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

Key Points

• Analyst consensus: Twelve research firms give Core & Main an average rating of "Moderate Buy" (7 buys, 5 holds) with a 12‑month average price target of $61.64.
• Insider purchase: Director James D. Hope bought 1,972 shares at $50.70 (~$99,980) on April 7, increasing his stake 39.7% to 6,939 shares; insiders own 3.53% of the company.
• Heavy institutional ownership: About 94.19% of the stock is held by institutions and hedge funds, with large positions from Capital World Investors (~5.95M shares after adding 4.44M), First Trust Advisors, Norges Bank and Zurich.

Core & Main, Inc. (NYSE:CNM - Get Free Report) has been given an average rating of "Moderate Buy" by the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $61.6364.

CNM has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on Core & Main from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, March 25th. Citigroup boosted their target price on Core & Main from $56.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, January 8th. Zacks Research downgraded Core & Main from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 9th. Barclays decreased their target price on Core & Main from $63.00 to $62.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 25th. Finally, Wells Fargo & Company boosted their target price on Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 14th.

Insider Buying and Selling

In other news, Director James D. Hope bought 1,972 shares of the firm's stock in a transaction on Tuesday, April 7th. The shares were bought at an average cost of $50.70 per share, for a total transaction of $99,980.40. Following the completion of the transaction, the director owned 6,939 shares in the company, valued at $351,807.30. This trade represents a 39.70% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.53% of the company's stock.

Institutional Trading of Core & Main

A number of institutional investors have recently bought and sold shares of CNM. Capital World Investors boosted its position in Core & Main by 294.9% during the third quarter. Capital World Investors now owns 5,948,134 shares of the company's stock worth $320,188,000 after purchasing an additional 4,442,047 shares in the last quarter. Norges Bank acquired a new position in shares of Core & Main in the fourth quarter worth $108,265,000. Holocene Advisors LP acquired a new position in shares of Core & Main in the third quarter worth $100,765,000. First Trust Advisors LP raised its holdings in shares of Core & Main by 38.6% in the fourth quarter. First Trust Advisors LP now owns 5,318,070 shares of the company's stock worth $276,380,000 after acquiring an additional 1,482,235 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Core & Main in the third quarter worth $67,284,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Stock Up 0.0%

Core & Main stock opened at $51.47 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.63 and a quick ratio of 1.51. Core & Main has a 1-year low of $43.96 and a 1-year high of $67.18. The company has a market cap of $10.02 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The stock's 50 day moving average price is $52.56 and its 200 day moving average price is $52.51.

About Core & Main

Core & Main, Inc NYSE: CNM is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company's product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.

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