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California State Teachers Retirement System lifted its stake in Core & Main, Inc. (NYSE:CNM – Free Report) by 4,688.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,532,203 shares of the company’s stock after acquiring an additional 10,312,269 shares during the quarter. California State Teachers Retirement System owned approximately 5.44% of Core & Main worth $508,179,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV boosted its position in Core & Main by 4.5% during the first quarter. KBC Group NV now owns 2,737,992 shares of the company’s stock worth $135,257,000 after purchasing an additional 119,076 shares during the period. WINTON GROUP Ltd raised its position in shares of Core & Main by 177.4% in the fourth quarter. WINTON GROUP Ltd now owns 33,015 shares of the company’s stock valued at $1,716,000 after purchasing an additional 21,113 shares during the period. Fox Hill Wealth Management acquired a new stake in shares of Core & Main in the fourth quarter worth $2,798,000. Bessemer Group Inc. lifted its stake in shares of Core & Main by 2.8% in the first quarter. Bessemer Group Inc. now owns 2,663,161 shares of the company’s stock worth $131,561,000 after buying an additional 72,712 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Core & Main by 742.6% during the 1st quarter. Fifth Third Bancorp now owns 66,014 shares of the company’s stock worth $3,261,000 after buying an additional 58,179 shares during the period. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Stock Up 0.5% NYSE CNM opened at $40.82 on Tuesday. The firm has a market cap of $7.90 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. Core & Main, Inc. has a one year low of $40.03 and a one year high of $59.66. The stock’s 50 day simple moving average is $44.38 and its 200 day simple moving average is $47.67. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.47 and a quick ratio of 1.51.

Core & Main (NYSE:CNM – Get Free Report) last announced its earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. Core & Main had a net margin of 5.96% and a return on equity of 25.98%. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm posted $0.87 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts forecast that Core & Main, Inc. will post 3 earnings per share for the current fiscal year. Insider Buying and Selling In related news, Director James Hope bought 2,067 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was bought at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the transaction, the director owned 11,805 shares of the company’s stock, valued at $543,148.05. This represents a 21.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.51% of the company’s stock.

Analyst Ratings Changes A number of equities research analysts have issued reports on the stock. Wall Street Zen cut shares of Core & Main from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft set a $55.00 price objective on Core & Main in a research note on Thursday. The Goldman Sachs Group restated a “neutral” rating and set a $53.00 target price on shares of Core & Main in a research note on Thursday. Truist Financial dropped their price target on Core & Main from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Thursday, September 10th. Finally, Barclays cut their price target on Core & Main from $62.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.90.

View Our Latest Analysis on Core & Main

Core & Main Company Profile (Free Report)

Core & Main, Inc (NYSE: CNM) is a specialized distributor of water, wastewater, storm drainage and fire protection products in the United States. The company supplies infrastructure materials used in the construction, maintenance and repair of public and private utility systems.

Its product offerings include ductile iron and PVC pipe, valves, hydrants, water meters, storm drainage systems, pipe fittings, fire protection equipment and related products. Core & Main also provides services such as product sourcing, technical support, fabrication, field assistance and inventory management to help customers complete infrastructure projects.

Core & Main serves municipalities, utility contractors, water and wastewater authorities, private water companies, civil and site-development contractors, and other industrial customers through a nationwide distribution network.

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Core & Main, Inc. (CNM) Q2 2027 Earnings Call Transcript

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling around 200 points on Wednesday.

The Dow traded down 0.77% to 52,380.01 while the NASDAQ dipped 0.81% to 26,208.49. The S&P 500 also fell, dropping, 0.58% to 7,629.43.

Leading and Lagging Sectors

Energy shares jumped by 1% on Wednesday.

In trading on Wednesday, consumer discretionary stocks fell by 1.6%.

Top Headline

Core & Main Inc (NYSE:CNM) reported upbeat earnings for the second quarter.

The company posted quarterly earnings of 94 cents per share which beat the analyst consensus estimate of 92 cents per share. The company reported quarterly sales of $2.145 billion which beat the analyst consensus estimate of $2.136 billion.

Equities Trading UP
           

Signet Jewelers Ltd (NYSE:SIG) shares shot up 18% to $97.63 after the company reported better-than-expected second-quarter earnings and raised its FY27 adjusted EPS guidance. Shares of Opus Genetics Inc (NASDAQ:IRD) got a boost, surging 42% to $6.15 after the company announced 3- and 6-month results from the low-dose Cohort 1 of BIRD-1, its ongoing Phase 1/2 clinical trial evaluating OPGx-BEST1 in patients with BEST1-related retinal diseases, including Best vitelliform macular dystrophy and autosomal recessive bestrophinopathy. Oddity Tech Ltd (NASDAQ:ODD) shares were also up, gaining 18% to $15.35 after the company reported better-than-expected second-quarter financial results and issued third-quarter sales guidance above estimates. Also, the company issued FY26 sales guidance above estimates. Trending

Equities Trading DOWN

Green Circle Decarbonize Technology Ltd (NASDAQ:GCDT) shares dropped 33% to $0.61 after the company announced a strategic partnership agreement with SANVO Fine Chemicals Group Limited for the mass production of BocaPCM-TES Panels in China. Shares of Caseys General Stores Inc (NASDAQ:CASY) were down 17% to $608.47 following first-quarter results. ServiceTitan Inc (NASDAQ:TTAN) was down, falling 30% to $57.35 after the company reported second-quarter financial results and issued third-quarter sales guidance with its midpoint below estimates. Commodities

In commodity news, oil traded up 3.6% to $96.34 while gold traded up 0.1% at $4,439.30.

Silver traded up 1.4% to $67.925 on Wednesday, while copper rose 0.1% to $6.8245.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 dipped 1.2%, while Spain’s IBEX 35 Index fell 1.75%, London’s FTSE 100 declined 1%, Germany’s DAX dipped 1.7%, while France’s CAC 40 tumbled 1.5%.

Asia Pacific Markets

Asian markets closed mostly lower on Wednesday, with Japan’s Nikkei 225 falling 0.19%, Hong Kong’s Hang Seng index falling 0.17%, China’s Shanghai Composite gaining 0.28% and India’s BSE Sensex dipping 1.08%.

Economics

The volume of mortgage applications dipped by 2.7% during the first week of September.

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Core & Main (CNM - Free Report) came out with quarterly earnings of $0.94 per share, beating the Zacks Consensus Estimate of $0.93 per share. This compares to earnings of $0.87 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +1.08%. A quarter ago, it was expected that this distributor of water and fire protection products would post earnings of $0.7 per share when it actually produced earnings of $0.72, delivering a surprise of +2.86%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Core & Main, which belongs to the Zacks Manufacturing - Tools & Related Products industry, posted revenues of $2.15 billion for the quarter ended July 2026, surpassing the Zacks Consensus Estimate by 0.17%. This compares to year-ago revenues of $2.09 billion. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Core & Main shares have lost about 15.2% since the beginning of the year versus the S&P 500's gain of 12.1%.

What's Next for Core & Main?While Core & Main has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Core & Main was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.96 on $2.15 billion in revenues for the coming quarter and $3.15 on $7.88 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Manufacturing - Tools & Related Products is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Apogee Enterprises (APOG - Free Report) , another stock in the broader Zacks Industrial Products sector, has yet to report results for the quarter ended August 2026.

This glass products company is expected to post quarterly earnings of $0.59 per share in its upcoming report, which represents a year-over-year change of -39.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Apogee Enterprises' revenues are expected to be $362.61 million, up 1.2% from the year-ago quarter.

Core & Main, Inc. (NYSE:CNM) will release its second quarter earnings report before the opening bell on Wednesday, Sept. 9.

Analysts expect the Saint Louis, Missouri-based company to report quarterly earnings of 86 cents per share, up from 70 cents per share in the year-ago period. The consensus estimate for Core & Main’s quarterly revenue is $2.14 billion. It reported $2.09 billion last year, according to Benzinga Pro.

On June 10, Core & Main reported upbeat earnings for the first quarter.

Shares of Core & Main fell 0.6% to close at $44.06 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

William Blair analyst Ryan Merkel initiated coverage on the stock with a Market Perform rating on July 23, 2026. This analyst has an accuracy rate of 66%. Citigroup analyst Anthony Pettinari maintained a Neutral rating and cut the price target from $54 to $53 on June 11, 2026. This analyst has an accuracy rate of 70%. Barclays analyst Matthew Bouley maintained an Overweight rating and lowered the price target from $63 to $62 on March 25, 2026. This analyst has an accuracy rate of 64%. Wells Fargo analyst Sam Reid maintained an Overweight rating and raised the price target from $57 to $65 on Jan. 14, 2026. This analyst has an accuracy rate of 60%. JP Morgan analyst Stephen Tusa maintained an Overweight rating and increased the price target from $58 to $59 on Dec. 10, 2025. This analyst has an accuracy rate of 69%. Trending

Considering buying CNM stock? Here’s what analysts think:

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ST. LOUIS--(BUSINESS WIRE)--Core & Main to Announce Fiscal 2026 Second Quarter Results.

In the latest trading session, Core & Main (CNM - Free Report) closed at $44.46, marking a -1.83% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.87%. Meanwhile, the Dow lost 1.32%, and the Nasdaq, a tech-heavy index, lost 1%.

The distributor of water and fire protection products's shares have seen an increase of 3.52% over the last month, surpassing the Industrial Products sector's gain of 0.29% and the S&P 500's gain of 3.48%.

The upcoming earnings release of Core & Main will be of great interest to investors. The company is forecasted to report an EPS of $0.93, showcasing a 6.9% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $2.14 billion, indicating a 2.31% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $3.15 per share and a revenue of $7.88 billion, demonstrating changes of +6.06% and +3.01%, respectively, from the preceding year.

Any recent changes to analyst estimates for Core & Main should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.65% rise in the Zacks Consensus EPS estimate. Core & Main is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Core & Main is presently being traded at a Forward P/E ratio of 14.39. This expresses a discount compared to the average Forward P/E of 18.79 of its industry.

It's also important to note that CNM currently trades at a PEG ratio of 1.53. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Manufacturing - Tools & Related Products industry stood at 1.47 at the close of the market yesterday.

The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 85, placing it within the top 35% of over 250 industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

Core & Main is initiated with a Buy rating and a $62 price target, implying 35.6% upside as growth trends improve. Recent underperformance stems from sluggish revenue growth, particularly in the PVF segment, but easier comps and segment rebounds are expected to drive sequential acceleration. CNM's diversified product mix, strong M&A track record, and disciplined pricing position the company for margin expansion and potential multiple rerating.

E. Ohman J or Asset Management AB trimmed its stake in shares of Core and Main, Inc. (NYSE: CNM) by 83.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,106 shares of the company's stock after selling 259,424 shares during the

Posted by Defense World Staff on Aug 4th, 2026

California State Teachers Retirement System increased its position in shares of Core & Main, Inc. (NYSE:CNM – Free Report) by 22.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 219,934 shares of the company’s stock after purchasing an additional 40,050 shares during the period. California State Teachers Retirement System owned about 0.11% of Core & Main worth $10,865,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Core & Main by 145.4% during the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 269 shares during the period. TD Waterhouse Canada Inc. acquired a new stake in shares of Core & Main in the 4th quarter valued at $26,000. Whittier Trust Co. bought a new stake in shares of Core & Main in the 4th quarter worth about $28,000. Cubist Systematic Strategies LLC grew its holdings in shares of Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after purchasing an additional 524 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Core & Main during the 4th quarter worth about $38,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets Several brokerages have issued reports on CNM. Wall Street Zen upgraded Core & Main from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Citigroup decreased their target price on Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, June 11th. William Blair assumed coverage on Core & Main in a research note on Thursday, July 23rd. They issued a “market perform” rating for the company. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $24.00 price target on shares of Core & Main in a report on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.70.

View Our Latest Analysis on CNM

Core & Main Stock Up 4.1% Shares of Core & Main stock opened at $45.78 on Tuesday. The company has a market capitalization of $8.86 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 1.51 and a beta of 0.92. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31. The business has a 50-day moving average of $46.98 and a two-hundred day moving average of $50.30. Core & Main, Inc. has a 1 year low of $41.88 and a 1 year high of $67.18.

Insider Activity at Core & Main In related news, Director James D. Hope bought 2,067 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were acquired at an average price of $46.01 per share, for a total transaction of $95,102.67. Following the completion of the acquisition, the director owned 11,805 shares of the company’s stock, valued at approximately $543,148.05. The trade was a 21.23% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.51% of the stock is currently owned by corporate insiders.

About Core & Main (Free Report)

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.

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Core & Main (CNM - Free Report) closed the most recent trading day at $42.37, moving -3.66% from the previous trading session. This change lagged the S&P 500's daily loss of 1.52%. Meanwhile, the Dow experienced a drop of 2.19%, and the technology-dominated Nasdaq saw a decrease of 1.74%.

The distributor of water and fire protection products's shares have seen a decrease of 8.85% over the last month, not keeping up with the Industrial Products sector's loss of 3.67% and the S&P 500's gain of 1.92%.

Investors will be eagerly watching for the performance of Core & Main in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.93, signifying a 6.90% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $2.14 billion, up 2.31% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.15 per share and a revenue of $7.88 billion, representing changes of +6.06% and +3.01%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Core & Main. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.65% increase. At present, Core & Main boasts a Zacks Rank of #2 (Buy).

With respect to valuation, Core & Main is currently being traded at a Forward P/E ratio of 13.98. This indicates a discount in contrast to its industry's Forward P/E of 18.75.

Meanwhile, CNM's PEG ratio is currently 1.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Manufacturing - Tools & Related Products industry stood at 1.37 at the close of the market yesterday.

The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 189, finds itself in the bottom 24% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow CNM in the coming trading sessions, be sure to utilize Zacks.com.

Investors interested in stocks from the Manufacturing - Tools & Related Products sector have probably already heard of Core & Main (CNM - Free Report) and Lincoln Electric Holdings (LECO - Free Report) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.

Core & Main has a Zacks Rank of #2 (Buy), while Lincoln Electric Holdings has a Zacks Rank of #3 (Hold) right now. This means that CNM's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is just one factor that value investors are interested in.

Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.

Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.

CNM currently has a forward P/E ratio of 13.86, while LECO has a forward P/E of 22.94. We also note that CNM has a PEG ratio of 1.47. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. LECO currently has a PEG ratio of 1.53.

Another notable valuation metric for CNM is its P/B ratio of 3.98. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, LECO has a P/B of 9.03.

Based on these metrics and many more, CNM holds a Value grade of B, while LECO has a Value grade of D.

CNM is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that CNM is likely the superior value option right now.

Core & Main (CNM - Free Report) closed at $44.66 in the latest trading session, marking a -1.24% move from the prior day. This move lagged the S&P 500's daily gain of 0.38%. On the other hand, the Dow registered a gain of 0.29%, and the technology-centric Nasdaq increased by 0.62%.

Coming into today, shares of the distributor of water and fire protection products had lost 5.34% in the past month. In that same time, the Industrial Products sector gained 0.99%, while the S&P 500 gained 1.61%.

Investors will be eagerly watching for the performance of Core & Main in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.94, showcasing a 8.05% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $2.14 billion, up 2.42% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates project earnings of $3.13 per share and a revenue of $7.89 billion, demonstrating changes of +5.39% and +3.12%, respectively, from the preceding year.

Investors might also notice recent changes to analyst estimates for Core & Main. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Core & Main currently has a Zacks Rank of #2 (Buy).

Digging into valuation, Core & Main currently has a Forward P/E ratio of 14.45. This indicates a discount in contrast to its industry's Forward P/E of 17.31.

Meanwhile, CNM's PEG ratio is currently 1.53. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Manufacturing - Tools & Related Products industry had an average PEG ratio of 1.22.

The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 107, placing it within the top 44% of over 250 industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

ST. LOUIS--(BUSINESS WIRE)--Core & Main Announces Pricing of Senior Notes Offering.

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?

Let's take a look at what these Wall Street heavyweights have to say about Core & Main (CNM - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.

Core & Main currently has an average brokerage recommendation (ABR) of 2.00, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 14 brokerage firms. An ABR of 2.00 indicates Buy.

Of the 14 recommendations that derive the current ABR, seven are Strong Buy and one is Buy. Strong Buy and Buy respectively account for 50% and 7.1% of all recommendations.

Brokerage Recommendation Trends for CNM

Check price target & stock forecast for Core & Main here>>>

While the ABR calls for buying Core & Main, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.

Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.

In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.

With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.

Zacks Rank Should Not Be Confused With ABRAlthough both Zacks Rank and ABR are displayed in a range of 1--5, they are different measures altogether.

The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.

On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

In addition, the different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates. In other words, this tool always maintains a balance among its five ranks.

Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.

Is CNM a Good Investment?Looking at the earnings estimate revisions for Core & Main, the Zacks Consensus Estimate for the current year has increased 0.5% over the past month to $3.13.

Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Core & Main. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Therefore, the Buy-equivalent ABR for Core & Main may serve as a useful guide for investors.

Core & Main is a durable growth platform in water infrastructure, supported by structural demand and disciplined execution. CNM's diversified end markets and scale have enabled 16 consecutive years of sales growth, with recent margin expansion and above-market organic growth. Structural drivers include aging U.S. water systems, complex infrastructure projects, and incremental demand from AI and data center growth.

Core & Main (CNM - Free Report) closed the most recent trading day at $49.51, moving -1.63% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.49% for the day. At the same time, the Dow lost 0.05%, and the tech-heavy Nasdaq lost 0.9%.

Coming into today, shares of the distributor of water and fire protection products had gained 5.4% in the past month. In that same time, the Industrial Products sector gained 9.05%, while the S&P 500 gained 12.8%.

The investment community will be closely monitoring the performance of Core & Main in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.7, marking a 34.62% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.9 billion, showing a 0.37% drop compared to the year-ago quarter.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.11 per share and revenue of $7.91 billion. These totals would mark changes of +4.71% and +3.48%, respectively, from last year.

Any recent changes to analyst estimates for Core & Main should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Core & Main currently has a Zacks Rank of #4 (Sell).

Looking at valuation, Core & Main is presently trading at a Forward P/E ratio of 16.17. This expresses a discount compared to the average Forward P/E of 17.45 of its industry.

We can also see that CNM currently has a PEG ratio of 1.78. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Manufacturing - Tools & Related Products industry had an average PEG ratio of 1.45.

The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 24, positioning it in the top 10% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow CNM in the coming trading sessions, be sure to utilize Zacks.com.

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?

Let's take a look at what these Wall Street heavyweights have to say about Core & Main (CNM - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.

Core & Main currently has an average brokerage recommendation (ABR) of 1.93, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 15 brokerage firms. An ABR of 1.93 approximates between Strong Buy and Buy.

Of the 15 recommendations that derive the current ABR, eight are Strong Buy and one is Buy. Strong Buy and Buy respectively account for 53.3% and 6.7% of all recommendations.

Brokerage Recommendation Trends for CNM

Check price target & stock forecast for Core & Main here>>>

While the ABR calls for buying Core & Main, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.

Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.

In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.

With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.

Zacks Rank Should Not Be Confused With ABRAlthough both Zacks Rank and ABR are displayed in a range of 1--5, they are different measures altogether.

Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.

In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.

Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.

Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.

Should You Invest in CNM?Looking at the earnings estimate revisions for Core & Main, the Zacks Consensus Estimate for the current year has declined 0.5% over the past month to $3.11.

Analysts' growing pessimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates lower, could be a legitimate reason for the stock to plunge in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for Core & Main. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Therefore, it could be wise to take the Buy-equivalent ABR for Core & Main with a grain of salt.

ST. LOUIS--(BUSINESS WIRE)--Core & Main to Announce Fiscal 2026 First Quarter Results.

NYSE Content Update: Applied Aerospace and Defense Raises $650 Million in IPO PR Newswire NEW YORK, June 3, 2026

ST. LOUIS--(BUSINESS WIRE)--Core & Main Announces Fiscal 2026 First Quarter Results.

Med-tech stock Conmed dips ahead of big Q4 report...opportunity?Core & Main NYSE: CNM reaffirmed its fiscal 2026 outlook after reporting first-quarter results that management said reflected resilient municipal demand, disciplined pricing and margin initiatives, despite continued pressure in residential lot development.

The water, wastewater, storm drainage and fire protection products distributor reported first-quarter net sales of $1.9 billion, roughly in line with the prior year. Adjusted EBITDA was $226 million, up 1% year over year, while adjusted diluted earnings per share rose about 6% to $0.72 from $0.68 a year earlier.

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Chief Executive Officer Mark Witkowski said the company delivered “a solid start to fiscal 2026,” citing “disciplined execution and the underlying resilience” of the business. He said the results support the full-year outlook Core & Main issued in March.

Municipal Demand Remains Core Growth Driver Witkowski said municipal demand remained strong during the quarter and continues to be a “core source of growth” for Core & Main. He pointed to aging water infrastructure, repair and replacement activity, and the largely non-discretionary nature of municipal spending as key drivers.

Management emphasized that municipal water infrastructure funding is largely local. Witkowski said approximately 95% of water infrastructure funding is supported by state and local sources, reinforcing what he described as the durable nature of the market.

Chief Financial Officer Robyn Bradbury said municipal volumes were supported by repair and replacement activity, non-discretionary projects and continued share gains in smart utility and treatment plant initiatives. In response to an analyst question about the Infrastructure Investment and Jobs Act, Bradbury said remaining funding is expected to flow into state revolving funds this year, but added that the company does not see a funding “cliff,” because much of the money remains available for municipalities and because state and local funding remains the dominant source of water infrastructure investment.

Residential Still Soft, Non-Residential Mixed Core & Main said residential markets remained challenged, with year-over-year declines against a strong prior-year comparison. Witkowski said residential lot development began fiscal 2025 with optimism before pulling back later in the year. Since then, he said conditions have largely stabilized, with no further deterioration from the end of fiscal 2025 but no meaningful improvement either.

Bradbury said residential softness was most pronounced in Sun Belt markets and reflected slower lot development activity compared with the prior year. She said sequential residential demand was stable relative to the fourth quarter and in line with expectations.

Non-residential demand was described as mixed but stable overall. Management cited healthy momentum in data centers and manufacturing facilities, which helped offset softness in traditional commercial construction, including retail and office-related activity. Witkowski said data centers represent a compelling long-term opportunity because they require water, wastewater, storm drainage and fire protection infrastructure, including significant water infrastructure for cooling systems.

Fire protection was a standout category in the quarter. In the question-and-answer session, Witkowski said the business benefited from data center activity, steady-to-positive multifamily demand and higher steel pricing after a period when steel had been a drag. He also said Core & Main’s performance in fire protection has improved over the past 12 to 18 months and that the company believes it is gaining share.

Smart Utility and Treatment Plant Initiatives Continue to Expand President Brad Cowles highlighted smart utility and treatment plant solutions as important municipal growth drivers. He said municipalities and private utilities are increasingly focused on modernizing metering infrastructure to improve billing accuracy, reduce non-revenue water, enhance visibility and operate more efficiently.

Cowles said Core & Main differentiates itself by offering a turnkey smart utility model that includes hardware, software, analytics, installation, project management and ongoing service. He said the company continues to win large, multi-year projects and referenced a previously announced award that Core & Main believes is the largest smart utility contract in U.S. history.

Witkowski said smart utility solutions delivered high single-digit growth during the quarter. In response to analyst questions about meter-market concerns at original equipment manufacturers, Cowles said Core & Main is benefiting from large integrated projects, while some meter manufacturers may be more exposed to smaller ongoing maintenance and residential-related demand, where activity is softer.

Treatment plant solutions delivered double-digit growth in the quarter, according to management. Cowles said treatment plant modernization is being driven by aging facilities, regulatory requirements and greater demands on water and wastewater systems. He said treatment plant projects range from smaller rehabilitation work to major facility retrofits and new construction, though complete new builds are less common.

Witkowski said treatment plant sales are in the mid-single-digit range as a share of Core & Main’s sales, and management sees opportunities to expand the addressable products and services it can provide. Cowles said acquisitions could help add technical expertise and broaden the company’s offering in areas such as actuated valves, engineered pipe stands and metal fabrications used inside plants.

Margins Improve as Company Reaffirms Guidance Gross margin expanded 50 basis points year over year to 27.2%. Bradbury said the improvement was driven by private label growth, sourcing optimization and disciplined pricing and purchasing execution. Adjusted EBITDA margin rose 10 basis points to 11.8%.

Bradbury said overall pricing was stable during the quarter, with increases across most product categories offset by a year-over-year headwind from PVC. She said PVC pricing remains below prior-year levels but has stabilized sequentially, and supplier price increases could become a modest tailwind later in the year. In the Q&A session, she said the company has begun passing through some PVC increases in bidding and quoting activity, with most of the impact expected in the third quarter.

SG&A expenses increased 2% to $299 million, driven by strategic growth investments, acquisition-related costs and inflation. Bradbury said that excluding the impact of investments and M&A, SG&A declined modestly year over year, reflecting cost management.

Core & Main reaffirmed its fiscal 2026 guidance, including:

Net sales of $7.8 billion to $7.9 billion; Adjusted EBITDA of $950 million to $980 million; Operating cash flow conversion of 60% to 70% of adjusted EBITDA. Bradbury said the company continues to expect overall end-market volumes to be roughly flat for the year, with municipal strength offset by a cautious outlook in private construction. She said the company expects slight growth in the second quarter and low- to mid-single-digit growth in the third and fourth quarters as comparisons ease and backlog activity releases.

Cash Flow, Buybacks and Expansion Remain Priorities Core & Main ended the quarter with net debt of $2 billion and net debt leverage of 2.2 times, within its target range. Liquidity was nearly $1.4 billion, including $150 million in cash. Operating cash flow was $82 million, up $5 million from the prior-year quarter.

The company repurchased $88 million of stock during the first quarter, reducing share count by about 1.8 million shares. Including post-quarter repurchases, Core & Main had bought back 2.5 million shares in fiscal 2026, representing about 80% of its total buybacks for all of fiscal 2025.

Witkowski said the company opened five greenfield locations during the quarter and remains on track to open a record eight to 10 locations in fiscal 2026. He also said the acquisition pipeline has become more active after a period of lower deal activity, with opportunities ranging from small tuck-ins to larger transactions and deals aligned with municipal and treatment plant capabilities.

“While we do not expect near-term tailwinds in residential, we see plenty of opportunities to capture growth within our municipal and non-residential end markets,” Witkowski said in closing remarks. He added that the long-term fundamentals of aging infrastructure, population growth and reliable water systems remain intact.

About Core & Main NYSE: CNMCore & Main, Inc NYSE: CNM is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company's product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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