Core & Main (NYSE:CNM) PT Raised to $38.00

Core & Main (NYSE:CNM) had its target price lifted by investment analysts at Robert W. Baird from $34.00 to $38.00 in a report released on Thursday, FlyOnTheWall reports. Robert W. Baird’s price objective would indicate a potential upside of 28.38% from the stock’s current price.

Other research analysts also recently issued reports about the company. Barclays upped their target price on Core & Main from $37.00 to $38.00 in a research note on Thursday, July 13th. Truist Financial upped their target price on Core & Main from $24.00 to $29.00 in a research note on Thursday, June 8th. Deutsche Bank Aktiengesellschaft upped their target price on Core & Main from $42.00 to $44.00 in a research note on Monday, June 12th. Loop Capital increased their price objective on Core & Main from $33.00 to $38.00 in a research note on Friday, August 11th. Finally, Royal Bank of Canada increased their price objective on Core & Main from $26.00 to $33.00 in a research note on Wednesday, June 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Core & Main has an average rating of “Moderate Buy” and an average price target of $36.20.

Core & Main Trading Down 0.7 %

Core & Main stock opened at $29.60 on Thursday. The company has a current ratio of 2.71, a quick ratio of 1.42 and a debt-to-equity ratio of 0.72. Core & Main has a 12 month low of $18.75 and a 12 month high of $33.32. The stock’s 50 day simple moving average is $31.54 and its two-hundred day simple moving average is $27.48. The firm has a market cap of $6.84 billion, a PE ratio of 14.02 and a beta of 0.91.

Core & Main (NYSE:CNM) last announced its earnings results on Wednesday, September 6th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. Core & Main had a return on equity of 15.57% and a net margin of 5.45%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 earnings per share. Analysts anticipate that Core & Main will post 1.99 earnings per share for the current year.

Insiders Place Their Bets

In other Core & Main news, major shareholder Cd&R Investment Associates X, sold 17,125,728 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $28.21, for a total value of $483,116,786.88. The sale was disclosed in a 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 17,125,728 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $28.21, for a total value of $483,116,786.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura K. Schneider sold 49,904 shares of the firm’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $30.03, for a total value of $1,498,617.12. Following the completion of the sale, the insider now directly owns 9,672 shares of the company’s stock, valued at $290,450.16. The disclosure for this sale can be found here. Insiders sold 17,200,632 shares of company stock valued at $485,414,404 in the last three months. 3.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Core & Main

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Core & Main by 18.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,138,872 shares of the company’s stock worth $139,597,000 after purchasing an additional 948,508 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Core & Main by 46.7% during the 1st quarter. Victory Capital Management Inc. now owns 5,861,843 shares of the company’s stock worth $135,409,000 after purchasing an additional 1,866,639 shares during the period. Norges Bank purchased a new position in shares of Core & Main during the 4th quarter worth $108,023,000. Amundi grew its holdings in shares of Core & Main by 34.2% during the 4th quarter. Amundi now owns 4,675,562 shares of the company’s stock worth $91,317,000 after purchasing an additional 1,192,629 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of Core & Main by 7.4% during the 2nd quarter. BlackRock Inc. now owns 4,152,165 shares of the company’s stock worth $130,129,000 after purchasing an additional 285,251 shares during the period. 94.19% of the stock is currently 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 accessories, installation, software, and other services.