Core & Main, Inc. (NYSE:CNM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Core & Main, Inc. (NYSE:CNM) have been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $56.70.

A number of analysts recently commented on CNM shares. Citigroup lowered their target price on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Wall Street Zen lowered shares of Core & Main from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. William Blair initiated coverage on shares of Core & Main in a report on Thursday, July 23rd. They issued a “market perform” rating for the company. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $24.00 price target on shares of Core & Main in a report on Thursday, June 11th.

Insider Activity

In other news, Director James D. Hope bought 2,067 shares of Core & Main stock in a transaction that occurred on Monday, July 6th. The stock was bought at an average price of $46.01 per share, for a total transaction of $95,102.67. Following the purchase, the director directly owned 11,805 shares of the company’s stock, valued at approximately $543,148.05. The trade was a 21.23% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.51% of the stock is currently owned by insiders.

Institutional Trading of Core & Main

Several large investors have recently added to or reduced their stakes in CNM. Morgan Stanley raised its stake in shares of Core & Main by 8.3% in the fourth quarter. Morgan Stanley now owns 14,586,859 shares of the company’s stock worth $758,079,000 after purchasing an additional 1,118,145 shares during the last quarter. Capital World Investors lifted its holdings in shares of Core & Main by 5.8% during the fourth quarter. Capital World Investors now owns 6,292,740 shares of the company’s stock worth $327,034,000 after purchasing an additional 344,606 shares during the period. First Trust Advisors LP boosted its position in Core & Main by 15.3% in the first quarter. First Trust Advisors LP now owns 6,130,840 shares of the company’s stock valued at $302,863,000 after buying an additional 812,770 shares during the last quarter. State Street Corp boosted its position in Core & Main by 1.0% in the fourth quarter. State Street Corp now owns 5,733,516 shares of the company’s stock valued at $297,971,000 after buying an additional 54,562 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in Core & Main by 12.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 5,688,595 shares of the company’s stock worth $295,636,000 after buying an additional 632,077 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

Shares of CNM stock opened at $44.91 on Friday. Core & Main has a fifty-two week low of $41.88 and a fifty-two week high of $67.18. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 2.31. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.55 and a beta of 0.92. The stock’s 50-day simple moving average is $45.71 and its 200-day simple moving average is $49.27.

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.