James Hope Purchases 2,067 Shares of Core & Main (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) Director James Hope purchased 2,067 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were purchased at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the purchase, 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 SEC, which is available through this hyperlink.

Core & Main Stock Up 0.1%

CNM stock traded up $0.03 during trading on Wednesday, reaching $45.78. The stock had a trading volume of 2,117,795 shares, compared to its average volume of 2,485,866. 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 firm has a fifty day moving average price of $48.43 and a 200 day moving average price of $51.62. The company has a market capitalization of $8.86 billion, a P/E ratio of 19.40, a PEG ratio of 1.59 and a beta of 0.91. Core & Main, Inc. has a 1-year low of $43.96 and a 1-year high of $67.18.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays reduced their price target on Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft cut their target price on Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Citigroup reduced their target price on Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $24.00 price target on shares of Core & Main in a research report on Thursday, June 11th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.73.

Hedge Funds Weigh In On Core & Main

Hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in Core & Main by 881.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 52,963 shares of the company’s stock valued at $2,752,000 after buying an additional 47,569 shares in the last quarter. Procyon Advisors LLC acquired a new position in shares of Core & Main in the 4th quarter worth approximately $1,779,000. Hudson Bay Capital Management LP acquired a new position in shares of Core & Main in the 3rd quarter worth approximately $14,441,000. HighVista Strategies LLC bought a new stake in shares of Core & Main in the 3rd quarter valued at approximately $1,502,000. Finally, KBC Group NV increased its holdings in shares of Core & Main by 11.6% in the 4th quarter. KBC Group NV now owns 2,618,916 shares of the company’s stock valued at $136,105,000 after acquiring an additional 272,258 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

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.