Core & Main (NYSE:CNM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Core & Main (NYSE:CNM) from a hold rating to a buy rating in a research report report published on Saturday morning.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $24.00 price objective on shares of Core & Main in a report on Thursday, June 11th. William Blair began coverage on shares of Core & Main in a report on Thursday. They set a “market perform” rating for the company. Finally, Citigroup decreased 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 report on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and an average price target of $56.70.

Core & Main Price Performance

Shares of NYSE:CNM opened at $43.63 on Friday. Core & Main has a twelve month low of $42.50 and a twelve month high of $67.18. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00. The company has a market cap of $8.44 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.51 and a beta of 0.91. The company’s 50 day moving average is $47.26 and its 200 day moving average is $50.71.

Insider Buying and Selling

In other Core & Main news, Director James D. Hope acquired 2,067 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was acquired at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the completion of the transaction, the director directly owned 11,805 shares of the company’s stock, valued at $543,148.05. This represents a 21.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Core & Main

Institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its position in shares of Core & Main by 881.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 52,963 shares of the company’s stock valued at $2,752,000 after purchasing an additional 47,569 shares during the period. KBC Group NV raised its position in shares of Core & Main by 11.6% during the 4th quarter. KBC Group NV now owns 2,618,916 shares of the company’s stock worth $136,105,000 after purchasing an additional 272,258 shares during the last quarter. Impax Asset Management Group plc raised its position in shares of Core & Main by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 2,872,595 shares of the company’s stock worth $149,289,000 after purchasing an additional 279,373 shares during the last quarter. Thomasville National Bank purchased a new position in Core & Main in the 4th quarter valued at about $11,112,000. Finally, Oak Thistle LLC purchased a new position in Core & Main in the 4th quarter valued at about $509,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

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.