Core & Main (NYSE:CNM – Get 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:CNM – Get 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
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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