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

Shares of Core & Main, Inc. (NYSE:CNM) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $61.6364.

Several analysts have issued reports on CNM shares. Barclays reduced their price target on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Finally, Zacks Research downgraded shares of Core & Main from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th.

Core & Main Price Performance

Shares of NYSE:CNM opened at $52.08 on Tuesday. The business’s 50 day simple moving average is $49.66 and its 200-day simple moving average is $51.89. The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 1.87 and a beta of 0.91. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.63 and a quick ratio of 1.51. Core & Main has a 12 month low of $43.96 and a 12 month high of $67.18.

Insider Activity at Core & Main

In other news, Director James D. Hope acquired 1,972 shares of Core & Main stock in a transaction that occurred on Tuesday, April 7th. The shares were acquired at an average price of $50.70 per share, with a total value of $99,980.40. Following the completion of the purchase, the director owned 6,939 shares of the company’s stock, valued at approximately $351,807.30. This represents a 39.70% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robyn L. Bradbury sold 5,000 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $52.54, for a total transaction of $262,700.00. Following the transaction, the chief financial officer directly owned 12,500 shares in the company, valued at approximately $656,750. This represents a 28.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Core & Main

Several large investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC grew its holdings in Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after purchasing an additional 524 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Core & Main during the 1st quarter valued at $396,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Core & Main by 36.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,576 shares of the company’s stock valued at $1,719,000 after purchasing an additional 9,534 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Core & Main by 23.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company’s stock valued at $14,106,000 after purchasing an additional 54,854 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Core & Main by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 269 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Company Profile

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.