Core & Main (NYSE:CNM) Sets New 1-Year High - Still a Buy?

Core & Main, Inc. (NYSE:CNM - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $60.38 and last traded at $59.73, with a volume of 1393138 shares changing hands. The stock had previously closed at $59.68.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Robert W. Baird dropped their target price on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. JPMorgan Chase & Co. lifted their target price on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Loop Capital lifted their target price on shares of Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday. Citigroup boosted their price target on shares of Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $59.55.

Core & Main Stock Down 1.3%

The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.61 and a beta of 1.02. The business's 50-day moving average is $52.49 and its two-hundred day moving average is $51.88. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM - Get Free Report) last issued its earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, hitting analysts' consensus estimates of $0.52. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm earned $0.49 earnings per share. Core & Main's quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Mark G. Whittenburg sold 900 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $60.03, for a total value of $54,027.00. Following the sale, the general counsel now directly owns 9,691 shares of the company's stock, valued at approximately $581,750.73. The trade was a 8.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO John Weldon Stephens sold 41,963 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the completion of the sale, the chief accounting officer now directly owns 4,120 shares in the company, valued at $207,977.60. This trade represents a 91.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 157,666 shares of company stock valued at $8,770,352 over the last ninety days. Company insiders own 3.53% of the company's stock.

Institutional Investors Weigh In On Core & Main

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Core & Main by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock valued at $927,580,000 after acquiring an additional 221,970 shares during the period. FMR LLC raised its stake in shares of Core & Main by 4.1% in the 4th quarter. FMR LLC now owns 9,055,993 shares of the company's stock valued at $461,041,000 after acquiring an additional 358,909 shares during the period. Invesco Ltd. raised its stake in shares of Core & Main by 0.8% in the 4th quarter. Invesco Ltd. now owns 5,926,569 shares of the company's stock valued at $301,722,000 after acquiring an additional 44,513 shares during the period. Bessemer Group Inc. raised its stake in shares of Core & Main by 0.5% in the 4th quarter. Bessemer Group Inc. now owns 3,835,182 shares of the company's stock valued at $195,250,000 after acquiring an additional 20,756 shares during the period. Finally, Royal London Asset Management Ltd. raised its stake in shares of Core & Main by 1.3% in the 4th quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company's stock valued at $194,005,000 after acquiring an additional 48,833 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

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.