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ST. LOUIS—Mark G. Whittenburg, General Counsel and Secretary at Core & Main, Inc. (NYSE:CNM), recently executed significant stock transactions, according to a Securities and Exchange Commission filing. Whittenburg sold a total of 50,000 shares of Core & Main’s Class A common stock over two days, generating approximately $3,001,255. The sales, which took place on June 6 and June 9, 2025, were conducted under a pre-arranged trading plan.
On June 6, Whittenburg sold 900 shares at an average price of $60.0252 per share. Following this, on June 9, an additional 49,100 shares were sold at an average price of $60.0251 per share. These sales were part of a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks to avoid potential conflicts of interest. According to InvestingPro, Core & Main maintains a GREAT financial health score, with liquid assets exceeding short-term obligations and a healthy current ratio of 2.34.
After these transactions, Whittenburg retains direct ownership of 9,691 shares of Core & Main’s Class A common stock. The transactions were conducted in line with the company’s Exchange Agreement and the Fourth Amended and Restated LLC Agreement of Core & Main Management Feeder, LLC, which allow for the exchange of vested units for common stock.
In other recent news, Core & Main Inc. reported its Q1 2025 earnings, revealing a solid performance with earnings per share of $0.52, aligning with analyst forecasts. The company achieved a revenue of $1.9 billion, surpassing expectations by $50 million, marking a 10% year-over-year growth in net sales. Barclays (LON:BARC) analysts expressed confidence in Core & Main’s long-term prospects, raising the stock price target from $65 to $69 while maintaining an Overweight rating. They noted the company’s cautious pricing approach and potential benefits from municipal and infrastructure spending. The firm also highlighted Core & Main’s strategic positioning to capitalize on water infrastructure investments, despite a flat market outlook for the year. The company plans to open 5-10 new locations in 2025, indicating continued expansion efforts. Additionally, Core & Main reaffirmed its full-year guidance for net sales between $7.6 billion and $7.8 billion and adjusted EBITDA in the range of $950 million to $1 billion. These developments underscore Core & Main’s resilience and strategic focus in the water infrastructure sector.
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