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Core & Main Shares Loved by Big Money

By:
Lucas Downey
Published: Apr 19, 2024, 15:44 GMT+00:00

Core & Main, Inc. (CNM) shares are up 35% in 2024 so far. Incredibly, Big Money investors been all over this stock for a long time.

US Traders, FX Empire

In this article:

Core & Main Rises on Big Money Flows

Institutional volumes reveal a lot. In the past year, our proprietary signals indicate CNM has enjoyed plenty of strong demand, which we believe to be heavy institutional support.

Each green bar signals unusual trading action in CNM shares. The green color indicates our proprietary inflow signal:

Source: www.mapsignals.com

Plenty of industrials names are under accumulation right now. But when you dive into the fundamentals, there’s a special tailwind going on with Core & Main.

Core & Main Fundamental Analysis

Institutional support and healthy fundamentals make this company worth a look. As you can see, CNM has had strong sales and EPS growth in recent years:

  • 3-year sales growth rate (+23.7%)
  • 3-year EPS growth rate (+124.6%)

Source: FactSet

The one-year EPS outlook is estimated to increase by +14.6%.

Now it makes sense why the stock has been powering to new heights. CNM is gaining due to a healthy earnings picture.

Combining great fundamentals with our proprietary software has found some big winning stocks over the long term.

CNM has recently been a top-rated stock at MAPsignals. That means the stock has unusual buy pressure and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.

It’s made the rare Top 20 report numerous times. The blue bars below show when CNM was a top pick…Big Money inflows are driving it higher.

Source: www.mapsignals.com

Tracking unusual volumes is a great way to discover Big Money interest.

This is a trait that most outlier stocks exhibit – Big Money buys them in big volumes.

Core & Main Price Prediction

The CNM rally isn’t new at all. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.

Disclosure: the author holds no position in CNM at the time of publication.

If you are a Registered Investment Advisor (RIA) or a serious investor looking to take your investing to the next level, learn more about the MAPsignals process here.

About the Author

Lucas Downeycontributor

Lucas is a well-versed equity investor and educator. He currently is co-founder of research and analytics firm, MAPsignals.com, which focuses on finding outlier stocks by following the Big Money.

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