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

Shares of Core & Main, Inc. (NYSE:CNM) have been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $61.6364.

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Barclays decreased 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. Finally, Zacks Research cut shares of Core & Main from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th.

Core & Main Trading Up 1.5%

Shares of NYSE CNM opened at $48.09 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.63 and a quick ratio of 1.51. The stock has a market capitalization of $9.36 billion, a P/E ratio of 20.82, a price-to-earnings-growth ratio of 1.71 and a beta of 0.93. Core & Main has a 1-year low of $43.96 and a 1-year high of $67.18. The business has a fifty day moving average price of $49.84 and a 200 day moving average price of $52.16.

Insider Buying and Selling

In related news, CFO Robyn L. Bradbury sold 5,000 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $52.54, for a total transaction of $262,700.00. Following the transaction, the chief financial officer directly owned 12,500 shares in the company, valued at $656,750. The trade was a 28.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope bought 1,972 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The shares were acquired at an average price of $50.70 per share, for a total transaction of $99,980.40. Following the completion of the purchase, the director owned 6,939 shares in the company, valued at $351,807.30. The trade was a 39.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Core & Main

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its stake in Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 269 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new position in shares of Core & Main in the fourth quarter worth $26,000. Whittier Trust Co. purchased a new position in shares of Core & Main in the fourth quarter worth $28,000. Cubist Systematic Strategies LLC raised its holdings 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 buying an additional 524 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Core & Main in the fourth quarter worth $38,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

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.