Core & Main (NYSE:CNM – Get Free Report) had its price objective hoisted by stock analysts at Citigroup from $43.00 to $56.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 9.91% from the company’s previous close.
Several other brokerages also recently commented on CNM. Loop Capital increased their price target on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Barclays raised their target price on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their target price on shares of Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Truist Financial raised their price target on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, Robert W. Baird boosted their price objective on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and an average price target of $57.30.
Read Our Latest Stock Analysis on CNM
Core & Main Trading Down 0.8 %
Core & Main (NYSE:CNM – Get Free Report) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the company posted $0.65 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. Analysts expect that Core & Main will post 2.16 EPS for the current fiscal year.
Insider Transactions at Core & Main
In other Core & Main news, EVP Jeffrey D. Giles sold 25,000 shares of Core & Main stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total transaction of $1,367,750.00. Following the sale, the executive vice president now directly owns 11,615 shares of the company’s stock, valued at approximately $635,456.65. The trade was a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret Newman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $55.25, for a total value of $828,750.00. Following the completion of the transaction, the director now directly owns 11,769 shares of the company’s stock, valued at approximately $650,237.25. The trade was a 56.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 290,000 shares of company stock valued at $15,926,000. 3.49% of the stock is owned by corporate insiders.
Institutional Trading of Core & Main
Large investors have recently bought and sold shares of the stock. Select Equity Group L.P. boosted its stake in shares of Core & Main by 0.3% in the 2nd quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock valued at $754,986,000 after purchasing an additional 39,475 shares in the last quarter. FMR LLC lifted its holdings in Core & Main by 28.0% during the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after purchasing an additional 1,903,280 shares during the last quarter. State Street Corp boosted its position in Core & Main by 9.7% in the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock valued at $245,177,000 after buying an additional 489,224 shares in the last quarter. Pacer Advisors Inc. grew its stake in Core & Main by 1.0% during the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock worth $188,710,000 after buying an additional 41,521 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Core & Main by 39.9% during the third quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock worth $167,029,000 after buying an additional 1,073,451 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.
Core & Main Company Profile
Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.
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