Brokerages Set Core & Main, Inc. (NYSE:CNM) Price Target at $57.60

Core & Main, Inc. (NYSE:CNM) has been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $57.60.

A number of research firms have commented on CNM. Barclays boosted their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Robert W. Baird lifted their price objective on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Finally, Citigroup lifted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th.

Insider Transactions at Core & Main

In related news, General Counsel Mark G. Whittenburg sold 1,974 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total transaction of $109,142.46. Following the transaction, the general counsel now owns 7,667 shares in the company, valued at $423,908.43. This represents a 20.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Bradford A. Cowles sold 25,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the transaction, the president now owns 16,010 shares in the company, valued at approximately $872,224.80. The trade was a 60.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 452,426 shares of company stock valued at $24,285,825. 3.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in Core & Main during the 4th quarter worth approximately $115,555,000. PointState Capital LP bought a new position in Core & Main during the 3rd quarter worth approximately $100,013,000. Norges Bank bought a new position in Core & Main during the 4th quarter worth approximately $99,734,000. FMR LLC boosted its stake in Core & Main by 28.0% during the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after acquiring an additional 1,903,280 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its stake in Core & Main by 373.0% during the 3rd quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company’s stock worth $89,416,000 after acquiring an additional 1,588,117 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Core & Main Trading Up 0.5 %

Shares of NYSE:CNM opened at $54.60 on Wednesday. The company has a market cap of $10.85 billion, a PE ratio of 25.63, a P/E/G ratio of 2.75 and a beta of 1.03. The company’s 50-day moving average price is $53.45 and its 200 day moving average price is $48.62. Core & Main has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period last year, the firm posted $0.65 EPS. Core & Main’s quarterly revenue was up 11.5% compared to the same quarter last year. Sell-side analysts anticipate that Core & Main will post 2.16 earnings per share for the current 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.