Builders FirstSource, Inc. (NYSE:BLDR) Stock Position Raised by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 118.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,649 shares of the company’s stock after purchasing an additional 22,049 shares during the period. Canada Pension Plan Investment Board’s holdings in Builders FirstSource were worth $5,626,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Builders FirstSource by 15.7% during the fourth quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock valued at $2,448,684,000 after purchasing an additional 1,985,297 shares in the last quarter. Boston Partners grew its holdings in shares of Builders FirstSource by 0.8% during the 1st quarter. Boston Partners now owns 1,377,335 shares of the company’s stock valued at $285,794,000 after acquiring an additional 10,551 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Builders FirstSource by 339.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after acquiring an additional 911,990 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Builders FirstSource by 34.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,133,751 shares of the company’s stock worth $189,268,000 after acquiring an additional 292,966 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Builders FirstSource by 22.7% during the second quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock valued at $147,059,000 after purchasing an additional 196,571 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on BLDR. Oppenheimer raised their price target on Builders FirstSource from $205.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and lifted their target price for the company from $165.00 to $220.00 in a research note on Monday, September 16th. Wedbush restated an “outperform” rating and set a $175.00 price target on shares of Builders FirstSource in a research note on Tuesday, August 6th. Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada lowered their target price on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.00.

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the sale, the director now owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Builders FirstSource Stock Down 0.6 %

BLDR opened at $191.91 on Thursday. The business has a 50 day moving average of $169.83 and a 200-day moving average of $170.70. The stock has a market capitalization of $23.42 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 11.56 and a beta of 2.06. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. Builders FirstSource, Inc. has a 1-year low of $105.24 and a 1-year high of $214.70.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.48. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the business posted $3.89 EPS. As a group, sell-side analysts anticipate that Builders FirstSource, Inc. will post 11.68 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Builders FirstSource Company Profile

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.