Core & Main, Inc. (NYSE:CNM) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Core & Main, Inc. (NYSE:CNM) have been assigned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $57.30.

Several equities research analysts have issued reports on CNM shares. The Goldman Sachs Group raised their price objective on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Royal Bank of Canada reissued an “outperform” rating and set a $62.00 price target (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Truist Financial boosted their price target on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Loop Capital increased their price objective on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their target price on shares of Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th.

Core & Main Stock Up 0.7 %

CNM opened at $57.22 on Friday. The stock’s fifty day simple moving average is $50.81 and its 200 day simple moving average is $48.13. Core & Main has a 1-year low of $37.22 and a 1-year high of $62.15. The stock has a market cap of $11.37 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 3.05 and a beta of 1.02. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. As a group, research analysts expect that Core & Main will post 2.16 earnings per share for the current year.

Insider Activity at Core & Main

In other Core & Main news, Director Margaret Newman sold 15,000 shares of the company’s stock in a transaction 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 in the company, valued at $650,237.25. This represents a 56.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of Core & Main stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the completion of the transaction, the general counsel now owns 7,667 shares in the company, valued at approximately $423,908.43. The trade was a 20.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 427,426 shares of company stock valued at $22,923,825 over the last quarter. 3.49% of the stock is owned by corporate insiders.

Institutional Trading of Core & Main

Several institutional investors and hedge funds have recently modified their holdings of CNM. DekaBank Deutsche Girozentrale lifted its stake in Core & Main by 55.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 22,494 shares of the company’s stock valued at $1,129,000 after purchasing an additional 8,065 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Core & Main by 153.8% during the second quarter. Envestnet Asset Management Inc. now owns 126,729 shares of the company’s stock worth $6,202,000 after buying an additional 76,804 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Core & Main in the 2nd quarter valued at $76,000. Dimensional Fund Advisors LP boosted its holdings in shares of Core & Main by 15.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,818,679 shares of the company’s stock valued at $89,007,000 after acquiring an additional 238,469 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Core & Main by 5.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 13,247 shares of the company’s stock valued at $648,000 after acquiring an additional 705 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

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.