Deutsche Bank Aktiengesellschaft Initiates Coverage on Core & Main (NYSE:CNM)

Investment analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main (NYSE:CNM) in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $60.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 17.83% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. Truist Financial raised their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Citigroup raised their price objective on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. The Goldman Sachs Group upped their target price on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Royal Bank of Canada dropped their price target on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Finally, Loop Capital increased their price objective on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.55.

Core & Main Stock Up 3.1 %

CNM opened at $50.92 on Tuesday. Core & Main has a 1 year low of $37.22 and a 1 year high of $62.15. The firm has a 50 day moving average price of $51.46 and a 200 day moving average price of $49.08. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The company has a market cap of $10.12 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the business earned $0.34 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. Sell-side analysts expect that Core & Main will post 2.16 earnings per share for the current year.

Insider Buying and Selling at Core & Main

In other news, General Counsel Mark G. Whittenburg sold 1,974 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total transaction of $109,142.46. Following the completion of the transaction, the general counsel now directly owns 7,667 shares in the company, valued at approximately $423,908.43. The trade was a 20.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John R. Schaller sold 21,868 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the sale, the executive vice president now owns 16,452 shares in the company, valued at approximately $770,282.64. This represents a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,294 shares of company stock worth $9,383,685 over the last ninety days. Company insiders own 3.49% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Avior Wealth Management LLC lifted its holdings in Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after purchasing an additional 271 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Core & Main in the third quarter valued at approximately $49,000. UMB Bank n.a. increased its stake in shares of Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after acquiring an additional 684 shares during the period. Quadrant Capital Group LLC raised its holdings in Core & Main by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock worth $61,000 after purchasing an additional 278 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Core & Main by 187.4% during the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after purchasing an additional 830 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

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.