Core & Main
About: Core & Main Inc is a specialty distributor focusing on water, wastewater, storm drainage, and fire protection products and services. Catering to municipalities, private water companies, and contractors, it serves municipal, non-residential, and residential markets nationwide. Its diverse product line includes pipes, valves, fittings, storm drainage products, fire protection products, and meter products. Revenue is primarily generated from pipes, valves, and fittings. The company operates across three construction sectors: municipal, non-residential, and residential, contributing to reliable infrastructure development nationwide.
Employees: 5,000
0
Funds holding %
of 6,823 funds
0
Analysts bullish %
of 8 analysts
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
4% less repeat investments, than reductions
Existing positions increased: 145 | Existing positions reduced: 151
2.4% less ownership
Funds ownership: 106.61% [Q2] → 104.21% (-2.4%) [Q3]
8% less funds holding
Funds holding: 413 [Q2] → 380 (-33) [Q3]
11% less capital invested
Capital invested by funds: $10.1B [Q2] → $8.91B (-$1.15B) [Q3]
21% less call options, than puts
Call options by funds: $19.4M | Put options by funds: $24.5M
34% less first-time investments, than exits
New positions opened: 54 | Existing positions closed: 82
42% less funds holding in top 10
Funds holding in top 10: 12 [Q2] → 7 (-5) [Q3]
Research analyst outlook
8 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$56
1%
upside
Avg. target
$61
10%
upside
High target
$66
20%
upside
8 analyst ratings
5 positive
63%
3 neutral
38%
0 negative
0%
Citigroup Anthony Pettinari 44% 1-year accuracy 22 / 50 met price target | 1%upside $56 | Neutral Maintained | 6 Jan 2025 |
Goldman Sachs Joe Ritchie 63% 1-year accuracy 17 / 27 met price target | 3%upside $57 | Neutral Maintained | 5 Dec 2024 |
Wells Fargo Sam Reid 27% 1-year accuracy 7 / 26 met price target | 12%upside $62 | Overweight Maintained | 5 Dec 2024 |
RBC Capital Mike Dahl 57% 1-year accuracy 32 / 56 met price target | 12%upside $62 | Outperform Reiterated | 4 Dec 2024 |
Truist Securities Keith Hughes 60% 1-year accuracy 31 / 52 met price target | 1%upside $56 | Hold Maintained | 4 Dec 2024 |
Financial journalist opinion
Based on 3 articles about CNM published over the past 30 days
Positive
Zacks Investment Research
15 hours ago
4 Manufacturing Tools Stocks to Watch on Prospering Industry Trends
The Zacks Manufacturing-Tools & Related Products industry has been gaining from strength across end markets, along with robust demand for machine tools in the industrial and automotive sectors. SWK, CNM, LECO and KMT are notable stocks in the industry.
Positive
Zacks Investment Research
1 week ago
Core & Main (CNM) Upgraded to Buy: Here's Why
Core & Main (CNM) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Positive
Zacks Investment Research
4 weeks ago
Core & Main (CNM) Recently Broke Out Above the 200-Day Moving Average
Core & Main (CNM) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, CNM crossed above the 200-day moving average, suggesting a long-term bullish trend.
Neutral
Business Wire
1 month ago
Immokalee Water & Sewer District Modernizes with Xylem Digital Solutions
WASHINGTON--(BUSINESS WIRE)--The Immokalee Water & Sewer District in Collier County, Fla. selected Xylem (NYSE: XYL) and Core & Main (NYSE: CNM) to advance its digital transformation initiative. The utility will soon manage meters remotely, track residential water pressure, check water quality, and more with Xylem digital solutions. The modernization will create a comprehensive water management solution that integrates potable water distribution, wastewater collection, and treatment sys.
Positive
Seeking Alpha
1 month ago
Core & Main's Good Q3 News Popular With Investors
Core & Main, Inc. experienced a 15.51% stock price surge due to strong Q3 results, driven by 12% sales growth from organic growth and acquisitions. I maintain a Strong Buy rating on CNM stock with a one-year price target of $63.92, reflecting a 15.69% increase from the December 4 closing price. CNM benefits from the Infrastructure Investment & Jobs Act, positioning it well for future growth in water infrastructure and fire protection markets.
Positive
Seeking Alpha
1 month ago
Core & Main: Demand Outlook For FY25 Is Positive
I reiterate a buy rating for CNM due to strong 3Q24 results, upgraded FY24 guidance, and a positive demand outlook for FY25. CNM's 3Q24 revenue of $2.038 billion and adj EBITDA of $277 million beat consensus, driven by acquisitions and volume growth. The positive FY25 outlook supported by favorable macroeconomic conditions, potential interest rate cuts, and increased infrastructure investments, despite short-term margin pressures.
Positive
Seeking Alpha
1 month ago
Core & Main: Despite A Stellar Quarter, Market-Beating Upside Is Unlikely
Core & Main's Q3 2024 results exceeded expectations, with revenue up 11.5% to $2.04 billion and EPS rising from $0.65 to $0.69. Despite strong performance, mixed cash flow metrics and high valuation justify maintaining a 'hold' rating for the stock. Management's commitment to growth is evident with 10 acquisitions this year, aiming for 2-4% annual organic and acquisition-driven revenue growth.
Positive
Investopedia
1 month ago
Core & Main Stock Soars on Strong Results, Boosted Outlook
Core & Main (CNM) shares soared 15% Tuesday as the company reported better-than-expected results and raised its outlook as it benefited from acquisitions.
Neutral
Seeking Alpha
1 month ago
Core & Main, Inc. (CNM) Q3 2024 Earnings Call Transcript
Core & Main, Inc. (NYSE:CNM ) Q3 2024 Earnings Conference Call December 3, 2024 9:00 AM ET Company Participants Robyn Bradbury - IR Steve LeClair - Chair and CEO Mark Witkowski - CFO Conference Call Participants Kathryn Thompson - Thompson Research Group. David Manthey - Baird Nigel Coe - Wolfe Research Mike Dahl - RBC Capital Markets Sam Reid - Wells Fargo Patrick Baumann - JPMorgan Joe Ritchie - Goldman Sachs Anthony Pettinari - Citigroup Matthew Bouley - Barclays David Ridley-Lane - Bank of America Operator Hello, and welcome to the Core & Main Q3 2024 Earnings Call.
Positive
Benzinga
1 month ago
Dow Falls Over 50 Points; Core & Main Posts Upbeat Earnings
U.S. stocks traded mostly lower this morning, with the Dow Jones index falling more than 50 points on Tuesday.
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