6. CLEAN WATER AND SANITATION

Core & Main’s (CNM) “Hold” Rating Reaffirmed at Truist Financial

Written by Amanda

Core & Main (NYSE:CNMGet Free Report)‘s stock had its “hold” rating reissued by research analysts at Truist Financial in a note issued to investors on Wednesday, Benzinga reports. They currently have a $38.00 target price on the stock. Truist Financial’s price objective suggests a potential downside of 31.53% from the stock’s previous close.

CNM has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price target on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday. Loop Capital lifted their target price on Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group lifted their target price on Core & Main from $38.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, December 14th. Citigroup raised Core & Main from a “neutral” rating to a “buy” rating and lifted their target price for the company from $38.00 to $48.00 in a research report on Monday, January 8th. Finally, Royal Bank of Canada lifted their target price on Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and a consensus target price of $47.17.

Get Our Latest Research Report on CNM

Core & Main Trading Up 1.9 %

CNM traded up $1.01 during midday trading on Wednesday, reaching $55.50. 3,208,341 shares of the company were exchanged, compared to its average volume of 3,205,044. The stock has a market capitalization of $12.00 billion, a P/E ratio of 25.94, a PEG ratio of 2.42 and a beta of 1.11. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.46 and a current ratio of 2.36. The stock’s 50-day simple moving average is $44.82 and its 200 day simple moving average is $37.40. Core & Main has a one year low of $20.62 and a one year high of $55.81.

Core & Main (NYSE:CNMGet Free Report) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Core & Main had a return on equity of 16.03% and a net margin of 5.46%. Core & Main’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 earnings per share. As a group, analysts forecast that Core & Main will post 2.3 earnings per share for the current fiscal year.

Insider Transactions at Core & Main

In other news, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of Core & Main stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $38.12, for a total transaction of $864,398,751.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of the business’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $38.12, for a total value of $864,398,751.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura K. Schneider sold 100,000 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $40.63, for a total value of $4,063,000.00. Following the completion of the sale, the insider now owns 9,672 shares of the company’s stock, valued at $392,973.36. The disclosure for this sale can be found here. In the last three months, insiders sold 46,269,043 shares of company stock worth $1,832,498,260. 3.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On Core & Main

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNM. Vanguard Group Inc. increased its holdings in Core & Main by 41.4% in the 4th quarter. Vanguard Group Inc. now owns 13,417,484 shares of the company’s stock worth $542,201,000 after purchasing an additional 3,926,588 shares in the last quarter. Wellington Management Group LLP increased its holdings in Core & Main by 486.6% in the 4th quarter. Wellington Management Group LLP now owns 350,547 shares of the company’s stock worth $14,166,000 after purchasing an additional 290,792 shares in the last quarter. American International Group Inc. increased its holdings in Core & Main by 20,185.1% in the 4th quarter. American International Group Inc. now owns 184,594 shares of the company’s stock worth $7,459,000 after purchasing an additional 183,684 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in Core & Main in the 4th quarter worth about $1,414,000. Finally, Quarry LP increased its holdings in Core & Main by 87.0% in the 4th quarter. Quarry LP now owns 1,909 shares of the company’s stock worth $77,000 after purchasing an additional 888 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

About Core & Main

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Core & Main (NYSE:CNM)

Before you consider Core & Main, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Core & Main wasn’t on the list.

While Core & Main currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

(Almost) Everything You Need To Know About The EV Market Cover

Click the link below and we’ll send you MarketBeat’s guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise.

Get This Free Report

Source: marketbeat.com

Core & Main (NYSE:CNMGet Free Report)‘s stock had its “hold” rating reissued by research analysts at Truist Financial in a note issued to investors on Wednesday, Benzinga reports. They currently have a $38.00 target price on the stock. Truist Financial’s price objective suggests a potential downside of 31.53% from the stock’s previous close.

CNM has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price target on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday. Loop Capital lifted their target price on Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group lifted their target price on Core & Main from $38.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, December 14th. Citigroup raised Core & Main from a “neutral” rating to a “buy” rating and lifted their target price for the company from $38.00 to $48.00 in a research report on Monday, January 8th. Finally, Royal Bank of Canada lifted their target price on Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and a consensus target price of $47.17.

Get Our Latest Research Report on CNM

Core & Main Trading Up 1.9 %

CNM traded up $1.01 during midday trading on Wednesday, reaching $55.50. 3,208,341 shares of the company were exchanged, compared to its average volume of 3,205,044. The stock has a market capitalization of $12.00 billion, a P/E ratio of 25.94, a PEG ratio of 2.42 and a beta of 1.11. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.46 and a current ratio of 2.36. The stock’s 50-day simple moving average is $44.82 and its 200 day simple moving average is $37.40. Core & Main has a one year low of $20.62 and a one year high of $55.81.

Core & Main (NYSE:CNMGet Free Report) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Core & Main had a return on equity of 16.03% and a net margin of 5.46%. Core & Main’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 earnings per share. As a group, analysts forecast that Core & Main will post 2.3 earnings per share for the current fiscal year.

Insider Transactions at Core & Main

In other news, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of Core & Main stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $38.12, for a total transaction of $864,398,751.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of the business’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $38.12, for a total value of $864,398,751.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura K. Schneider sold 100,000 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $40.63, for a total value of $4,063,000.00. Following the completion of the sale, the insider now owns 9,672 shares of the company’s stock, valued at $392,973.36. The disclosure for this sale can be found here. In the last three months, insiders sold 46,269,043 shares of company stock worth $1,832,498,260. 3.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On Core & Main

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNM. Vanguard Group Inc. increased its holdings in Core & Main by 41.4% in the 4th quarter. Vanguard Group Inc. now owns 13,417,484 shares of the company’s stock worth $542,201,000 after purchasing an additional 3,926,588 shares in the last quarter. Wellington Management Group LLP increased its holdings in Core & Main by 486.6% in the 4th quarter. Wellington Management Group LLP now owns 350,547 shares of the company’s stock worth $14,166,000 after purchasing an additional 290,792 shares in the last quarter. American International Group Inc. increased its holdings in Core & Main by 20,185.1% in the 4th quarter. American International Group Inc. now owns 184,594 shares of the company’s stock worth $7,459,000 after purchasing an additional 183,684 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in Core & Main in the 4th quarter worth about $1,414,000. Finally, Quarry LP increased its holdings in Core & Main by 87.0% in the 4th quarter. Quarry LP now owns 1,909 shares of the company’s stock worth $77,000 after purchasing an additional 888 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

About Core & Main

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Core & Main (NYSE:CNM)

Before you consider Core & Main, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Core & Main wasn’t on the list.

While Core & Main currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

(Almost) Everything You Need To Know About The EV Market Cover

Click the link below and we’ll send you MarketBeat’s guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise.

Get This Free Report

Source: marketbeat.com

About the author

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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