Core & Main (CNM)

• Market cap: $9.41B
• 1 day: -0.04%
• 5 days: 3.04%
• 1 month: -2.48%
• 3 months: -4.07%
• 6 months: 9.32%
• Year to date: -3.57%
• 1 year: -13.58%
• 5 years: 108.86%
• 10 years: 108.86%
• Sector: Industrials
• Industry: Durable Goods, Not Elsewhere Classified

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

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

48% more first-time investments, than exits

New positions opened: 83 | Existing positions closed: 56

46% more call options, than puts

Call options by funds: $29.5M | Put options by funds: $20.2M

29% more funds holding in top 10

Funds holding in top 10: 7 [Q3] → 9 (+2) [Q4]

14% more capital invested

Capital invested by funds: $8.91B [Q3] → $10.2B (+$1.27B) [Q4]

6% more funds holding

Funds holding: 381 [Q3] → 404 (+23) [Q4]

1.12% more ownership

Funds ownership: 104.2% [Q3] → 105.32% (+1.12%) [Q4]

8% more repeat investments, than reductions

Existing positions increased: 142 | Existing positions reduced: 131

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $56 13% upside
• Avg. target: $62 24% upside
• High target: $65 31% upside

4 analyst ratings

• positive: 3 75%
• neutral: 1 25%
• negative: 0 0%

RBC Capital Mike Dahl 50% 1-year accuracy 27 / 54 met price target	21% upside $60	Outperform Maintained	26 Mar 2025
Baird David Manthey 35% 1-year accuracy 14 / 40 met price target	31% upside $65	Outperform Maintained	26 Mar 2025
Wells Fargo Sam Reid 28% 1-year accuracy 9 / 32 met price target	31% upside $65	Overweight Maintained	4 Feb 2025
Citigroup Anthony Pettinari 30% 1-year accuracy 32 / 105 met price target	13% upside $56	Neutral Maintained	6 Jan 2025