Core & Main (NYSE:CNM) Now Covered by Wells Fargo & Company

Analysts at Wells Fargo & Company assumed coverage on shares of Core & Main (NYSE:CNM) in a research note issued on Monday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $52.00 price target on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 17.70% from the company’s previous close.

Several other analysts have also issued reports on the company. Robert W. Baird cut their price objective on Core & Main from $62.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Bank of America decreased their price objective on Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. The Goldman Sachs Group dropped their price objective on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Barclays dropped their target price on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Finally, Truist Financial decreased their price target on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.55.

Core & Main Stock Up 0.0 %

NYSE:CNM opened at $44.18 on Monday. The firm has a market capitalization of $8.90 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 2.52 and a beta of 1.04. The stock has a 50 day moving average of $47.68 and a 200-day moving average of $52.15. Core & Main has a 52 week low of $27.98 and a 52 week high of $62.15. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.05 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 earnings per share. Analysts predict that Core & Main will post 2.1 EPS for the current year.

Core & Main declared that its board has authorized a stock buyback plan on Wednesday, June 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Core & Main

In related news, Director James G. Castellano sold 12,500 shares of Core & Main stock in a transaction on Monday, July 15th. The shares were sold at an average price of $52.22, for a total transaction of $652,750.00. Following the completion of the transaction, the director now owns 11,769 shares of the company’s stock, valued at $614,577.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.49% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNM. QRG Capital Management Inc. increased its holdings in Core & Main by 1.9% during the 2nd quarter. QRG Capital Management Inc. now owns 12,153 shares of the company’s stock worth $595,000 after acquiring an additional 228 shares during the period. United Services Automobile Association boosted its stake in shares of Core & Main by 2.0% in the 2nd quarter. United Services Automobile Association now owns 13,307 shares of the company’s stock valued at $651,000 after purchasing an additional 266 shares in the last quarter. CWM LLC lifted its holdings in Core & Main by 25.6% in the 2nd quarter. CWM LLC now owns 1,638 shares of the company’s stock worth $80,000 after buying an additional 334 shares during the period. 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 worth $35,000 after purchasing an additional 365 shares in the last quarter. Finally, Lisanti Capital Growth LLC raised its stake in Core & Main by 0.3% in the first quarter. Lisanti Capital Growth LLC now owns 157,865 shares of the company’s stock worth $9,038,000 after buying an additional 395 shares in the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

About Core & Main

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.