Core & Main (NYSE:CNM) Stock Rating Lowered by Wall Street Zen

Core & Main (NYSE:CNM) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

CNM has been the topic of a number of other research reports. Citigroup cut their target price on Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $24.00 price target on shares of Core & Main in a research note on Thursday, June 11th. Finally, William Blair initiated coverage on Core & Main in a report on Thursday, July 23rd. They set a “market perform” rating for the company. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.70.

Core & Main Stock Performance

Core & Main stock opened at $46.56 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31. The firm has a market capitalization of $9.01 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 1.60 and a beta of 0.92. Core & Main has a 1-year low of $41.88 and a 1-year high of $67.18. The company’s 50-day moving average is $46.75 and its 200 day moving average is $49.97.

Insider Transactions at Core & Main

In related news, Director James D. Hope acquired 2,067 shares of the stock in a transaction on Monday, July 6th. The stock was bought at an average cost of $46.01 per share, with a total value of $95,102.67. Following the transaction, the director directly owned 11,805 shares in the company, valued at approximately $543,148.05. This represents a 21.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Core & Main

A number of institutional investors have recently modified their holdings of CNM. Deutsche Bank AG lifted its position in shares of Core & Main by 1.1% in the 4th quarter. Deutsche Bank AG now owns 17,859 shares of the company’s stock worth $928,000 after purchasing an additional 190 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in Core & Main by 13.8% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,959 shares of the company’s stock valued at $109,000 after buying an additional 237 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in Core & Main by 4.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 5,726 shares of the company’s stock valued at $283,000 after buying an additional 261 shares during the period. EverSource Wealth Advisors LLC raised its stake in Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after buying an additional 269 shares in the last quarter. Finally, Steph & Co. raised its stake in Core & Main by 36.6% in the fourth quarter. Steph & Co. now owns 1,037 shares of the company’s stock worth $54,000 after buying an additional 278 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Company Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.