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

Core & Main, Inc. (NYSE:CNM) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $56.70.

Several equities analysts have recently commented on the company. The Goldman Sachs Group restated a “neutral” rating and issued a $24.00 price objective on shares of Core & Main in a research report on Thursday, June 11th. William Blair assumed coverage on Core & Main in a report on Thursday, July 23rd. They issued a “market perform” rating for the company. Citigroup cut their price target on Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, June 11th. Finally, Wall Street Zen downgraded Core & Main from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th.

Core & Main Trading Down 1.9%

Shares of CNM stock opened at $44.45 on Friday. Core & Main has a 12-month low of $41.88 and a 12-month high of $67.18. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average price of $45.77 and a two-hundred day moving average price of $49.30. The firm has a market cap of $8.60 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 1.56 and a beta of 0.92.

Insider Activity at Core & Main

In other news, Director James D. Hope bought 2,067 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was bought at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the acquisition, the director directly owned 11,805 shares of the company’s stock, valued at $543,148.05. The trade was a 21.23% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Core & Main

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNM. California State Teachers Retirement System grew its stake in shares of Core & Main by 22.3% during the 1st quarter. California State Teachers Retirement System now owns 219,934 shares of the company’s stock valued at $10,865,000 after buying an additional 40,050 shares during the period. KBC Group NV lifted its position in shares of Core & Main by 4.5% during the first quarter. KBC Group NV now owns 2,737,992 shares of the company’s stock worth $135,257,000 after purchasing an additional 119,076 shares in the last quarter. Impax Asset Management Group plc grew its stake in Core & Main by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 2,872,595 shares of the company’s stock valued at $149,289,000 after purchasing an additional 279,373 shares in the last quarter. WINTON GROUP Ltd boosted its stake in Core & Main by 177.4% during the 4th quarter. WINTON GROUP Ltd now owns 33,015 shares of the company’s stock valued at $1,716,000 after acquiring an additional 21,113 shares during the last quarter. Finally, Fox Hill Wealth Management acquired a new position in Core & Main in the fourth quarter worth about $2,798,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

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.