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

Core & Main, Inc. (NYSE:CNM) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $50.08.

A number of equities analysts have recently commented on the stock. Barclays increased their price objective on shares of Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. raised their price target on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Loop Capital upped their price objective on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Royal Bank of Canada raised their target price on shares of Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Finally, Truist Financial restated a “hold” rating and set a $38.00 target price on shares of Core & Main in a report on Wednesday, March 20th.

Insider Transactions at Core & Main

In related news, CFO Mark R. Witkowski sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $58.51, for a total transaction of $2,925,500.00. Following the transaction, the chief financial officer now directly owns 23,898 shares of the company’s stock, valued at $1,398,271.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $40.98, for a total value of $938,762,258.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark R. Witkowski sold 50,000 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $58.51, for a total transaction of $2,925,500.00. Following the sale, the chief financial officer now owns 23,898 shares in the company, valued at $1,398,271.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,363,315 shares of company stock valued at $960,746,759. 3.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CNM. JPMorgan Chase & Co. lifted its position in shares of Core & Main by 83.9% during the 1st quarter. JPMorgan Chase & Co. now owns 114,575 shares of the company’s stock worth $2,772,000 after buying an additional 52,285 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Core & Main by 68.4% in the 1st quarter. Bank of New York Mellon Corp now owns 134,101 shares of the company’s stock valued at $3,245,000 after purchasing an additional 54,460 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Core & Main during the 1st quarter valued at approximately $1,208,000. Acadian Asset Management LLC acquired a new position in Core & Main during the 1st quarter worth approximately $364,000. Finally, MetLife Investment Management LLC bought a new position in Core & Main in the 1st quarter valued at approximately $58,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Stock Performance

CNM opened at $54.74 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30. The company has a market capitalization of $11.02 billion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 1.71 and a beta of 1.15. The business’s 50-day moving average price is $51.50 and its two-hundred day moving average price is $41.44. Core & Main has a 1 year low of $24.54 and a 1 year high of $60.83.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. Equities analysts expect that Core & Main will post 2.59 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.