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

Core & Main, Inc. (NYSE:CNM) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $52.90.

CNM has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $60.00 target price on shares of Core & Main in a research report on Wednesday, June 5th. Truist Financial decreased their target price on Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a research report on Wednesday, June 5th. Finally, Citigroup lowered Core & Main from a “buy” rating to a “neutral” rating and raised their target price for the company from $63.00 to $64.00 in a research report on Friday, April 5th.

Insider Activity at Core & Main

In related news, Director James G. Castellano sold 12,500 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $52.22, for a total value of $652,750.00. Following the sale, the director now directly owns 11,769 shares in the company, valued at approximately $614,577.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Core & Main news, Director James G. Castellano sold 12,500 shares of Core & Main stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $52.22, for a total transaction of $652,750.00. Following the completion of the transaction, the director now owns 11,769 shares of the company’s stock, valued at approximately $614,577.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark R. Witkowski sold 50,000 shares of Core & Main stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $59.50, for a total value of $2,975,000.00. Following the transaction, the chief financial officer now directly owns 23,898 shares of the company’s stock, valued at approximately $1,421,931. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,700 shares of company stock worth $3,637,752. Company insiders own 3.49% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC purchased a new position in Core & Main during the 1st quarter valued at about $27,000. ORG Partners LLC purchased a new position in shares of Core & Main during the first quarter worth about $38,000. Quadrant Capital Group LLC grew its holdings in shares of Core & Main by 74.5% during the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Core & Main during the fourth quarter worth about $41,000. Finally, Principal Securities Inc. purchased a new position in shares of Core & Main during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Trading Up 0.9 %

NYSE CNM opened at $53.44 on Friday. The firm has a market capitalization of $10.77 billion, a P/E ratio of 24.97, a PEG ratio of 2.02 and a beta of 1.06. The business has a fifty day simple moving average of $51.64 and a 200 day simple moving average of $51.47. Core & Main has a 12 month low of $27.75 and a 12 month high of $62.15. The company has a current ratio of 2.14, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, June 4th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Core & Main had a net margin of 5.53% and a return on equity of 20.01%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 earnings per share. On average, analysts predict that Core & Main will post 2.32 EPS for the current fiscal year.

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.