Core & Main (NYSE:CNM – Get Free Report) had its target price upped by research analysts at Wells Fargo & Company from $62.00 to $65.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 17.59% from the company’s previous close.
A number of other analysts have also recently commented on the company. The Goldman Sachs Group boosted their price target on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 price target (up previously from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Robert W. Baird upped their target price on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Loop Capital lifted their target price on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Barclays increased their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Core & Main has an average rating of “Moderate Buy” and an average target price of $57.60.
Read Our Latest Research Report on CNM
Core & Main Trading Down 0.9 %
Core & Main (NYSE:CNM – Get Free Report) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the company posted $0.65 earnings per share. The firm’s revenue was up 11.5% on a year-over-year basis. As a group, analysts expect that Core & Main will post 2.16 earnings per share for the current year.
Insider Activity at Core & Main
In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the sale, the general counsel now owns 7,667 shares in the company, valued at $423,908.43. The trade was a 20.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of Core & Main stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total value of $10,976,000.00. Following the completion of the sale, the chief executive officer now directly owns 92,349 shares in the company, valued at $5,068,113.12. This trade represents a 68.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 427,426 shares of company stock worth $22,923,825. 3.49% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Core & Main
Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in Core & Main by 28.0% during the third quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after acquiring an additional 1,903,280 shares during the last quarter. State Street Corp lifted its position in Core & Main by 9.7% in the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock worth $245,177,000 after buying an additional 489,224 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Core & Main by 1.0% during the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock worth $188,710,000 after buying an additional 41,521 shares during the period. Royal London Asset Management Ltd. increased its position in Core & Main by 39.9% during the third quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock valued at $167,029,000 after acquiring an additional 1,073,451 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Core & Main by 14.5% during the third quarter. Geode Capital Management LLC now owns 3,261,964 shares of the company’s stock valued at $144,869,000 after acquiring an additional 412,520 shares during the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.
About Core & Main
Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.
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