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

Core & Main, Inc. (NYSE:CNM) has been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $57.7273.

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Barclays lowered their target price on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Citigroup lowered their target price on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, June 11th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $24.00 target price on shares of Core & Main in a report on Thursday, June 11th.

Insiders Place Their Bets

In related news, Director James D. Hope acquired 1,972 shares of the firm’s stock in a transaction on Tuesday, April 7th. The shares were purchased at an average cost of $50.70 per share, for a total transaction of $99,980.40. Following the completion of the acquisition, the director directly owned 6,939 shares in the company, valued at approximately $351,807.30. This trade represents a 39.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $52.54, for a total transaction of $262,700.00. Following the completion of the transaction, the chief financial officer owned 12,500 shares in the company, valued at approximately $656,750. This represents a 28.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Core & Main

Institutional investors have recently modified their holdings of the business. Morgan Stanley lifted its holdings in shares of Core & Main by 8.3% in the fourth quarter. Morgan Stanley now owns 14,586,859 shares of the company’s stock worth $758,079,000 after acquiring an additional 1,118,145 shares during the last quarter. Capital World Investors lifted its holdings in shares of Core & Main by 5.8% in the fourth quarter. Capital World Investors now owns 6,292,740 shares of the company’s stock worth $327,034,000 after acquiring an additional 344,606 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Core & Main by 15.3% in the first quarter. First Trust Advisors LP now owns 6,130,840 shares of the company’s stock worth $302,863,000 after acquiring an additional 812,770 shares during the last quarter. State Street Corp lifted its holdings in shares of Core & Main by 1.0% in the fourth quarter. State Street Corp now owns 5,733,516 shares of the company’s stock worth $297,971,000 after acquiring an additional 54,562 shares during the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings in shares of Core & Main by 12.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 5,688,595 shares of the company’s stock worth $295,636,000 after acquiring an additional 632,077 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Core & Main Stock Up 1.5%

Shares of NYSE CNM opened at $48.98 on Friday. The firm has a market capitalization of $9.48 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.67 and a beta of 0.91. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00. Core & Main has a 1 year low of $43.96 and a 1 year high of $67.18. The firm’s 50-day moving average is $48.96 and its 200-day moving average is $52.03.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Wednesday, June 10th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.19. Core & Main had a net margin of 5.87% and a return on equity of 26.17%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the firm earned $0.52 EPS. Core & Main’s quarterly revenue was down .1% compared to the same quarter last year. Equities analysts expect that Core & Main will post 3.06 EPS for the current year.

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.