Core & Main (NYSE:CNM) Sees Strong Trading Volume

Core & Main, Inc. (NYSE:CNM) saw unusually-high trading volume on Thursday . Approximately 2,130,176 shares changed hands during mid-day trading, a decline of 15% from the previous session’s volume of 2,506,565 shares.The stock last traded at $39.59 and had previously closed at $39.40.

Wall Street Analyst Weigh In

CNM has been the topic of several recent research reports. JPMorgan Chase & Co. cut their target price on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday. Royal Bank of Canada dropped their price target on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays reduced their price objective on Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday. The Goldman Sachs Group lowered their target price on Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Robert W. Baird cut their price target on Core & Main from $62.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.82.

Core & Main Trading Up 0.1 %

The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.82 and a beta of 1.04. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 2.14. The company has a 50-day moving average price of $49.66 and a 200-day moving average price of $52.59.

Core & Main (NYSE:CNM) last announced 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). Core & Main had a net margin of 5.53% and a return on equity of 20.01%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, research analysts forecast that Core & Main, Inc. will post 2.32 EPS for the current fiscal year.

Insider Activity at Core & Main

In other Core & Main news, Director James G. Castellano sold 12,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $52.22, for a total transaction of $652,750.00. Following 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 filing with the SEC, which is accessible through the SEC website. Insiders own 3.49% of the company’s stock.

Institutional Investors Weigh In On Core & Main

Institutional investors and hedge funds have recently made changes to their positions in the business. Rise Advisors LLC acquired a new position in Core & Main in the 1st quarter valued at about $27,000. ORG Partners LLC purchased a new stake in shares of Core & Main during the first quarter worth approximately $38,000. Quadrant Capital Group LLC lifted its holdings in shares of Core & Main by 74.5% during the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the period. Principal Securities Inc. purchased a new position in Core & Main in the 4th quarter valued at $43,000. Finally, Brown Brothers Harriman & Co. purchased a new position in Core & Main in the 2nd quarter valued at $76,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

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.