Core & Main, Inc. (NYSE:CNM) Receives $59.60 Average PT from Brokerages

Core & Main, Inc. (NYSE:CNM) has been given a consensus rating of “Moderate Buy” by the twelve brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $60.2727.

CNM has been the subject of a number of analyst reports. Loop Capital reissued a “hold” rating and set a $68.00 price objective on shares of Core & Main in a research note on Monday, July 28th. Royal Bank Of Canada dropped their price target on shares of Core & Main from $67.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, September 10th. Zacks Research cut shares of Core & Main from a “hold” rating to a “strong sell” rating in a research report on Monday. Citigroup lowered their price objective on shares of Core & Main from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, September 10th. Finally, Truist Financial cut their target price on Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, September 11th.

Core & Main Stock Down 2.2%

Shares of NYSE:CNM opened at $52.63 on Thursday. The stock has a market capitalization of $10.39 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 2.11 and a beta of 0.99. The stock’s 50-day moving average price is $59.98 and its 200-day moving average price is $56.28. The company has a current ratio of 2.25, a quick ratio of 1.30 and a debt-to-equity ratio of 1.14. Core & Main has a 12-month low of $41.60 and a 12-month high of $67.18.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the previous year, the company posted $0.61 EPS. Core & Main’s revenue for the quarter was up 6.6% on a year-over-year basis. Core & Main has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Core & Main will post 2.16 earnings per share for the current year.

Insider Activity

In related news, CFO Robyn L. Bradbury sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $64.51, for a total transaction of $322,550.00. Following the completion of the transaction, the chief financial officer owned 8,555 shares in the company, valued at $551,883.05. This represents a 36.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen O. Leclair sold 44,972 shares of Core & Main stock in a transaction on Monday, July 7th. The shares were sold at an average price of $61.91, for a total transaction of $2,784,216.52. Following the completion of the sale, the insider owned 70,736 shares in the company, valued at approximately $4,379,265.76. This trade represents a 38.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 317,928 shares of company stock valued at $19,847,647. 3.53% of the stock is owned by insiders.

Hedge Funds Weigh In On Core & Main

A number of institutional investors have recently bought and sold shares of CNM. Geode Capital Management LLC boosted its position in Core & Main by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 3,472,477 shares of the company’s stock valued at $209,597,000 after acquiring an additional 18,874 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Core & Main by 0.4% in the 2nd quarter. Bessemer Group Inc. now owns 3,371,475 shares of the company’s stock valued at $203,467,000 after purchasing an additional 14,244 shares during the period. Amundi boosted its position in shares of Core & Main by 2.8% during the second quarter. Amundi now owns 3,357,973 shares of the company’s stock valued at $186,955,000 after purchasing an additional 92,355 shares in the last quarter. Fiduciary Management Inc. WI grew its stake in Core & Main by 0.3% in the first quarter. Fiduciary Management Inc. WI now owns 2,841,734 shares of the company’s stock worth $137,284,000 after purchasing an additional 8,052 shares during the period. Finally, Handelsbanken Fonder AB grew its stake in Core & Main by 14.2% in the second quarter. Handelsbanken Fonder AB now owns 2,823,433 shares of the company’s stock worth $170,394,000 after purchasing an additional 351,219 shares during the period. 94.19% of the stock is owned by institutional investors.

About Core & Main

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.