Core & Main (NYSE:CNM) Sees Strong Trading Volume

Shares of Core & Main, Inc. (NYSE:CNM - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 2,130,176 shares were traded during trading, a decline of 15% from the previous session's volume of 2,506,565 shares.The stock last traded at $39.59 and had previously closed at $39.40.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CNM shares. JPMorgan Chase & Co. reduced their price target on shares of Core & Main from $54.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday. Truist Financial reduced their target price on shares of Core & Main from $50.00 to $38.00 and set a "hold" rating for the company in a report on Thursday. Barclays reduced their price objective on Core & Main from $65.00 to $57.00 and set an "overweight" rating on the stock in a research note on Thursday. Loop Capital dropped their target price on Core & Main from $64.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Bank of America decreased their price objective on shares of Core & Main from $38.00 to $34.00 and set an "underperform" rating for the company in a research report on Thursday. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.82.

Core & Main Trading Down 3.6 %

The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 2.14. The firm has a fifty day moving average of $49.88 and a 200 day moving average of $52.64. The firm has a market capitalization of $7.65 billion, a PE ratio of 17.75, a P/E/G ratio of 1.82 and a beta of 1.06.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.13). The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.05 billion. Core & Main had a net margin of 5.53% and a return on equity of 20.01%. The firm's quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 EPS. Equities research analysts expect that Core & Main, Inc. will post 2.32 EPS for the current year.

Insiders Place Their Bets

In related news, Director James G. Castellano sold 12,500 shares of the business's stock in a transaction 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 sale, the director now owns 11,769 shares of the company's stock, valued at approximately $614,577.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.49% of the company's stock.

Institutional Investors Weigh In On Core & Main

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

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.