Core & Main (CNM) Set to Announce Quarterly Earnings on Tuesday

Core & Main (NYSE:CNMGet Free Report) will post its quarterly earnings results before the market opens on Tuesday, March 19th. Analysts expect Core & Main to post earnings of $0.47 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Core & Main Trading Up 1.3 %

Shares of CNM stock opened at $50.92 on Monday. The business’s fifty day moving average price is $44.33 and its 200 day moving average price is $37.10. Core & Main has a 1-year low of $20.30 and a 1-year high of $51.00. The firm has a market capitalization of $11.01 billion, a PE ratio of 24.02, a P/E/G ratio of 2.36 and a beta of 1.11. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.36 and a quick ratio of 1.46.

Insiders Place Their Bets

In other news, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $38.12, for a total value of $864,398,751.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Laura K. Schneider sold 100,000 shares of the stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $40.63, for a total value of $4,063,000.00. Following the completion of the sale, the insider now owns 9,672 shares in the company, valued at $392,973.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of the stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $38.12, for a total value of $864,398,751.36. The disclosure for this sale can be found here. Insiders sold 46,269,043 shares of company stock worth $1,832,498,260 over the last three months. 3.49% of the stock is owned by insiders.

Institutional Investors Weigh In On Core & Main

Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. acquired a new stake in Core & Main during the 2nd quarter valued at approximately $43,000. Tower Research Capital LLC TRC grew its stake in Core & Main by 335.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,755 shares of the company’s stock valued at $55,000 after purchasing an additional 1,352 shares in the last quarter. Comerica Bank bought a new position in Core & Main during the 3rd quarter worth approximately $53,000. Money Concepts Capital Corp bought a new position in Core & Main during the 4th quarter worth approximately $39,000. Finally, MetLife Investment Management LLC bought a new position in Core & Main during the 1st quarter worth approximately $58,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Truist Financial boosted their target price on Core & Main from $30.00 to $38.00 and gave the stock a “hold” rating in a research report on Friday, December 8th. Citigroup upgraded Core & Main from a “neutral” rating to a “buy” rating and upped their price objective for the company from $38.00 to $48.00 in a research report on Monday, January 8th. The Goldman Sachs Group upped their price objective on Core & Main from $38.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, December 14th. Royal Bank of Canada upped their price objective on Core & Main from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, November 28th. Finally, Barclays increased their target price on Core & Main from $38.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, December 8th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Core & Main presently has an average rating of “Moderate Buy” and a consensus price target of $40.73.

View Our Latest Report on Core & Main

Core & Main Company Profile

(Get Free Report)

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 accessories, installation, software, and other services.

See Also

Earnings History for Core & Main (NYSE:CNM)

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