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

PNC Financial Services Group Inc. lifted its position 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 & Exchange Commission. The institutional investor owned 9,437 shares of the company’s stock after buying an additional 3,870 shares during the period. PNC Financial Services Group Inc.’s holdings in Builders FirstSource were worth $1,829,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in shares of Builders FirstSource by 32.0% during the first quarter. Advisors Asset Management Inc. now owns 2,046 shares of the company’s stock worth $427,000 after purchasing an additional 496 shares during the period. Mount Yale Investment Advisors LLC bought a new position in Builders FirstSource in the first quarter valued at approximately $229,000. Janus Henderson Group PLC increased 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 in the last quarter. California State Teachers Retirement System raised its holdings in shares of Builders FirstSource by 1.1% during 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 1st quarter valued at $1,014,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group started coverage on Builders FirstSource in a report on Friday, October 25th. They set a “buy” rating and a $232.00 target price for the company. Barclays lifted their target price on Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Stephens upped their price target on Builders FirstSource from $178.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and lifted their price objective for the company from $165.00 to $220.00 in a report on Monday, September 16th. Finally, Stifel Nicolaus cut their price objective on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. 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 company’s stock. Based on data from MarketBeat, Builders FirstSource presently has an average rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Trading Down 1.7 %

Shares of BLDR stock opened at $185.77 on Wednesday. Builders FirstSource, Inc. has a 12-month low of $130.75 and a 12-month high of $214.70. The company has a market capitalization of $21.38 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.00 and a beta of 2.08. The firm has a 50 day moving average price of $186.26 and a two-hundred day moving average price of $168.02. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83.

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

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

Insider Buying and Selling at Builders FirstSource

In related news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the sale, the director now owns 33,083 shares in the company, valued at approximately $5,902,338.03. This trade represents a 23.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.

About Builders FirstSource

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.