Core & Main, Inc. (NYSE:CNM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Core & Main, Inc. (NYSE:CNM) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $57.7273.

Several research firms have recently issued reports on CNM. Deutsche Bank Aktiengesellschaft cut their price objective 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. The Goldman Sachs Group reissued a “neutral” rating and set a $24.00 target price on shares of Core & Main in a research report on Thursday, June 11th. Citigroup dropped their target price on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Finally, Barclays cut their price target on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th.

Insiders Place Their Bets

In related news, CFO Robyn L. Bradbury sold 5,000 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $52.54, for a total value of $262,700.00. Following the completion of the transaction, the chief financial officer owned 12,500 shares in the company, valued at $656,750. This trade represents a 28.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope purchased 1,972 shares of the stock in a transaction on Tuesday, April 7th. The shares were purchased at an average cost of $50.70 per share, with a total value of $99,980.40. Following the transaction, the director owned 6,939 shares in the company, valued at $351,807.30. This trade represents a 39.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CNM. TD Waterhouse Canada Inc. acquired a new stake in shares of Core & Main during the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC increased its holdings in Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after buying an additional 269 shares during the period. Whittier Trust Co. acquired a new position in Core & Main in the 4th quarter worth approximately $28,000. Cubist Systematic Strategies LLC increased its holdings in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after buying an additional 524 shares during the period. Finally, Quarry LP purchased a new position in Core & Main during the 4th quarter worth approximately $38,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Price Performance

Shares of NYSE CNM opened at $44.90 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 2.31. The company has a market cap of $8.69 billion, a PE ratio of 19.03, a P/E/G ratio of 1.56 and a beta of 0.91. The business has a 50-day simple moving average of $48.56 and a two-hundred day simple moving average of $51.76. Core & Main has a fifty-two week low of $43.96 and a fifty-two week high of $67.18.

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.