Core & Main, Inc. (NYSE:CNM) Receives Consensus Rating of "Moderate Buy" from Brokerages

Core & Main, Inc. (NYSE:CNM - Get Free Report) has received an average recommendation of "Moderate Buy" from the eight analysts that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $52.90.

Several equities research analysts recently weighed in on the company. Royal Bank of Canada reissued an "outperform" rating and set a $60.00 price objective on shares of Core & Main in a report on Wednesday, June 5th. Truist Financial cut their price target on Core & Main from $56.00 to $50.00 and set a "hold" rating on the stock in a research note on Wednesday, June 5th.

Core & Main Price Performance

Shares of CNM stock traded up $0.95 on Wednesday, reaching $51.50. The company had a trading volume of 1,324,546 shares, compared to its average volume of 2,429,654. The business's 50-day moving average is $50.46 and its 200 day moving average is $52.35. Core & Main has a one year low of $27.75 and a one year high of $62.15. The company has a quick ratio of 1.23, a current ratio of 2.14 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $10.38 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 1.92 and a beta of 1.06.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, June 4th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.02). The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.72 billion. Core & Main had a net margin of 5.53% and a return on equity of 20.01%. Core & Main's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 EPS. Equities research analysts forecast that Core & Main will post 2.32 EPS for the current fiscal year.

Insider Transactions at Core & Main

In related news, Director James G. Castellano sold 12,500 shares of Core & Main stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $52.22, for a total value of $652,750.00. Following the transaction, the director now directly owns 11,769 shares of the company's stock, valued at $614,577.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Core & Main

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Core & Main by 35.2% in the 1st quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company's stock worth $1,038,457,000 after acquiring an additional 4,721,510 shares in the last quarter. Select Equity Group L.P. grew its stake in Core & Main by 0.3% during the second quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company's stock worth $754,986,000 after purchasing an additional 39,475 shares during the period. Capital International Investors increased its holdings in Core & Main by 470.6% in the first quarter. Capital International Investors now owns 5,093,278 shares of the company's stock worth $291,590,000 after purchasing an additional 4,200,591 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Core & Main by 37.1% in the second quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company's stock valued at $205,974,000 after buying an additional 1,137,817 shares during the period. Finally, Anomaly Capital Management LP boosted its holdings in shares of Core & Main by 35.9% during the 2nd quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company's stock worth $176,601,000 after buying an additional 953,489 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company's stock.

About Core & Main

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.