Core & Main (NYSE:CNM) Sets New 52-Week High at $58.88

Core & Main, Inc. (NYSE:CNM - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $58.88 and last traded at $58.54, with a volume of 123567 shares trading hands. The stock had previously closed at $57.77.

Analysts Set New Price Targets

CNM has been the topic of several research reports. Barclays upped their price objective on shares of Core & Main from $49.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, March 20th. Truist Financial reiterated a "hold" rating and issued a $38.00 price objective on shares of Core & Main in a report on Wednesday, March 20th. Loop Capital upped their price objective on shares of Core & Main from $58.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, March 20th. The Goldman Sachs Group upped their price target on shares of Core & Main from $42.00 to $61.00 and gave the company a "neutral" rating in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada upped their price target on shares of Core & Main from $59.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $50.00.

Core & Main Price Performance

The company's 50-day moving average is $48.43 and its 200-day moving average is $39.46. The firm has a market cap of $12.03 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 1.85 and a beta of 1.15. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the prior year, the company earned $0.31 earnings per share. The company's quarterly revenue was up 4.8% on a year-over-year basis. Equities research analysts predict that Core & Main, Inc. will post 2.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of the firm's stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $38.12, for a total value of $864,398,751.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Core & Main news, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of the business's stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $38.12, for a total transaction of $864,398,751.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Laura K. Schneider sold 100,000 shares of the stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $40.63, for a total value of $4,063,000.00. Following the completion of the transaction, the insider now owns 9,672 shares of the company's stock, valued at $392,973.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,334,043 shares of company stock valued at $1,836,262,410. 3.49% of the stock is currently owned by corporate insiders.

Institutional Trading of Core & Main

A number of hedge funds have recently made changes to their positions in CNM. Quadrant Capital Group LLC raised its holdings in Core & Main by 74.5% in the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company's stock valued at $35,000 after buying an additional 365 shares during the last quarter. US Bancorp DE grew its stake in shares of Core & Main by 37.3% in the second quarter. US Bancorp DE now owns 1,938 shares of the company's stock worth $61,000 after purchasing an additional 527 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of Core & Main by 6.7% in the third quarter. Brown Advisory Inc. now owns 8,456 shares of the company's stock worth $244,000 after purchasing an additional 532 shares during the last quarter. C M Bidwell & Associates Ltd. grew its stake in shares of Core & Main by 7.0% in the second quarter. C M Bidwell & Associates Ltd. now owns 9,676 shares of the company's stock worth $303,000 after purchasing an additional 630 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in Core & Main by 3.3% in the second quarter. Citigroup Inc. now owns 19,704 shares of the company's stock valued at $618,000 after purchasing an additional 631 shares during the period. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.