6. CLEAN WATER AND SANITATION

Core & Main, Inc. (NYSE:CNM) Given Consensus Recommendation of “Hold” by Analysts – MarketBeat

Written by Amanda

Core & Main, Inc. (NYSE:CNM) Given Consensus Recommendation of “Hold” by Analysts  MarketBeat

Shares of Core & Main, Inc. (NYSE:CNMGet 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:CNMGet 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

(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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Analyst Recommendations for Core & Main (NYSE:CNM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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Source: marketbeat.com

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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