Core & Main, Inc. Class A (CNM)

In September 2025, Core & Main announced positive fiscal 2025 second-quarter results and the acquisition of Canada Waterworks, but missed revenue expectations, leading to a stock price drop. In December 2025, the company released positive fiscal 2025 third-quarter results, completed the Canada Waterworks acquisition, and increased share repurchase authorization, though the stock had declined since August 2025. In January 2026, Core & Main announced and closed the acquisition of Pioneer Supply, and in February 2026, they announced a new facility in Columbus, Ohio.

Demand for Core & Main's products and services is stable and recurring, driven by essential water and wastewater replacement cycles, infrastructure spending, and regulatory upgrades. The market for storm drainage products is expanding due to increasing focus on climate resilience.

Core & Main provides essential products and services for the maintenance, repair, replacement, and construction of critical water, wastewater, storm drainage, and fire protection infrastructure. Its product portfolio includes pipes, valves, hydrants, fittings, smart meters, and engineered treatment plant products, serving municipalities, private water companies, and professional contractors.

Core & Main operates approximately 351 to 370 branches across the United States, combining local expertise with a national supply chain.

Core & Main maintains a positive brand reputation due to strong business performance, strategic expansions, and its role in infrastructure development. Analyst sentiment is positive, citing consistent demand for water repairs, robust gross margins, and strategic acquisitions.

Institutional investors hold 93.57% of Core & Main's shares, with major holders including BlackRock, Inc., and Vanguard Group Inc. Individual owners include Laura Schneider, Mark Witkowski, Dennis Gipson, Kathleen Mazzarella, and Orv Kimbrough.