Envestnet Portfolio Solutions Inc. Buys 2,165 Shares of Trex Company, Inc. (NYSE:TREX)

Envestnet Portfolio Solutions Inc. increased its stake in shares of Trex Company, Inc. (NYSE:TREX) by 12.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,828 shares of the construction company’s stock after purchasing an additional 2,165 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Trex were worth $1,369,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TREX. Wilmington Savings Fund Society FSB purchased a new stake in shares of Trex in the third quarter valued at $30,000. Mather Group LLC. raised its position in Trex by 73.5% in the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after purchasing an additional 191 shares during the period. Avior Wealth Management LLC lifted its stake in Trex by 1,212.8% in the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after purchasing an additional 473 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Trex during the fourth quarter valued at approximately $41,000. Finally, V Square Quantitative Management LLC grew its stake in shares of Trex by 47.4% during the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock valued at $43,000 after buying an additional 202 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on TREX. Citigroup dropped their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Benchmark reissued a “buy” rating and set a $80.00 target price on shares of Trex in a research note on Monday, March 3rd. Jefferies Financial Group reduced their price target on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research note on Tuesday, February 25th. UBS Group lowered their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Finally, Truist Financial reduced their target price on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $78.63.

Insider Buying and Selling

In related news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the sale, the director now directly owns 1,705 shares in the company, valued at $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is owned by company insiders.

Trex Stock Performance

Shares of Trex stock opened at $59.54 on Friday. The company has a market capitalization of $6.38 billion, a PE ratio of 27.19, a P/E/G ratio of 2.51 and a beta of 1.60. The company has a 50-day simple moving average of $65.48 and a two-hundred day simple moving average of $67.95. Trex Company, Inc. has a one year low of $52.75 and a one year high of $100.77.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. On average, equities analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Trex Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.