Baird Cuts Core & Main (NYSE: CNM) Target to $65

Core & Main stock (NYSE: CNM) saw its price target modestly revised downwards by Baird from $66 to $65, despite maintaining an Outperform rating on the stock. Baird's continued endorsement of Core & Main as a “top idea,” shows plenty of faith in the company's outlook despite the trimmed PT.

The adjustment followed the release of Core & Main's fourth-quarter earnings, which, according to Baird, contained no surprises in results or outlook. Core & Main's shares are trading slightly higher at $49.60, a minor increase of 0.16%. Founded in 1874 and based in Saint Louis, Missouri, Core & Main operates in the Industrial Distribution sector, offering products and services essential for water, wastewater, storm drainage, and fire protection infrastructure.

The company holds a market capitalization of roughly $9.83 billion, and holds a 52-week low of $37.22 and a high of $62.15.

Core & Main, with its long history and specialisation in essential infrastructure products, has established itself as a pivotal player in its field. The company's latest financial figures reflect a trailing P/E ratio of 23.25 and a forward P/E ratio of 20.21, indicative of anticipated growth. With total revenues at $7.44 billion and a net income to common shareholders of $411 million, the financial health of Core & Main seems robust. Despite not offering dividends, the company shows a strong financial discipline with a payout ratio of 0.0.

Institutional investors hold a significant stake in the company's dynamic, with insiders holding approximately 0.347% and institutions owning 108.097%. As of the latest data, Core & Main's float stands at 176,549,150 shares with 190,059,008 shares outstanding.

Analysts remain optimistic, with a mean price target of $60.135 and leaning towards a “buy” recommendation, as reflected by a recommendation mean of 2.0 based on 14 analyst opinions. The general consensus signals an expectation of continued positive performance, backed by Core & Main's entrenched market position within the industrials sector.