Envestnet Asset Management Inc. Grows Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Envestnet Asset Management Inc. grew its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 9.5% in the second quarter, Holdings Channel reports. The firm owned 146,248 shares of the company’s stock after acquiring an additional 12,693 shares during the period. Envestnet Asset Management Inc.’s holdings in Builders FirstSource were worth $20,242,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wealthspire Advisors LLC lifted its holdings in Builders FirstSource by 4.6% during the 2nd quarter. Wealthspire Advisors LLC now owns 2,031 shares of the company’s stock valued at $281,000 after buying an additional 90 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Builders FirstSource by 1.2% during the second quarter. William Blair Investment Management LLC now owns 1,051,461 shares of the company’s stock valued at $145,533,000 after acquiring an additional 12,518 shares in the last quarter. Thoroughbred Financial Services LLC raised its stake in shares of Builders FirstSource by 33.6% during the second quarter. Thoroughbred Financial Services LLC now owns 28,154 shares of the company’s stock valued at $3,896,000 after acquiring an additional 7,085 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Builders FirstSource by 21.2% in the second quarter. Federated Hermes Inc. now owns 79,894 shares of the company’s stock valued at $11,058,000 after purchasing an additional 14,001 shares during the period. Finally, Oppenheimer & Co. Inc. grew its stake in Builders FirstSource by 22.2% in the second quarter. Oppenheimer & Co. Inc. now owns 26,482 shares of the company’s stock worth $3,665,000 after purchasing an additional 4,814 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BLDR. Wedbush reaffirmed an “outperform” rating and set a $175.00 target price on shares of Builders FirstSource in a research report on Tuesday, August 6th. Bank of America lifted their price objective on Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday. B. Riley dropped their target price on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada cut 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. Finally, Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.00.

Builders FirstSource Stock Performance

Shares of BLDR stock opened at $197.74 on Monday. Builders FirstSource, Inc. has a 12-month low of $105.24 and a 12-month high of $214.70. The business’s fifty day simple moving average is $167.76 and its 200-day simple moving average is $170.66. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. The company has a market cap of $24.14 billion, a PE ratio of 16.93, a PEG ratio of 10.06 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last issued its 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 firm had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.89 earnings per share. Analysts expect that Builders FirstSource, Inc. will post 11.65 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has authorized a share repurchase program on Tuesday, August 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Builders FirstSource

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

Builders FirstSource 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.