Fintel reports that on October 5, 2023, RBC Capital reiterated coverage of Core & Main Inc (NYSE:CNM) with a Outperform recommendation.
Analyst Price Forecast Suggests 28.43% Upside
As of October 5, 2023, the average one-year price target for Core & Main Inc is 38.30. The forecasts range from a low of 25.25 to a high of $59.85. The average price target represents an increase of 28.43% from its latest reported closing price of 29.82.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Core & Main Inc is 6,165MM, a decrease of 6.97%. The projected annual non-GAAP EPS is 1.78.
What is the Fund Sentiment?
There are 505 funds or institutions reporting positions in Core & Main Inc. This is an increase of 72 owner(s) or 16.63% in the last quarter. Average portfolio weight of all funds dedicated to CNM is 0.39%, an increase of 25.92%. Total shares owned by institutions decreased in the last three months by 8.07% to 241,104K shares. 
The put/call ratio of CNM is 0.24, indicating a bullish outlook.
What are Other Shareholders Doing?
Clayton, Dubilier & Rice holds 121,797K shares representing 71.94% ownership of the company. In it's prior filing, the firm reported owning 160,797K shares, representing a decrease of 32.02%. The firm increased its portfolio allocation in CNM by 39.11% over the last quarter.
Janus Henderson Group holds 5,764K shares representing 3.40% ownership of the company. In it's prior filing, the firm reported owning 7,845K shares, representing a decrease of 36.09%. The firm decreased its portfolio allocation in CNM by 7.16% over the last quarter.
Victory Capital Management holds 5,573K shares representing 3.29% ownership of the company. In it's prior filing, the firm reported owning 5,862K shares, representing a decrease of 5.18%. The firm increased its portfolio allocation in CNM by 25.75% over the last quarter.
Select Equity Group holds 4,818K shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 5,888K shares, representing a decrease of 22.21%. The firm increased its portfolio allocation in CNM by 16.12% over the last quarter.
Pictet Asset Management holds 4,233K shares representing 2.50% ownership of the company. In it's prior filing, the firm reported owning 3,923K shares, representing an increase of 7.32%. The firm increased its portfolio allocation in CNM by 138.53% over the last quarter.
Core & Main Background Information
(This description is provided by the company.)
Based in St. Louis, Core & Main is a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets nationwide. With more than 285 locations, the company provides its customers local expertise backed by a national supply chain. Core & Main’s 3,700 associates are committed to helping their communities thrive with safe and sustainable infrastructure.
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This story originally appeared on Fintel.
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