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Core & Main Priced, NYSE: CNM

Leading distributor of pipes and other industrial water infrastructure products.

Industry: Industrials

First Day Return: +18.5%

We are a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets nationwide. Our specialty products and services are used in the maintenance, repair, replacement and construction of water and fire protection infrastructure. We are one of only two national distributors operating across large and highly fragmented markets, estimated at approximately $27 billion in annual spend. Through our network of approximately 285 branch locations in 47 states and approximately 170 MSAs across the U.S., we serve as a critical link between over 4,500 suppliers and a diverse and long-standing base of over 60,000 customers. Given our scale, technical expertise and the specialized and critical nature of the products we distribute, we believe we are well-positioned to drive the adoption of new technologies that enhance the way water is managed, distributed, and used, and to benefit from industry trends including infrastructure spending to repair and upgrade existing aged infrastructure or to advance water conservation. We believe that our sales reach, technical knowledge, broad product portfolio, customer service, project planning and delivery capabilities, and ability to provide local expertise nationwide, make us a critical partner to both our customers and suppliers.

Core & Main (CNM) Performance

Created with Highcharts 10.3.2Chart context menuCNM vs. IPO Index (IPOUSA)Oct 2021Jan 2022Apr 2022Jul 2022Oct 2022Jan 2023Apr 2023Jul 2023Oct 2023Jan 2024Apr 2024Jul 2024Oct 2024Jan 2025Apr 2025Jul 20250%-75%-50%-25%+ 25%View 5 days5dView 1 month1mView 3 months3mView year to dateYTDView 1 year1yView allAllRenaissance IPO IndexOur ETF tracks the IPO Index