Analysts Set Core & Main, Inc. (NYSE:CNM) PT at $60.00

Key Points

• Core & Main, Inc. has received an average analyst recommendation of "Hold", with one sell, four hold, and six buy ratings, alongside a target price averaging $60.00.
• Insider trading activity was notable, with two directors selling significant portions of their ownership, resulting in a combined decrease of nearly 90% and 63% in their respective shares.
• Institutional investors hold a substantial 94.19% of Core & Main's stock, indicating strong confidence from larger market players.

Core & Main, Inc. (NYSE:CNM - Get Free Report) has been assigned an average rating of "Hold" from the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $60.00.

CNM has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Wells Fargo & Company upped their target price on Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada upped their target price on Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Citigroup upped their target price on Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Finally, Loop Capital reiterated a "hold" rating and issued a $68.00 target price on shares of Core & Main in a research report on Monday, July 28th.

Insiders Place Their Bets

In other Core & Main news, Director Orvin T. Kimbrough sold 23,962 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $61.77, for a total value of $1,480,132.74. Following the sale, the director owned 13,958 shares in the company, valued at approximately $862,185.66. This represents a 63.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Stephen O. Leclair sold 44,972 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $61.91, for a total value of $2,784,216.52. Following the completion of the sale, the insider owned 70,736 shares in the company, valued at approximately $4,379,265.76. This represents a 38.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 428,445 shares of company stock worth $26,045,755. Corporate insiders own 3.53% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CNM. LPL Financial LLC lifted its position in shares of Core & Main by 16.1% during the 4th quarter. LPL Financial LLC now owns 17,757 shares of the company's stock valued at $904,000 after buying an additional 2,461 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Core & Main during the 4th quarter valued at approximately $2,172,000. Landscape Capital Management L.L.C. purchased a new position in shares of Core & Main during the 4th quarter valued at approximately $360,000. Wells Fargo & Company MN lifted its position in shares of Core & Main by 8.0% during the 4th quarter. Wells Fargo & Company MN now owns 118,144 shares of the company's stock valued at $6,015,000 after buying an additional 8,783 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of Core & Main during the 4th quarter valued at approximately $222,000. Hedge funds and other institutional investors own 94.19% of the company's stock.

Core & Main Stock Down 0.2%

Shares of CNM traded down $0.15 during mid-day trading on Wednesday, hitting $63.95. 1,394,198 shares of the company traded hands, compared to its average volume of 1,783,679. Core & Main has a 1-year low of $37.22 and a 1-year high of $65.97. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $12.61 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04. The business has a 50 day moving average of $60.89 and a 200 day moving average of $54.67.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that Core & Main will post 2.16 EPS for the current year.

Core & Main Company Profile

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.