Core Investment Activity - Tribune Investment Group established a new position in Core & Main by acquiring 335,000 shares valued at approximately $18.03 million during the third quarter [1][2] - This new position accounts for 8.74% of Tribune's 13F reportable assets under management as of September 30 [3] Company Performance - Core & Main reported a revenue of $7.76 billion and a net income of $435 million for the trailing twelve months [4] - In the fiscal third quarter, sales rose 1.2% year over year to $2.06 billion, with a gross margin of 27.2% [11] - Net income for the quarter climbed to $143 million, adjusted EPS rose to $0.89, and operating cash flow reached $271 million [11] Market Position and Strategy - Core & Main is a leading distributor in the U.S. water and fire protection infrastructure market, focusing on essential utility and construction sectors [6] - The company operates a distribution-focused business model, generating revenue primarily through the sale of infrastructure products and value-added services [9] - Core & Main's strategic focus on aging water infrastructure and disciplined capital returns supports its resilience in varying economic cycles [12]

Core Insights - Core & Main, Inc. (CNM) is a leading distributor in the water, wastewater, storm drainage, and fire protection products sector in the United States, serving municipalities, private water companies, and professional contractors [1] - CNM reported earnings per share of $0.89, exceeding the estimated $0.73, and revenue of approximately $2.06 billion, slightly above the estimated $2.05 billion [6] Financial Performance - The company's price-to-earnings (P/E) ratio is around 22.57, indicating that investors are willing to pay $22.57 for every $1 of earnings [2] - CNM's price-to-sales ratio stands at about 1.26, showing that investors are paying $1.26 for every dollar of sales [3] - The enterprise value to sales ratio is around 1.57, reflecting the company's total valuation compared to its sales [3] - The enterprise value to operating cash flow ratio is approximately 19.71, indicating the relationship between the company's valuation and its cash flow from operations [4] - The earnings yield is about 4.43%, providing insight into the return on investment for shareholders [4] Financial Health - The company's debt-to-equity ratio is approximately 1.23, highlighting its financial leverage [5] - The current ratio of about 2.26 suggests that CNM has more than twice the current assets compared to its current liabilities, indicating good short-term financial health [5]

Core Insights - Core & Main Inc. (NYSE:CNM) is expanding its operations in Canada by acquiring Canada Waterworks, enhancing its growth potential in the region [1][3] - The acquisition is seen as a strategic move to build the Core & Main platform in Canada, particularly in Ontario [2][3] - Canada Waterworks specializes in water, wastewater, and storm drainage distribution in southern Ontario, which aligns with Core & Main's service offerings [3] Company Overview - Core & Main distributes water, wastewater, storm drainage, and fire protection products and related services primarily in the US [3] - The acquisition of Canada Waterworks will allow Core & Main to maintain a local presence in Canada while leveraging its resources for growth [3] Market Position - The company is recognized as a promising stock under $100, indicating potential investment interest [1] - While Core & Main shows promise, there are suggestions that certain AI stocks may offer greater upside potential with less downside risk [4]