Truist Financial reaffirmed their hold rating on shares of Core & Main (NYSE:CNM – Free Report) in a report published on Wednesday, Benzinga reports. The brokerage currently has a $38.00 price objective on the stock.
Other equities analysts also recently issued research reports about the company. Barclays increased their price objective on Core & Main from $49.00 to $65.00 and gave the stock an overweight rating in a report on Wednesday. The Goldman Sachs Group increased their price target on Core & Main from $38.00 to $42.00 and gave the company a neutral rating in a report on Thursday, December 14th. Citigroup upgraded Core & Main from a neutral rating to a buy rating and increased their price target for the company from $38.00 to $48.00 in a report on Monday, January 8th. JPMorgan Chase & Co. increased their price target on Core & Main from $38.00 to $54.00 and gave the company an overweight rating in a report on Tuesday. Finally, Loop Capital increased their price target on Core & Main from $58.00 to $64.00 and gave the company a buy rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $47.17.
View Our Latest Stock Analysis on CNM
Core & Main Price Performance
NYSE CNM opened at $55.50 on Wednesday. The company has a 50 day simple moving average of $44.82 and a 200-day simple moving average of $37.40. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.36 and a quick ratio of 1.46. The firm has a market capitalization of $12.00 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 2.42 and a beta of 1.11. Core & Main has a 52-week low of $20.62 and a 52-week high of $55.81.
Core & Main (NYSE:CNM – Get Free Report) last released its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. Core & Main had a return on equity of 16.03% and a net margin of 5.46%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. Equities research analysts predict that Core & Main will post 2.3 earnings per share for the current fiscal year.
Insider Activity
In other Core & Main news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of Core & Main stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $40.98, for a total transaction of $938,762,258.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Core & Main news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of Core & Main stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $40.98, for a total transaction of $938,762,258.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP John Weldon Stephens sold 1,100 shares of Core & Main stock in a transaction on Monday, March 4th. The stock was sold at an average price of $50.02, for a total transaction of $55,022.00. Following the sale, the vice president now owns 3,468 shares in the company, valued at approximately $173,469.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,269,043 shares of company stock valued at $1,832,498,260. 3.49% of the stock is owned by company insiders.
Institutional Investors Weigh In On Core & Main
Institutional investors and hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Core & Main in the 3rd quarter valued at $28,000. Penserra Capital Management LLC acquired a new stake in shares of Core & Main in the 2nd quarter valued at $31,000. Harbor Investment Advisory LLC acquired a new stake in shares of Core & Main in the 3rd quarter valued at $33,000. Quadrant Capital Group LLC boosted its stake in shares of Core & Main by 74.5% in the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. Finally, Money Concepts Capital Corp acquired a new stake in shares of Core & Main in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 94.19% of the company’s stock.
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 portfolio 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, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.
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Source: defenseworld.net
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