James Hope Acquires 2,067 Shares of Core & Main (NYSE:CNM) Stock

Core & Main, Inc. (NYSE:CNM) Director James Hope bought 2,067 shares of Core & Main stock in a transaction dated Monday, July 6th. The shares were bought at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the completion of the acquisition, the director owned 11,805 shares in the company, valued at $543,148.05. This represents a 21.23% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Core & Main Stock Down 0.9%

Shares of NYSE CNM opened at $45.17 on Friday. The stock has a market capitalization of $8.74 billion, a P/E ratio of 19.14, a PEG ratio of 1.58 and a beta of 0.91. The stock’s fifty day moving average is $48.25 and its 200 day moving average is $51.50. Core & Main, Inc. has a 52 week low of $43.96 and a 52 week high of $67.18. 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 institutional investors and hedge funds have recently made changes to their positions in CNM. Dynamic Advisor Solutions LLC acquired a new position in Core & Main during the 2nd quarter worth approximately $335,000. GAMMA Investing LLC boosted its position in Core & Main by 14.1% in the second quarter. GAMMA Investing LLC now owns 5,471 shares of the company’s stock valued at $264,000 after buying an additional 677 shares in the last quarter. Edgestream Partners L.P. grew its stake in shares of Core & Main by 818.0% during the first quarter. Edgestream Partners L.P. now owns 201,577 shares of the company’s stock worth $9,958,000 after buying an additional 179,618 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Core & Main by 42.3% during the first quarter. EverSource Wealth Advisors LLC now owns 2,389 shares of the company’s stock worth $118,000 after buying an additional 710 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Core & Main by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 219,934 shares of the company’s stock valued at $10,865,000 after acquiring an additional 40,050 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.