09:31 AM EDT, 06/12/2024 (MT Newswires) -- Core & Main ( CNM ) said Wednesday that its board has authorized the repurchase of up to $500 million of the company's outstanding class A shares.

The company said it expects to pay for the buybacks using existing cash and cash equivalents, short-term borrowings, and/or future cash flows.

Shares of Core & Main ( CNM ) were up 5.2% in early trading.

Price: 49.30, Change: +2.11, Percent Change: +5.21