Core & Main (NYSE:CNM) Cut to “Hold” at Wall Street Zen

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

A number of other analysts have also commented on the company. Citigroup dropped their price target on Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, June 11th. William Blair started coverage on Core & Main in a research report on Thursday, July 23rd. They set a “market perform” rating for the company. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $24.00 target price on shares of Core & Main in a research note on Thursday, June 11th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.70.

Core & Main Price Performance

Shares of NYSE CNM opened at $46.25 on Friday. The company has a market capitalization of $8.95 billion, a PE ratio of 19.60, a PEG ratio of 1.60 and a beta of 0.92. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00. The stock’s 50 day moving average price is $46.69 and its 200-day moving average price is $49.90. Core & Main has a twelve month low of $41.88 and a twelve month high of $67.18.

Insiders Place Their Bets

In other news, Director James D. Hope acquired 2,067 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was bought at an average price of $46.01 per share, with a total value of $95,102.67. Following the acquisition, the director owned 11,805 shares in the company, valued at $543,148.05. The trade was a 21.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Core & Main

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. purchased a new stake in shares of Core & Main during the 4th quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its stake in Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 269 shares in the last quarter. Whittier Trust Co. purchased a new position in Core & Main in the 4th quarter valued at approximately $28,000. Cubist Systematic Strategies LLC raised its holdings in Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after acquiring an additional 524 shares during the period. Finally, Quarry LP bought a new stake in Core & Main during the 4th quarter valued at $38,000. Institutional investors 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.