Core & Main, Inc. (NYSE:CNM - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $63.33 and last traded at $63.02, with a volume of 412573 shares traded. The stock had previously closed at $62.00.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on CNM. Wells Fargo & Company increased their price objective on shares of Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target on the stock. Royal Bank Of Canada boosted their price objective on Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Citigroup upped their price objective 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 lifted their target price on Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Core & Main presently has a consensus rating of "Moderate Buy" and an average price target of $60.00.
Read Our Latest Research Report on CNM
Core & Main Price Performance
The firm has a market cap of $12.85 billion, a price-to-earnings ratio of 30.31, a P/E/G ratio of 1.92 and a beta of 1.04. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. The stock's fifty day moving average price is $58.59 and its 200-day moving average price is $53.83.
Core & Main (NYSE:CNM - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, hitting 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 analyst estimates of $1.84 billion. During the same quarter last year, the firm posted $0.49 earnings per share. Core & Main's revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.
Insider Activity
In other news, Director James G. Castellano sold 43,994 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $61.98, for a total transaction of $2,726,748.12. Following the completion of the sale, the director owned 4,638 shares in the company, valued at approximately $287,463.24. The trade was a 90.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark R. Witkowski sold 100,000 shares of the company's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the transaction, the chief executive officer owned 35,847 shares of the company's stock, valued at $2,195,987.22. This represents a 73.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 438,659 shares of company stock worth $26,587,301 over the last three months. Company insiders own 3.53% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of CNM. Corient Private Wealth LLC grew its position in Core & Main by 9.2% in the 4th quarter. Corient Private Wealth LLC now owns 7,117 shares of the company's stock valued at $362,000 after buying an additional 599 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Core & Main by 104.2% in the 4th quarter. Teacher Retirement System of Texas now owns 50,670 shares of the company's stock worth $2,580,000 after acquiring an additional 25,851 shares during the period. American Century Companies Inc. lifted its stake in shares of Core & Main by 6.3% in the 4th quarter. American Century Companies Inc. now owns 1,384,886 shares of the company's stock worth $70,505,000 after acquiring an additional 81,706 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Core & Main in the fourth quarter valued at about $1,985,000. Finally, LPL Financial LLC increased its stake in shares of Core & Main by 16.1% during the fourth quarter. LPL Financial LLC now owns 17,757 shares of the company's stock worth $904,000 after acquiring an additional 2,461 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.
About Core & Main
(
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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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