Core & Main (NYSE:CNM) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Core & Main from “buy” to “hold,” while the broader analyst consensus remains “Moderate Buy,” with seven Buy ratings and five Hold ratings.
• Core & Main opened at $46.56, near its 50-day average of $46.75 and below its 200-day average of $50.03; analysts’ consensus price target is $56.70.
• Institutional investors own 94.19% of the company, and director James D. Hope recently purchased 2,067 shares worth approximately $95,000.

Core & Main (NYSE:CNM - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

A number of other equities research analysts also recently issued reports on the stock. William Blair started coverage on shares of Core & Main in a research report on Thursday, July 23rd. They issued a "market perform" rating for the company. Citigroup lowered their price target on shares of Core & Main from $54.00 to $53.00 and set a "neutral" rating on the stock in a report on Thursday, June 11th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $24.00 price target on shares of Core & Main in a research note on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Core & Main presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.70.

Core & Main Price Performance

NYSE CNM opened at $46.56 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92. The company has a 50 day simple moving average of $46.75 and a 200-day simple moving average of $50.03. Core & Main has a 52-week low of $41.88 and a 52-week high of $67.18.

Insider Transactions at Core & Main

In other Core & Main news, Director James D. Hope acquired 2,067 shares of Core & Main stock in a transaction that occurred on Monday, July 6th. The stock was acquired at an average price of $46.01 per share, with a total value of $95,102.67. Following the purchase, the director owned 11,805 shares in the company, valued at approximately $543,148.05. This trade represents a 21.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Core & Main

Several institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System grew its stake in Core & Main by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 219,934 shares of the company's stock valued at $10,865,000 after buying an additional 40,050 shares during the last quarter. KBC Group NV lifted its position in Core & Main by 11.6% during the 4th quarter. KBC Group NV now owns 2,618,916 shares of the company's stock worth $136,105,000 after acquiring an additional 272,258 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in Core & Main by 10.8% during the fourth quarter. Impax Asset Management Group plc now owns 2,872,595 shares of the company's stock valued at $149,289,000 after acquiring an additional 279,373 shares during the period. Thomasville National Bank bought a new stake in Core & Main during the fourth quarter valued at about $11,112,000. Finally, Oak Thistle LLC bought a new stake in Core & Main during the fourth quarter valued at about $509,000. 94.19% of the stock is currently owned by institutional investors.

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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