earnings on March 19.

Following these transactions, Schaller holds 16,452 shares of Core & Main’s Class A Common Stock.

In other recent news, Core & Main Inc. has made significant strides with its financial and strategic initiatives. The company has secured approximately $744 million in new Tranche E Term Loans, as detailed in a recent SEC filing. This financial maneuver is part of Core & Main’s strategy to optimize its capital structure and maintain financial flexibility, with the funds earmarked for repaying existing debts and covering related fees. Additionally, Core & Main has been active in expanding its business through mergers and acquisitions, having completed or announced 11 acquisitions in 2024, potentially adding around $460 million in annual sales. Analyst Anthony Pettinari from Citi has maintained a Neutral rating on the company’s stock with a price target of $56.00, highlighting the company’s successful acquisition strategy. Core & Main’s private label strategy is also noted as a long-term opportunity to improve margins, potentially increasing the sourcing of products internally from 2% to over 10%. The company’s recent financial and strategic activities underscore its efforts to manage financial responsibilities and expand its market presence effectively.

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