Core & Main (NYSE:CNM – Get Rating) had its price objective hoisted by equities research analysts at Truist Financial from $25.00 to $28.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential upside of 9.20% from the company’s current price.
Several other equities analysts also recently commented on CNM. Royal Bank of Canada decreased their price objective on shares of Core & Main from $31.00 to $28.00 in a report on Wednesday, June 15th. Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a report on Wednesday, August 17th. They issued a “buy” rating and a $40.00 price objective for the company. Citigroup boosted their target price on shares of Core & Main from $25.00 to $26.00 in a research report on Wednesday. Barclays reduced their price objective on shares of Core & Main from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, July 14th. Finally, Credit Suisse Group boosted their price target on shares of Core & Main from $29.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.10.
Core & Main Stock Up 2.1 %
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Shares of Core & Main stock traded up $0.53 on Wednesday, hitting $25.64. The company had a trading volume of 28,455 shares, compared to its average volume of 754,008. The firm has a market capitalization of $6.30 billion, a P/E ratio of 24.89, a P/E/G ratio of 1.08 and a beta of 1.08. Core & Main has a twelve month low of $20.00 and a twelve month high of $32.54. The stock has a 50-day moving average of $23.49 and a 200-day moving average of $23.21. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.07 and a quick ratio of 1.07.
Core & Main (NYSE:CNM – Get Rating) last released its quarterly earnings results on Tuesday, September 13th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.16. Core & Main had a return on equity of 19.33% and a net margin of 4.05%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm posted $0.10 EPS. The business’s revenue was up 43.4% on a year-over-year basis. Research analysts predict that Core & Main will post 1.62 earnings per share for the current year.
Insider Activity
In related news, General Counsel Mark G. Whittenburg sold 5,296 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $24.78, for a total transaction of $131,234.88. Following the transaction, the general counsel now owns 5,286 shares of the company’s stock, valued at $130,987.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Laura K. Schneider sold 33,333 shares of Core & Main stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $25.08, for a total transaction of $835,991.64. Following the completion of the sale, the insider now directly owns 4,866 shares in the company, valued at approximately $122,039.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Mark G. Whittenburg sold 5,296 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $24.78, for a total value of $131,234.88. Following the completion of the transaction, the general counsel now owns 5,286 shares in the company, valued at approximately $130,987.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,537 shares of company stock worth $2,592,657. Corporate insiders own 1.20% of the company’s stock.
Institutional Trading of Core & Main
Several large investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC boosted its position in Core & Main by 1.7% during the second quarter. Los Angeles Capital Management LLC now owns 34,066 shares of the company’s stock worth $760,000 after purchasing an additional 575 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Core & Main by 3.8% during the 2nd quarter. Captrust Financial Advisors now owns 19,074 shares of the company’s stock worth $425,000 after buying an additional 703 shares during the period. Islay Capital Management LLC raised its holdings in Core & Main by 18.6% in the 2nd quarter. Islay Capital Management LLC now owns 4,901 shares of the company’s stock worth $109,000 after acquiring an additional 770 shares during the period. Assetmark Inc. lifted its position in Core & Main by 155.2% during the 2nd quarter. Assetmark Inc. now owns 1,613 shares of the company’s stock worth $36,000 after acquiring an additional 981 shares during the last quarter. Finally, Pinebridge Investments L.P. boosted its holdings in Core & Main by 6.2% during the second quarter. Pinebridge Investments L.P. now owns 16,960 shares of the company’s stock valued at $378,000 after acquiring an additional 991 shares during the period. 94.93% of the stock is owned by institutional investors.
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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