Core & Main, Inc. (NYSE:CNM – Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $42.12 and last traded at $42.0810, with a volume of 122327 shares. The stock had previously closed at $43.98.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on CNM shares. Citigroup dropped their target price on Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. Wall Street Zen upgraded shares of Core & Main from a “hold” rating to a “buy” rating in a research report on Saturday. The Goldman Sachs Group reissued a “neutral” rating and set a $24.00 price target on shares of Core & Main in a research note on Thursday, June 11th. Finally, William Blair assumed coverage on shares of Core & Main in a research note on Thursday, July 23rd. They issued a “market perform” rating for the company. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.70.
View Our Latest Research Report on CNM
Core & Main Stock Performance
Insider Buying and Selling
In related news, Director James D. Hope purchased 2,067 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were acquired at an average cost of $46.01 per share, with a total value of $95,102.67. Following the purchase, the director directly owned 11,805 shares of the company’s stock, valued at approximately $543,148.05. This trade represents a 21.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.51% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Deutsche Bank AG raised its holdings in Core & Main by 1.1% during the 4th quarter. Deutsche Bank AG now owns 17,859 shares of the company’s stock valued at $928,000 after buying an additional 190 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Core & Main by 13.8% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,959 shares of the company’s stock worth $109,000 after acquiring an additional 237 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in Core & Main by 4.8% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,726 shares of the company’s stock worth $283,000 after acquiring an additional 261 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 269 shares during the period. Finally, Steph & Co. increased its position in shares of Core & Main by 36.6% in the fourth quarter. Steph & Co. now owns 1,037 shares of the company’s stock valued at $54,000 after acquiring an additional 278 shares during the period. Institutional investors own 94.19% of the company’s stock.
Core & Main Company Profile
Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.
With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.
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