Core & Main (NYSE:CNM) Director James Hope Purchases 2,067 Shares

Core & Main, Inc. (NYSE:CNM) Director James Hope bought 2,067 shares of the stock in a transaction on Monday, July 6th. The stock was purchased 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 directly owned 11,805 shares in the company, valued at $543,148.05. This trade represents a 21.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Core & Main Trading Up 0.1%

Shares of CNM opened at $45.78 on Thursday. Core & Main, Inc. has a fifty-two week low of $43.96 and a fifty-two week high of $67.18. The company has a market capitalization of $8.86 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.59 and a beta of 0.91. The stock has a fifty day moving average of $48.34 and a two-hundred day moving average of $51.56. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 2.31.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CNM. Cubist Systematic Strategies LLC increased its position in shares of Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after acquiring an additional 524 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Core & Main during the 1st quarter valued at $396,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 worth $1,719,000 after purchasing an additional 9,534 shares during the period. Goldman Sachs Group Inc. increased its holdings in Core & Main by 23.1% in 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 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 valued at $27,000 after purchasing an additional 269 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on CNM. Citigroup reduced their target price on Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $24.00 price target on shares of Core & Main in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Finally, Barclays decreased their target price on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.73.

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.