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

Shares of Core & Main, Inc. (NYSE:CNM) have earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $50.08.

A number of research firms have recently weighed in on CNM. Loop Capital upped their price target on shares of Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Royal Bank of Canada lifted their price target on shares of Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Truist Financial reissued a “hold” rating and set a $38.00 price target on shares of Core & Main in a research note on Wednesday, March 20th. Barclays raised their target price on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Finally, Citigroup cut Core & Main from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $63.00 to $64.00 in a report on Friday, April 5th.

Core & Main Stock Down 1.3 %

CNM stock opened at $54.74 on Thursday. Core & Main has a one year low of $24.54 and a one year high of $60.83. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.30 and a current ratio of 2.29. The company has a fifty day moving average of $51.50 and a 200-day moving average of $41.44. The stock has a market capitalization of $11.02 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.71 and a beta of 1.15.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the firm earned $0.31 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, analysts expect that Core & Main will post 2.59 EPS for the current year.

Insider Activity

In related news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $40.98, for a total transaction of $938,762,258.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Core & Main news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $40.98, for a total value of $938,762,258.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark R. Witkowski sold 50,000 shares of Core & Main stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $58.51, for a total transaction of $2,925,500.00. Following the sale, the chief financial officer now owns 23,898 shares in the company, valued at approximately $1,398,271.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,363,315 shares of company stock valued at $960,746,759. Company insiders own 3.49% of the company’s stock.

Hedge Funds Weigh In On Core & Main

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNM. Rise Advisors LLC acquired a new position in shares of Core & Main in the 1st quarter valued at approximately $27,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Core & Main during the 3rd quarter worth $28,000. Harbor Investment Advisory LLC bought a new stake in shares of Core & Main in the 3rd quarter worth about $33,000. Quadrant Capital Group LLC raised its stake in shares of Core & Main by 74.5% in the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. Finally, Money Concepts Capital Corp bought a new position in shares of Core & Main during the fourth quarter worth about $39,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

About Core & Main

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.