FX.co ★ Core & Main To Repurchase Up To $500 Mln Of Shares; Stock Up In Pre-Market

Core & Main Inc. (CNM) disclosed on Wednesday that its Board has approved a buyback program for up to $500 million of Class A shares. CEO Steve LeClair stated, "Our anticipation of robust cash flow will enable us to persist in investing in growth—both organic and inorganic—while also returning capital to shareholders to enhance long-term value creation."

In pre-market trading on the New York Stock Exchange, CNM shares were up 3.45%, priced at $48.82.