Core & Main, Inc. (NYSE:CNM) Receives $61.64 Consensus Price Target from Analysts

Core & Main, Inc. (NYSE:CNM) has received a consensus rating of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $61.6364.

Several research analysts have weighed in on the company. Zacks Research lowered Core & Main from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Barclays reduced their target price on Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th.

Core & Main Stock Performance

CNM stock opened at $52.41 on Tuesday. The business’s 50-day moving average price is $49.63 and its two-hundred day moving average price is $51.89. The company has a current ratio of 2.63, a quick ratio of 1.51 and a debt-to-equity ratio of 1.02. The firm has a market cap of $10.20 billion, a PE ratio of 22.69, a P/E/G ratio of 1.87 and a beta of 0.91. Core & Main has a 1-year low of $43.96 and a 1-year high of $67.18.

Insider Transactions at Core & Main

In other news, Director James D. Hope purchased 1,972 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were bought at an average cost of $50.70 per share, for a total transaction of $99,980.40. Following the completion of the acquisition, the director directly owned 6,939 shares in the company, valued at approximately $351,807.30. This trade represents a 39.70% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $52.54, for a total value of $262,700.00. Following the completion of the sale, the chief financial officer owned 12,500 shares in the company, valued at approximately $656,750. This trade represents a 28.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.51% of the company’s stock.

Institutional Trading of Core & Main

A number of institutional investors have recently modified their holdings of CNM. Capital World Investors lifted its holdings in shares of Core & Main by 294.9% in the third quarter. Capital World Investors now owns 5,948,134 shares of the company’s stock valued at $320,188,000 after purchasing an additional 4,442,047 shares in the last quarter. Norges Bank bought a new stake in shares of Core & Main in the fourth quarter valued at about $108,265,000. Holocene Advisors LP bought a new stake in shares of Core & Main in the third quarter valued at about $100,765,000. First Trust Advisors LP lifted its holdings in shares of Core & Main by 38.6% in the fourth quarter. First Trust Advisors LP now owns 5,318,070 shares of the company’s stock valued at $276,380,000 after purchasing an additional 1,482,235 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Core & Main in the third quarter valued at about $67,284,000. 94.19% of the stock is currently owned by institutional investors.

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.