Brokerages Set Core & Main, Inc. (NYSE:CNM) PT at $48.42

Shares of Core & Main, Inc. (NYSE:CNM) have earned an average recommendation of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $50.00.

A number of brokerages have recently weighed in on CNM. Loop Capital upped their target price on Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Truist Financial reiterated a “hold” rating and issued a $38.00 target price on shares of Core & Main in a report on Wednesday, March 20th. Royal Bank of Canada upped their target price on Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. increased their price objective on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group increased their price objective on Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday.

Insiders Place Their Bets

In other Core & Main news, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of the company’s 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $57.91, for a total value of $2,895,500.00. Following the completion of the sale, the general counsel now directly owns 12,933 shares of the company’s stock, valued at $748,950.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $38.12, for a total value of $864,398,751.36. The disclosure for this sale can be found here. Insiders sold 46,334,043 shares of company stock valued at $1,836,262,410 over the last 90 days. 3.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Core & Main

Hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Core & Main in the third quarter valued at approximately $28,000. Penserra Capital Management LLC bought a new stake in shares of Core & Main in the second quarter valued at approximately $31,000. Harbor Investment Advisory LLC bought a new position in Core & Main in the third quarter worth $33,000. Quadrant Capital Group LLC boosted its stake in Core & Main by 74.5% during the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after buying an additional 365 shares in the last quarter. Finally, Money Concepts Capital Corp acquired a new stake in Core & Main during the fourth quarter worth $39,000. 94.19% of the stock is owned by institutional investors.

Core & Main Price Performance

CNM stock opened at $57.23 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. Core & Main has a one year low of $21.75 and a one year high of $58.26. The firm has a market capitalization of $12.37 billion, a PE ratio of 26.62, a P/E/G ratio of 1.85 and a beta of 1.11. The firm has a 50-day moving average of $47.09 and a two-hundred day moving average of $38.60.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS. On average, analysts forecast that Core & Main will post 2.58 earnings per share for the current year.

Core & Main Company Profile

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.