Raymond James Trust N.A. Buys Shares of 2,374 Builders FirstSource, Inc. (NYSE:BLDR)

Raymond James Trust N.A. purchased a new position in Builders FirstSource, Inc. (NYSE:BLDR) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,374 shares of the company’s stock, valued at approximately $460,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Forsta AP Fonden boosted its holdings in Builders FirstSource by 12.1% in the third quarter. Forsta AP Fonden now owns 26,800 shares of the company’s stock worth $5,195,000 after acquiring an additional 2,900 shares in the last quarter. Cetera Investment Advisers boosted its stake in Builders FirstSource by 762.2% in the 1st quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock worth $10,632,000 after purchasing an additional 45,069 shares in the last quarter. Janus Henderson Group PLC grew its position in Builders FirstSource by 21.1% during the 1st quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock valued at $4,173,000 after purchasing an additional 3,483 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Builders FirstSource by 18.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock valued at $16,055,000 after purchasing an additional 18,223 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Builders FirstSource by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 785,842 shares of the company’s stock worth $152,343,000 after buying an additional 16,000 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BLDR shares. B. Riley reduced their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Loop Capital lifted their target price on Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and increased their price objective for the company from $165.00 to $220.00 in a research report on Monday, September 16th. Royal Bank of Canada boosted their target price on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $230.00 price target on shares of Builders FirstSource in a report on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Price Performance

NYSE BLDR opened at $185.77 on Wednesday. The business’s fifty day moving average is $186.26 and its 200 day moving average is $168.02. Builders FirstSource, Inc. has a fifty-two week low of $130.75 and a fifty-two week high of $214.70. 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 company has a market capitalization of $21.38 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.00 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) 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 quarter last year, the firm posted $4.24 earnings per share. The company’s revenue was down 6.7% compared to the same quarter last year. Sell-side 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 initiated a share repurchase plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Builders FirstSource

In related news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.