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

Core & Main, Inc. (NYSE:CNM) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $60.6364.

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Core & Main from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. The Goldman Sachs Group decreased their target price on Core & Main from $68.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Truist Financial decreased their target price on Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, September 11th. Wells Fargo & Company upped their target price on Core & Main from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Finally, Zacks Research lowered Core & Main from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th.

Insider Activity at Core & Main

In other news, CEO Mark R. Witkowski sold 100,000 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $64.08, for a total transaction of $6,408,000.00. Following the transaction, the chief executive officer directly owned 35,847 shares in the company, valued at approximately $2,297,075.76. This represents a 73.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.53% of the company’s stock.

Hedge Funds Weigh In On Core & Main

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Core & Main by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 3,472,477 shares of the company’s stock valued at $209,597,000 after purchasing an additional 18,874 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Core & Main by 0.4% during the 2nd quarter. Bessemer Group Inc. now owns 3,371,475 shares of the company’s stock valued at $203,467,000 after purchasing an additional 14,244 shares during the last quarter. Amundi increased its position in shares of Core & Main by 2.8% during the 2nd quarter. Amundi now owns 3,357,973 shares of the company’s stock valued at $186,955,000 after purchasing an additional 92,355 shares during the last quarter. Fiduciary Management Inc. WI grew its position in Core & Main by 0.3% during the 1st quarter. Fiduciary Management Inc. WI now owns 2,841,734 shares of the company’s stock worth $137,284,000 after acquiring an additional 8,052 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in Core & Main by 14.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 2,823,433 shares of the company’s stock worth $170,394,000 after acquiring an additional 351,219 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Core & Main Stock Performance

Shares of CNM opened at $54.65 on Monday. The stock’s 50-day simple moving average is $55.79 and its 200 day simple moving average is $56.87. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.30 and a current ratio of 2.25. Core & Main has a 52-week low of $41.64 and a 52-week high of $67.18.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, September 9th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 EPS. Core & Main has set its FY 2025 guidance at EPS. Research analysts forecast that Core & Main will post 2.16 EPS for the current fiscal year.

About Core & Main

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.