Core & Main, Inc. (NYSE:CNM) Receives $57.73 Average PT from Analysts

Shares of Core & Main, Inc. (NYSE:CNM) have been assigned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $57.7273.

CNM has been the topic of a number of recent analyst reports. Wall Street Zen raised Core & Main from a “hold” rating to a “buy” rating in a research note on Saturday. The Goldman Sachs Group restated a “neutral” rating and issued a $24.00 target price on shares of Core & Main in a research note on Thursday, June 11th. Citigroup cut their price target on Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. Finally, William Blair assumed coverage on shares of Core & Main in a research report on Thursday. They set a “market perform” rating on the stock.

Core & Main Trading Up 1.3%

CNM stock opened at $43.69 on Wednesday. The business has a fifty day moving average price of $47.31 and a 200 day moving average price of $50.83. Core & Main has a fifty-two week low of $42.50 and a fifty-two week high of $67.18. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 1.50 and a beta of 0.91. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31.

Insider Buying and Selling at Core & Main

In related news, Director James D. Hope bought 2,067 shares of the company’s stock in a transaction on Monday, July 6th. The stock was bought at an average cost of $46.01 per share, with a total value of $95,102.67. Following the completion of the purchase, the director owned 11,805 shares in the company, valued at approximately $543,148.05. The trade was a 21.23% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.51% of the company’s stock.

Institutional Trading of Core & Main

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its stake in shares of Core & Main by 881.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 52,963 shares of the company’s stock valued at $2,752,000 after buying an additional 47,569 shares during the period. KBC Group NV lifted its stake in shares of Core & Main by 11.6% during the fourth quarter. KBC Group NV now owns 2,618,916 shares of the company’s stock valued at $136,105,000 after acquiring an additional 272,258 shares during the period. Impax Asset Management Group plc lifted its stake in shares of Core & Main by 10.8% during the fourth quarter. Impax Asset Management Group plc now owns 2,872,595 shares of the company’s stock valued at $149,289,000 after acquiring an additional 279,373 shares during the period. Thomasville National Bank bought a new position in Core & Main in the fourth quarter valued at about $11,112,000. Finally, Oak Thistle LLC bought a new position in Core & Main in the fourth quarter valued at about $509,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

About Core & Main

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.