Kenvue (US:KVUE) Youtube·2025-10-21 15:07Core Investment Thesis - Starboard Value's CEO Jeff Smith discussed investment opportunities in the construction industry, particularly focusing on a company named Floor, which is well-positioned due to reduced competition and improved contract quality [1][5][6] - The company has a strong management team and is expected to benefit from the ongoing reindustrialization in the U.S. [6][8] Company Performance and Valuation - Floor's enterprise value is approximately $6 billion, with its stake in New Scale valued at around $5 billion, indicating a significant portion of its value is tied to this investment [7] - The core business of Floor is undervalued, trading at about three times earnings, which is considered too cheap for a growing company [8] Strategic Recommendations - Starboard Value advocates for Floor to monetize its stake in New Scale to unlock value for shareholders, suggesting either a sale or other monetization strategies [9][11] - The management's commitment to enhancing shareholder returns through the New Scale investment has been acknowledged, but there is a call for a clearer separation of this stake from the core business [10][12] Ken View Investment Insights - Ken View, another investment by Starboard, has faced challenges, including a significant stock decline of 32% over the last six months [16] - Despite the downturn, the company possesses strong consumer health brands and is undergoing management changes, including a new CEO and CFO, while exploring strategic alternatives [15][18]