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

Shares of Core & Main, Inc. (NYSE:CNM) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $61.6364.

Several brokerages recently commented on CNM. Barclays dropped their target price on Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft dropped their target price on Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Finally, Zacks Research downgraded Core & Main from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th.

Insider Buying and Selling

In other Core & Main news, Director James D. Hope acquired 1,972 shares of the stock in a transaction on Tuesday, April 7th. The stock was purchased at an average price of $50.70 per share, for a total transaction of $99,980.40. Following the purchase, the director directly owned 6,939 shares in the company, valued at $351,807.30. This trade represents a 39.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robyn L. Bradbury sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $52.54, for a total value of $262,700.00. Following the sale, the chief financial officer owned 12,500 shares of the company’s stock, valued at approximately $656,750. This trade represents a 28.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Core & Main

A number of hedge funds have recently bought and sold shares of the business. Edgestream Partners L.P. grew its stake in Core & Main by 818.0% during the 1st quarter. Edgestream Partners L.P. now owns 201,577 shares of the company’s stock valued at $9,958,000 after purchasing an additional 179,618 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Core & Main by 42.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,389 shares of the company’s stock valued at $118,000 after purchasing an additional 710 shares in the last quarter. California State Teachers Retirement System grew its stake in Core & Main by 22.3% during the 1st quarter. California State Teachers Retirement System now owns 219,934 shares of the company’s stock valued at $10,865,000 after purchasing an additional 40,050 shares in the last quarter. Quantinno Capital Management LP grew its stake in Core & Main by 70.0% during the 1st quarter. Quantinno Capital Management LP now owns 82,771 shares of the company’s stock valued at $4,089,000 after purchasing an additional 34,090 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in Core & Main by 158.4% during the 1st quarter. Lazard Asset Management LLC now owns 13,703 shares of the company’s stock valued at $677,000 after purchasing an additional 8,400 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Performance

Shares of NYSE:CNM opened at $49.10 on Tuesday. The company has a market cap of $9.56 billion, a P/E ratio of 21.26, a PEG ratio of 1.78 and a beta of 0.91. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.51 and a current ratio of 2.63. Core & Main has a one year low of $43.96 and a one year high of $67.18. The business’s 50-day simple moving average is $49.46 and its 200 day simple moving average is $51.82.

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.