5 Best Water Infrastructure Stocks to Buy as AI Data Centers Strain Resources

4. Core & Main, Inc. (NYSE:CNM)

Number of Hedge Fund Holders: 55

Core & Main, Inc. (NYSE:CNM) is one of the best water infrastructure stocks to buy as AI data centers strain resources. On June 10, 2026, the company reported fiscal first-quarter net sales of $1.91 billion and reaffirmed its full-year fiscal 2026 net sales outlook of $7.8 billion to $7.9 billion. Management said municipal demand remained healthy, supported by repair-and-replace activity and infrastructure investment, while treatment plant solutions grew at a double-digit rate and smart utility products posted high-single-digit growth.

The update is relevant to the AI data center theme because Core & Main sits in the distribution layer of water infrastructure. During the same earnings call, management said the company continued to see strong sales volumes in data center construction. Those projects require water, wastewater, storm drainage, meter, fire protection, pipe, valve, fitting, and treatment plant products before campuses can scale. Core & Main’s role as a specialty distributor also gives it exposure to fragmented local infrastructure work, where utilities and contractors need supply-chain depth, branch coverage, and product expertise to support both aging systems and new load from large industrial projects.

Core & Main, Inc. (NYSE:CNM) distributes water, wastewater, storm drainage, fire protection, meter, treatment plant, and related infrastructure products to municipalities, private water companies, and contractors across municipal, non-residential, and residential markets.