Insider Buying: Core & Main (NYSE:CNM) Director Purchases 1,972 Shares of Stock

Key Points

• Director James Hope bought 1,972 shares at an average price of $50.70 (total ~$99,980), increasing his stake to 6,939 shares (a 39.7% rise); the purchase was disclosed in an SEC filing.
• Core & Main (CNM) traded at $51.31 (down $0.09) on the day with ~2.07M shares changing hands versus a 2.31M average, and the company has a market cap of roughly $9.99B and a 52‑week range of $43.96–$67.18.
• Analyst sentiment is mixed-to-positive, with an average rating of "Moderate Buy" and an average price target of $61.64, while individual targets and ratings have ranged from holds to buys.

Core & Main, Inc. (NYSE:CNM - Get Free Report) Director James Hope purchased 1,972 shares of the company's stock in a transaction that occurred on Tuesday, April 7th. The stock was bought at an average price of $50.70 per share, with a total value of $99,980.40. Following the transaction, the director owned 6,939 shares of the company's stock, valued at $351,807.30. This represents a 39.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Core & Main Trading Down 0.2%

NYSE CNM traded down $0.09 during trading hours on Thursday, hitting $51.31. 2,072,435 shares of the company were exchanged, compared to its average volume of 2,309,820. Core & Main, Inc. has a 52 week low of $43.96 and a 52 week high of $67.18. The company has a quick ratio of 1.51, a current ratio of 2.63 and a debt-to-equity ratio of 1.02. The stock has a 50-day moving average price of $52.65 and a 200 day moving average price of $52.49. The stock has a market cap of $9.99 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 1.84 and a beta of 1.00.

Wall Street Analyst Weigh In

CNM has been the topic of several recent research reports. Citigroup increased their price target on Core & Main from $56.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday, January 8th. Zacks Research cut shares of Core & Main from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 9th. Royal Bank Of Canada reissued an "outperform" rating and issued a $63.00 target price on shares of Core & Main in a research note on Friday, January 9th. Robert W. Baird raised their target price on shares of Core & Main from $62.00 to $64.00 and gave the stock an "outperform" rating in a report on Wednesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Core & Main from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, March 25th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Core & Main currently has an average rating of "Moderate Buy" and an average price target of $61.64.

Institutional Investors Weigh In On Core & Main

Hedge funds and other institutional investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. purchased a new position in Core & Main during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC increased its stake in Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company's stock worth $27,000 after purchasing an additional 269 shares during the period. Whittier Trust Co. bought a new stake in shares of Core & Main during the fourth quarter worth $28,000. Cubist Systematic Strategies LLC lifted its position in shares of Core & Main by 262.0% during the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock worth $35,000 after purchasing an additional 524 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Core & Main during the fourth quarter valued at $38,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Company Profile

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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