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

Shares of Core & Main, Inc. (NYSE:CNM) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $57.60.

A number of research analysts have recently issued reports on CNM shares. Royal Bank of Canada reissued an “outperform” rating and issued a $62.00 price objective (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Robert W. Baird boosted their price objective on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Loop Capital boosted their price objective on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Truist Financial boosted their target price on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th.

Insiders Place Their Bets

In other Core & Main news, Director Margaret Newman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $55.25, for a total transaction of $828,750.00. Following the completion of the sale, the director now directly owns 11,769 shares of the company’s stock, valued at approximately $650,237.25. The trade was a 56.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total value of $109,142.46. Following the sale, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. This represents a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 452,426 shares of company stock valued at $24,285,825. Corporate insiders own 3.49% of the company’s stock.

Hedge Funds Weigh In On Core & Main

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Core & Main by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock worth $927,580,000 after buying an additional 221,970 shares during the last quarter. FMR LLC boosted its stake in shares of Core & Main by 4.1% in the 4th quarter. FMR LLC now owns 9,055,993 shares of the company’s stock worth $461,041,000 after buying an additional 358,909 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Core & Main by 0.8% in the 4th quarter. Invesco Ltd. now owns 5,926,569 shares of the company’s stock worth $301,722,000 after buying an additional 44,513 shares during the last quarter. State Street Corp boosted its stake in shares of Core & Main by 9.7% in the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company’s stock worth $245,177,000 after buying an additional 489,224 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Core & Main by 1.0% in the 3rd quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock worth $188,710,000 after buying an additional 41,521 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Stock Up 0.3 %

Shares of NYSE:CNM opened at $54.22 on Wednesday. The firm has a market cap of $10.77 billion, a P/E ratio of 25.46, a P/E/G ratio of 2.75 and a beta of 1.03. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main has a 12-month low of $37.22 and a 12-month high of $62.15. The business has a fifty day simple moving average of $53.40 and a 200 day simple moving average of $48.56.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period last year, the company earned $0.65 EPS. Core & Main’s revenue for the quarter was up 11.5% compared to the same quarter last year. Analysts predict that Core & Main will post 2.16 earnings per share for the current 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.