Core & Main (NYSE:CNM) Hits New 1-Year High - What's Next?

Core & Main, Inc. (NYSE:CNM - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $60.40 and last traded at $60.31, with a volume of 3028753 shares traded. The stock had previously closed at $59.30.

Wall Street Analyst Weigh In

CNM has been the topic of several analyst reports. Wells Fargo & Company increased their target price on Core & Main from $60.00 to $65.00 and gave the stock an "overweight" rating in a 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 note on Tuesday, June 10th. Royal Bank Of Canada lifted their price objective on shares of Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 target price on the stock. Finally, Loop Capital boosted their price target on shares of Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $59.55.

Core & Main Stock Performance

The company has a market cap of $11.89 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 1.74 and a beta of 1.02. The firm's 50 day simple moving average is $54.55 and its 200-day simple moving average is $52.37. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96.

Core & Main (NYSE:CNM - Get Free Report) last announced 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 company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the prior year, the company earned $0.49 EPS. Core & Main's revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts predict that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling

In related news, CAO John Weldon Stephens sold 10,214 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $53.02, for a total transaction of $541,546.28. Following the completion of the sale, the chief accounting officer now directly owns 4,120 shares in the company, valued at approximately $218,442.40. This trade represents a 71.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Mark G. Whittenburg sold 900 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $60.03, for a total transaction of $54,027.00. Following the completion of the transaction, the general counsel now owns 9,691 shares in the company, valued at $581,750.73. The trade was a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,666 shares of company stock worth $8,770,352. 3.53% of the stock is owned by corporate insiders.

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 business. Charles Schwab Investment Management Inc. increased its position in shares of Core & Main by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company's stock worth $84,855,000 after purchasing an additional 122,240 shares during the last quarter. Federated Hermes Inc. boosted its stake in Core & Main by 4,757.9% during the fourth quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company's stock worth $57,953,000 after buying an additional 1,114,913 shares during the period. Vanguard Group Inc. boosted its stake in Core & Main by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock worth $927,580,000 after buying an additional 221,970 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Core & Main by 12.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 150,423 shares of the company's stock valued at $7,658,000 after acquiring an additional 16,589 shares during the last quarter. Finally, Bryce Point Capital LLC purchased a new stake in shares of Core & Main in the 4th quarter valued at approximately $1,768,000. Hedge funds and other institutional investors own 94.19% of the company's stock.

About Core & Main

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.

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