According to Zacks, “Core & Main Inc. is a specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets. The company’s products and services are used in the maintenance, repair, replacement and construction of water and fire protection infrastructure. Core & Main Inc. is based in St. Louis. “
Other equities analysts also recently issued reports about the stock. Royal Bank of Canada decreased their price objective on shares of Core & Main from $33.00 to $31.00 and set an “outperform” rating on the stock in a report on Thursday, March 31st. Bank of America downgraded shares of Core & Main from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $31.00 to $25.00 in a research note on Thursday, February 17th. Barclays upgraded shares of Core & Main from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $32.00 to $34.00 in a research note on Thursday, March 31st. Finally, Truist Financial decreased their price target on shares of Core & Main from $32.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday, March 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Core & Main presently has an average rating of “Hold” and a consensus target price of $30.69.
Shares of NYSE:CNM traded up $0.31 on Wednesday, hitting $23.91. The company had a trading volume of 657,056 shares, compared to its average volume of 964,826. Core & Main has a 1-year low of $20.00 and a 1-year high of $32.54. The stock has a 50 day moving average price of $23.56 and a 200 day moving average price of $24.67. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.11 and a quick ratio of 1.09.
Core & Main (NYSE:CNM – Get Rating) last released its quarterly earnings data on Wednesday, March 30th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.14 billion. The company’s quarterly revenue was up 49.9% compared to the same quarter last year. Equities analysts expect that Core & Main will post 1.27 earnings per share for the current year.
In other news, VP Jeffrey D. Giles sold 2,600 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $22.12, for a total value of $57,512.00. Following the completion of the transaction, the vice president now owns 4,146 shares of the company’s stock, valued at $91,709.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jeffrey D. Giles sold 30,000 shares of the stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $25.04, for a total transaction of $751,200.00. Following the completion of the transaction, the vice president now directly owns 4,146 shares of the company’s stock, valued at approximately $103,815.84. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of CNM. Advisor Group Holdings Inc. raised its holdings in Core & Main by 2.7% in the 4th quarter. Advisor Group Holdings Inc. now owns 26,083 shares of the company’s stock valued at $790,000 after buying an additional 689 shares during the last quarter. Metropolitan Life Insurance Co NY bought a new position in Core & Main in the 3rd quarter valued at approximately $32,000. UMB Bank N A MO bought a new position in Core & Main in the 1st quarter valued at approximately $37,000. Levin Capital Strategies L.P. raised its holdings in Core & Main by 15.4% in the 1st quarter. Levin Capital Strategies L.P. now owns 15,000 shares of the company’s stock valued at $363,000 after buying an additional 2,000 shares during the last quarter. Finally, UBS Group AG bought a new position in Core & Main in the 3rd quarter valued at approximately $54,000. 95.48% of the stock is owned by hedge funds and other institutional investors.
Core & Main Company Profile (Get Rating)
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 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, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services.
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