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

Core & Main, Inc. (NYSE:CNM) has been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $59.55.

Several brokerages recently issued reports on CNM. Royal Bank of Canada raised their target price on Core & Main from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 10th. Wells Fargo & Company raised their target price on Core & Main from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research report on Tuesday, April 1st. They set a “buy” rating and a $60.00 target price for the company. Loop Capital raised their target price on Core & Main from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. raised their target price on Core & Main from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th.

Core & Main Stock Down 0.4%

CNM stock opened at $55.90 on Tuesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The stock has a market capitalization of $11.06 billion, a P/E ratio of 26.25, a P/E/G ratio of 2.61 and a beta of 1.02. The business has a 50-day moving average of $53.17 and a 200-day moving average of $52.13. Core & Main has a fifty-two week low of $37.22 and a fifty-two week high of $60.38.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.84 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 earnings per share. On average, sell-side analysts anticipate that Core & Main will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Core & Main

In related news, General Counsel Mark G. Whittenburg sold 49,100 shares of Core & Main stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $60.03, for a total value of $2,947,473.00. Following the sale, the general counsel now owns 9,691 shares of the company’s stock, valued at approximately $581,750.73. The trade was a 83.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Laura K. Schneider sold 45,695 shares of Core & Main stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the completion of the transaction, the insider now owns 12,873 shares of the company’s stock, valued at $724,106.25. This represents a 78.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,666 shares of company stock worth $8,770,352. Insiders own 3.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Core & Main by 8.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 854,095 shares of the company’s stock worth $41,261,000 after acquiring an additional 67,351 shares in the last quarter. Sciencast Management LP boosted its holdings in shares of Core & Main by 130.0% during the first quarter. Sciencast Management LP now owns 48,826 shares of the company’s stock worth $2,359,000 after purchasing an additional 27,599 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Core & Main by 23.1% during the first quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company’s stock worth $14,106,000 after purchasing an additional 54,854 shares during the period. UniSuper Management Pty Ltd purchased a new stake in shares of Core & Main during the first quarter worth about $1,522,000. Finally, Millennium Management LLC boosted its holdings in shares of Core & Main by 36.9% during the first quarter. Millennium Management LLC now owns 636,956 shares of the company’s stock worth $30,771,000 after purchasing an additional 171,784 shares during the period. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.