Shares of Core & Main, Inc. (NYSE:CNM – Get Rating) have earned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $28.80.
A number of equities research analysts have recently weighed in on CNM shares. Royal Bank of Canada dropped their price target on Core & Main from $31.00 to $28.00 in a research note on Wednesday, June 15th. Credit Suisse Group set a $29.00 target price on Core & Main in a research report on Tuesday, July 19th. Truist Financial dropped their target price on Core & Main from $28.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, June 16th. The Goldman Sachs Group dropped their target price on Core & Main from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 15th. Finally, Barclays dropped their target price on Core & Main from $29.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th.
Core & Main Stock Performance
Shares of Core & Main stock opened at $24.66 on Friday. The company has a market capitalization of $6.06 billion and a PE ratio of 23.94. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.07 and a current ratio of 2.07. The company has a 50-day simple moving average of $22.98 and a two-hundred day simple moving average of $23.06. Core & Main has a one year low of $20.00 and a one year high of $32.54.
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Core & Main (NYSE:CNM – Get Rating) last announced its earnings results on Tuesday, June 14th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.35. Core & Main had a net margin of 4.05% and a return on equity of 19.33%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.44 billion. Research analysts expect that Core & Main will post 1.62 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Stephen O. Leclair sold 25,270 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $24.61, for a total transaction of $621,894.70. Following the completion of the transaction, the chief executive officer now directly owns 35,742 shares of the company’s stock, valued at approximately $879,610.62. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Stephen O. Leclair sold 25,270 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $24.61, for a total transaction of $621,894.70. Following the completion of the transaction, the chief executive officer now directly owns 35,742 shares of the company’s stock, valued at approximately $879,610.62. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Stephen O. Leclair sold 14,730 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $24.54, for a total value of $361,474.20. Following the transaction, the chief executive officer now directly owns 35,742 shares of the company’s stock, valued at $877,108.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,475 shares of company stock worth $1,267,781. Corporate insiders own 1.20% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Select Equity Group L.P. grew its holdings in Core & Main by 35.0% in the 1st quarter. Select Equity Group L.P. now owns 11,639,083 shares of the company’s stock valued at $281,549,000 after buying an additional 3,018,351 shares in the last quarter. Vanguard Group Inc. grew its holdings in Core & Main by 58.6% in the 1st quarter. Vanguard Group Inc. now owns 4,472,479 shares of the company’s stock valued at $108,189,000 after buying an additional 1,652,035 shares in the last quarter. Pictet Asset Management SA grew its holdings in Core & Main by 0.9% in the 4th quarter. Pictet Asset Management SA now owns 4,139,980 shares of the company’s stock valued at $125,607,000 after buying an additional 37,585 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Core & Main by 35.7% in the 1st quarter. Victory Capital Management Inc. now owns 3,066,930 shares of the company’s stock valued at $74,189,000 after buying an additional 807,045 shares in the last quarter. Finally, Robeco Schweiz AG grew its holdings in Core & Main by 15.5% in the 2nd quarter. Robeco Schweiz AG now owns 2,480,878 shares of the company’s stock valued at $55,324,000 after buying an additional 333,278 shares in the last quarter. 95.48% of the stock is owned by institutional investors and hedge funds.
Core & Main Company Profile
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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