Core & Main, Inc. (NYSE:CNM) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Core & Main, Inc. (NYSE:CNM) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $50.00.

Several equities research analysts recently weighed in on the company. Barclays increased their price target on Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Citigroup increased their price target on Core & Main from $48.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. The Goldman Sachs Group increased their price target on Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday. Truist Financial reaffirmed a “hold” rating and set a $38.00 price target on shares of Core & Main in a report on Wednesday, March 20th. Finally, Royal Bank of Canada increased their price target on Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th.

Core & Main Stock Up 0.8 %

CNM stock opened at $57.23 on Friday. The company’s 50 day moving average price is $47.09 and its 200 day moving average price is $38.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.30 and a current ratio of 2.29. Core & Main has a fifty-two week low of $21.75 and a fifty-two week high of $58.26. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 1.85 and a beta of 1.11.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 earnings per share. On average, equities research analysts anticipate that Core & Main will post 2.58 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of the firm’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $38.12, for a total value of $864,398,751.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of Core & Main stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $38.12, for a total transaction of $864,398,751.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen O. Leclair sold 150,000 shares of Core & Main stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $40.66, for a total value of $6,099,000.00. Following the sale, the chief executive officer now owns 73,692 shares of the company’s stock, valued at approximately $2,996,316.72. The disclosure for this sale can be found here. Insiders sold a total of 46,334,043 shares of company stock worth $1,836,262,410 over the last 90 days. 3.49% of the stock is currently owned by corporate insiders.

Institutional Trading of Core & Main

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC lifted its stake in shares of Core & Main by 74.5% in the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Core & Main during the 3rd quarter worth approximately $28,000. GAMMA Investing LLC acquired a new position in Core & Main during the 4th quarter worth approximately $41,000. Penserra Capital Management LLC acquired a new position in Core & Main during the 2nd quarter worth approximately $31,000. Finally, Principal Securities Inc. acquired a new position in Core & Main during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.