Tribune Investment Group Acquires 335,000 Shares of Core & Main Worth $18.03 Million

Written by Emily J. Thompson, Senior Investment Analyst

Source: NASDAQ.COM

Updated: Dec 28 2025

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CNM-1.19%

Should l Buy CNM?

Source: NASDAQ.COM

Position Increase: Tribune Investment Group acquired 335,000 shares of Core & Main in Q3, valued at approximately $18.03 million, making it the fund's largest holding, reflecting confidence in the infrastructure market.
Asset Allocation: This new position accounts for 8.74% of Tribune's 13F reportable assets, indicating a strategic focus on the water and fire protection infrastructure market to enhance portfolio stability through diversification.
Financial Performance: Core & Main reported a 1.2% year-over-year sales increase to $2.06 billion in Q3, with gross margin expanding to 27.2% and net income reaching $143 million, demonstrating resilience and consistent cash flow generation amid economic fluctuations.
Buyback Plan: The company repurchased $50 million of stock at quarter-end and increased its buyback authorization by another $500 million, signaling a commitment to shareholder returns while reflecting confidence in future growth.

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Analyst Views on CNM

Wall Street analysts forecast CNM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CNM is 58.88 USD with a low forecast of 40.00 USD and a high forecast of 65.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

9 Analyst Rating

6 Buy

2 Hold

1 Sell

Moderate Buy

Current: 56.520

Low

40.00

Averages

58.88

High

65.00

Current: 56.520

Low

40.00

Averages

58.88

High

65.00

RBC Capital

Outperform

maintain

$62 -> $63

2026-01-09

Reason

RBC Capital

Price Target

$62 -> $63

AI Analysis

2026-01-09

maintain

Outperform

Reason

RBC Capital raised the firm's price target on Core & Main to $63 from $62 and keeps an Outperform rating on the shares. Goldman remains cautious into early 2026, with housing affordability still challenging and R&R potentially inflecting later in the year, the analyst tells investors in a research note. Nonresidential markets are mixed, key risks include policy changes, rates, and tariffs, and the sector is expected to remain volatile, with homebuilders the most cautious, distribution favored, and building products OEMs offering relatively attractive valuations.

RBC Capital

Outperform

maintain

$62 -> $63

2026-01-09

Reason

RBC Capital

Price Target

$62 -> $63

2026-01-09

maintain

Outperform

Reason

RBC Capital raised the firm's price target on Core & Main to $63 from $62 and keeps an Outperform rating on the shares. RBC Capital remains cautious into early 2026, with housing affordability still challenging and R&R potentially inflecting later in the year, the analyst tells investors in a research note. Nonresidential markets are mixed, key risks include policy changes, rates, and tariffs, and the sector is expected to remain volatile, with homebuilders the most cautious, distribution favored, and building products OEMs offering relatively attractive valuations.

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About CNM

Core & Main, Inc. specializes in advancing reliable infrastructure with local service, nationwide. The Company, as a specialty distributor with a focus on water, wastewater, storm drainage and fire protection products and related services, provides solutions to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets. With more than 370 locations across the United States, the Company provides its customers local expertise backed by a national supply chain. The Company also has operations in Canada. The Company’s products include pipes, valves, fittings, storm drainage products, fire protection products, meter products and other products. The Company complements its core products through additional offerings, including fusible high-density polyethylene (fusible HDPE) piping solutions, specifically engineered treatment plant products, geosynthetics and erosion control products.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

QXO Inc Raises $3 Billion, Plans Major Acquisition Over $5 Billion

Jan 14 2026Yahoo Finance

Accelerated Acquisition Plans: Following a successful $3 billion capital raise, QXO Inc is in late-stage talks with seven potential acquisition targets, with annual revenues ranging from $1 billion to over $5 billion, indicating a strong intent to expand its business.
Flexible Fund Utilization: This financing boosts QXO's available capital to approximately $10 billion, with analysts noting that this will enable the company to pursue larger transactions, thereby achieving a more competitive valuation in the market.
Clear Acquisition Timeline: QXO is required to complete at least one acquisition by July 15, 2026, although the company is already prepared for a second and possibly third acquisition, reflecting its aggressive acquisition strategy.
Optimistic Market Response: Analysts are bullish on QXO's acquisition prospects, viewing the M&A pipeline as a primary driver for stock performance, and expect effective capital deployment to further lower the company's valuation while offsetting dilution from transactions.

Core & Main Acquires Pioneer Supply to Expand Texas Market Presence

Jan 05 2026Newsfilter

Market Expansion Opportunity: Core & Main has entered into a definitive agreement to acquire Pioneer Supply, which operates multiple distribution points in Texas and Oklahoma, significantly enhancing its market share in these states and expected to drive future growth.
Brand Synergy: With a strong reputation for quality service established since 1963, Pioneer Supply's integration with Core & Main aligns perfectly with the company's mission, enhancing customer value and competitive positioning in the market.
Diverse Customer Base: Pioneer Supply serves municipal, residential, and non-residential markets, and the acquisition will enable Core & Main to better meet diverse customer needs, thereby expanding its product and service offerings.
Strategic Integration Plan: This acquisition not only represents a direct expansion of Core & Main's business but will also enhance overall operational efficiency through resource integration and supply chain optimization, further solidifying its leadership position in the infrastructure sector.

Tribune Investment Group Acquires 335,000 Shares of Core & Main Valued at $18.03 Million

Dec 28 2025Fool

New Position Established: Tribune Investment Group initiated a new holding in Core & Main during Q3, acquiring 335,000 shares valued at approximately $18.03 million, indicating confidence in the company's prospects.
Asset Allocation Optimization: This acquisition accounts for 8.74% of Tribune's 13F reportable assets, reflecting Core & Main's significance in the infrastructure sector.
Strong Financial Performance: Core & Main reported a 1.2% year-over-year sales increase to $2.06 billion in Q3, with net income reaching $143 million, demonstrating resilience amid market volatility.
Enhanced Buyback Program: The company repurchased $50 million in stock and increased its buyback authorization by $500 million after the quarter-end, signaling confidence in future growth and proactive capital management.