Key Points
- Director James Hope purchased 1,972 shares on April 7 at an average price of $50.70, raising his stake by 39.7% to 6,939 shares; the transaction was reported in an SEC filing.
- Institutional ownership is very high at 94.19%, with major funds like Morgan Stanley, Capital World, State Street, Royal London and First Trust materially increasing their positions in Q4.
- Analysts give CNM a consensus "Moderate Buy" rating with a target price of $61.64, as price targets from major banks sit roughly in the $60–$65 range (seven Buys vs five Holds).
Core & Main, Inc. (NYSE:CNM - Get Free Report) Director James Hope purchased 1,972 shares of the business's stock in a transaction on Tuesday, April 7th. The shares were bought at an average cost of $50.70 per share, with a total value of $99,980.40. Following the acquisition, the director directly owned 6,939 shares of the company's stock, valued at $351,807.30. This trade represents a 39.70% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Core & Main Stock Performance
NYSE:CNM opened at $51.31 on Friday. The stock has a 50-day simple moving average of $52.60 and a two-hundred day simple moving average of $52.48. Core & Main, Inc. has a 52-week low of $43.96 and a 52-week high of $67.18. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.51 and a current ratio of 2.63. The firm has a market capitalization of $9.99 billion, a PE ratio of 22.21, a P/E/G ratio of 1.86 and a beta of 1.00.
Institutional Investors Weigh In On Core & Main
A number of hedge funds have recently made changes to their positions in CNM. Morgan Stanley raised its position in Core & Main by 8.3% during the fourth quarter. Morgan Stanley now owns 14,586,859 shares of the company's stock valued at $758,079,000 after purchasing an additional 1,118,145 shares during the period. Capital World Investors raised its position in Core & Main by 5.8% during the fourth quarter. Capital World Investors now owns 6,292,740 shares of the company's stock valued at $327,034,000 after purchasing an additional 344,606 shares during the period. State Street Corp raised its position in Core & Main by 1.0% during the fourth quarter. State Street Corp now owns 5,733,516 shares of the company's stock valued at $297,971,000 after purchasing an additional 54,562 shares during the period. Royal London Asset Management Ltd. raised its position in Core & Main by 12.5% during the fourth quarter. Royal London Asset Management Ltd. now owns 5,688,595 shares of the company's stock valued at $295,636,000 after purchasing an additional 632,077 shares during the period. Finally, First Trust Advisors LP raised its position in Core & Main by 38.6% during the fourth quarter. First Trust Advisors LP now owns 5,318,070 shares of the company's stock valued at $276,380,000 after purchasing an additional 1,482,235 shares during the period. 94.19% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price target on Core & Main from $65.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, March 25th. Barclays dropped their price objective on Core & Main from $63.00 to $62.00 and set an "overweight" rating for the company in a research note on Wednesday, March 25th. Citigroup upped their price objective on Core & Main from $56.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, January 8th. Wells Fargo & Company upped their price objective on Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 14th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $63.00 price objective on shares of Core & Main in a research note on Friday, January 9th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $61.64.
View Our Latest Stock Analysis on CNM
About Core & Main
(
Get Free Report)
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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