PNC Financial Services Group Inc. Purchases 3,870 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

PNC Financial Services Group Inc. boosted its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 69.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,437 shares of the company’s stock after buying an additional 3,870 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Builders FirstSource were worth $1,829,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its holdings in Builders FirstSource by 32.0% in the first quarter. Advisors Asset Management Inc. now owns 2,046 shares of the company’s stock valued at $427,000 after purchasing an additional 496 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in shares of Builders FirstSource in the first quarter valued at about $229,000. Janus Henderson Group PLC raised its position in shares of Builders FirstSource by 21.1% during the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock worth $4,173,000 after acquiring an additional 3,483 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Builders FirstSource by 1.1% in the first quarter. California State Teachers Retirement System now owns 208,130 shares of the company’s stock worth $43,406,000 after acquiring an additional 2,259 shares during the period. Finally, LBP AM SA bought a new stake in Builders FirstSource in the first quarter valued at approximately $1,014,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Builders FirstSource Price Performance

BLDR opened at $185.77 on Wednesday. Builders FirstSource, Inc. has a fifty-two week low of $130.75 and a fifty-two week high of $214.70. The firm has a 50-day moving average of $186.26 and a 200 day moving average of $168.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.77. The firm has a market cap of $21.38 billion, a P/E ratio of 18.03, a PEG ratio of 1.00 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the prior year, the company earned $4.24 earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. On average, research analysts expect that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

Builders FirstSource declared that its Board of Directors has approved a stock repurchase plan on Tuesday, August 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLDR. Loop Capital boosted their price target on shares of Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. B. Riley dropped their price objective on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Jefferies Financial Group raised their target price on Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Wedbush reissued an “outperform” rating and issued a $230.00 price target on shares of Builders FirstSource in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $206.47.

Insider Activity

In other news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total value of $1,784,100.00. Following the sale, the director now owns 33,083 shares of the company’s stock, valued at $5,902,338.03. The trade was a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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.