Core & Main, Inc. (NYSE:CNM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Core & Main, Inc. (NYSE:CNM) have received an average recommendation of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $59.55.

Several analysts have recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Core & Main from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, June 10th. Loop Capital upped their price objective on Core & Main from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, June 11th. Wells Fargo & Company raised their price objective on Core & Main from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, June 10th. Robert W. Baird dropped their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, March 26th. Finally, Citigroup boosted their target price on Core & Main from $56.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, June 10th.

Insider Transactions at Core & Main

In other Core & Main news, EVP John R. Schaller sold 9,794 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $55.00, for a total value of $538,670.00. Following the transaction, the executive vice president now owns 19,689 shares of the company’s stock, valued at $1,082,895. This represents a 33.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 900 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $60.03, for a total value of $54,027.00. Following the completion of the sale, the general counsel now owns 9,691 shares in the company, valued at approximately $581,750.73. The trade was a 8.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,666 shares of company stock worth $8,770,352. 3.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Core & Main

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Core & Main by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock valued at $927,580,000 after acquiring an additional 221,970 shares in the last quarter. FMR LLC increased its holdings in Core & Main by 4.1% during the 4th quarter. FMR LLC now owns 9,055,993 shares of the company’s stock worth $461,041,000 after purchasing an additional 358,909 shares during the period. Invesco Ltd. raised its position in Core & Main by 0.8% during the 4th quarter. Invesco Ltd. now owns 5,926,569 shares of the company’s stock valued at $301,722,000 after purchasing an additional 44,513 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Core & Main by 0.5% in the 4th quarter. Bessemer Group Inc. now owns 3,835,182 shares of the company’s stock worth $195,250,000 after buying an additional 20,756 shares during the period. Finally, Royal London Asset Management Ltd. lifted its holdings in shares of Core & Main by 1.3% in the 4th quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company’s stock worth $194,005,000 after buying an additional 48,833 shares during the period. 94.19% of the stock is currently owned by institutional investors.

Core & Main Stock Up 2.2%

Shares of CNM opened at $58.30 on Tuesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.96 and a quick ratio of 1.10. The stock has a market capitalization of $11.49 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 1.68 and a beta of 1.02. Core & Main has a 1 year low of $37.22 and a 1 year high of $60.38. The business’s 50 day simple moving average is $53.95 and its 200-day simple moving average is $52.23.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the business posted $0.49 earnings per share. Core & Main’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts expect that Core & Main will post 2.16 earnings per share for the current fiscal year.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.