Shares of Core & Main, Inc. (NYSE:CNM – Get Rating) have received an average rating of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $29.30.
Several equities research analysts recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Core & Main from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, September 14th. Royal Bank of Canada boosted their price target on shares of Core & Main from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, September 15th. Barclays upped their price target on shares of Core & Main to $31.00 in a research note on Tuesday. Citigroup lifted their price objective on shares of Core & Main from $25.00 to $26.00 in a research note on Wednesday, September 14th. Finally, Truist Financial increased their target price on Core & Main from $25.00 to $28.00 and gave the stock a “hold” rating in a research report on Wednesday, September 14th.
Insider Buying and Selling
In other news, CEO Stephen O. Leclair sold 14,730 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $24.54, for a total value of $361,474.20. Following the completion of the transaction, the chief executive officer now directly owns 35,742 shares in the company, valued at approximately $877,108.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Mark G. Whittenburg sold 6,179 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $24.79, for a total transaction of $153,177.41. Following the transaction, the general counsel now owns 5,286 shares of the company’s stock, valued at approximately $131,039.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Stephen O. Leclair sold 14,730 shares of Core & Main stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $24.54, for a total transaction of $361,474.20. Following the completion of the transaction, the chief executive officer now owns 35,742 shares in the company, valued at approximately $877,108.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,537 shares of company stock worth $2,592,657. Corporate insiders own 1.20% of the company’s stock.
Hedge Funds Weigh In On Core & Main
Several institutional investors and hedge funds have recently bought and sold shares of CNM. Los Angeles Capital Management LLC boosted its stake in shares of Core & Main by 1.7% during the second quarter. Los Angeles Capital Management LLC now owns 34,066 shares of the company’s stock valued at $760,000 after purchasing an additional 575 shares during the period. Captrust Financial Advisors boosted its position in Core & Main by 3.8% during the 2nd quarter. Captrust Financial Advisors now owns 19,074 shares of the company’s stock valued at $425,000 after buying an additional 703 shares during the period. Islay Capital Management LLC grew 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 last quarter. Assetmark Inc. grew its holdings in Core & Main by 155.2% in 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. raised its stake in shares of 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 last quarter. 94.93% of the stock is currently owned by institutional investors.
Core & Main Trading Down 2.0 %
Shares of CNM stock opened at $23.36 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 2.28 and a debt-to-equity ratio of 0.74. The firm has a market cap of $5.74 billion, a P/E ratio of 12.70, a PEG ratio of 0.90 and a beta of 1.08. The company has a 50 day moving average of $23.66 and a 200-day moving average of $23.28. Core & Main has a 12-month low of $20.00 and a 12-month high of $32.54.
Core & Main (NYSE:CNM – Get Rating) last announced its quarterly earnings data on Tuesday, September 13th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.16. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.65 billion. Core & Main had a return on equity of 23.39% and a net margin of 5.13%. Core & Main’s revenue was up 43.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. Sell-side analysts anticipate that Core & Main will post 1.86 earnings per share for the current 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 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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