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

Core & Main, Inc. (NYSE:CNM) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $57.7273.

CNM has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $24.00 price objective on shares of Core & Main in a report on Thursday, June 11th. Barclays decreased their price objective on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Finally, Citigroup lowered 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.

Insider Activity at Core & Main

In other Core & Main news, Director James D. Hope bought 2,067 shares of Core & Main stock in a transaction dated Monday, July 6th. The stock was bought at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the purchase, the director owned 11,805 shares in the company, valued at $543,148.05. This represents a 21.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Core & Main

Several large investors have recently modified their holdings of the stock. Deutsche Bank AG lifted its position in shares of Core & Main by 1.1% during the 4th quarter. Deutsche Bank AG now owns 17,859 shares of the company’s stock valued at $928,000 after acquiring an additional 190 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Core & Main by 13.8% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,959 shares of the company’s stock worth $109,000 after acquiring an additional 237 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of Core & Main by 4.8% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,726 shares of the company’s stock worth $283,000 after acquiring an additional 261 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Core & Main by 145.4% during the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 269 shares during the period. Finally, Steph & Co. raised its position in shares of Core & Main by 36.6% during the fourth quarter. Steph & Co. now owns 1,037 shares of the company’s stock worth $54,000 after purchasing an additional 278 shares during the period. Institutional investors own 94.19% of the company’s stock.

Core & Main Stock Down 1.2%

NYSE CNM opened at $43.32 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00. Core & Main has a fifty-two week low of $42.50 and a fifty-two week high of $67.18. The business has a 50 day moving average price of $47.55 and a two-hundred day moving average price of $51.01. The stock has a market cap of $8.38 billion, a PE ratio of 18.36, a P/E/G ratio of 1.52 and a beta of 0.91.

About Core & Main

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.