Core & Main (NYSE:CNM) Downgraded by Wall Street Zen to Hold

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

A number of other research firms have also recently commented on CNM. The Goldman Sachs Group restated a “neutral” rating and set a $24.00 target price on shares of Core & Main in a research report on Thursday, June 11th. Citigroup lowered their price target on Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Finally, William Blair began coverage on Core & Main in a report on Thursday, July 23rd. They issued a “market perform” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.70.

Core & Main Stock Up 2.3%

CNM stock opened at $46.56 on Friday. Core & Main has a one year low of $41.88 and a one year 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’s fifty day moving average is $46.75 and its 200 day moving average is $50.03. The firm has a market cap of $9.01 billion, a PE ratio of 19.73, a P/E/G ratio of 1.60 and a beta of 0.92.

Insider Transactions at Core & Main

In related news, Director James D. Hope bought 2,067 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were acquired at an average price 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 in the company, valued at $543,148.05. This trade represents a 21.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

About Core & Main

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.