Fmr LLC Purchases 3,186,876 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Fmr LLC boosted its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 45.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,158,152 shares of the company’s stock after acquiring an additional 3,186,876 shares during the period. Fmr LLC owned approximately 8.83% of Builders FirstSource worth $1,969,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLDR. Cyndeo Wealth Partners LLC increased its holdings in Builders FirstSource by 3.7% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 1,571 shares of the company’s stock worth $305,000 after purchasing an additional 56 shares in the last quarter. World Equity Group Inc. raised its position in Builders FirstSource by 4.1% in the 3rd quarter. World Equity Group Inc. now owns 1,632 shares of the company’s stock valued at $316,000 after buying an additional 64 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Builders FirstSource by 0.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,240 shares of the company’s stock valued at $1,417,000 after acquiring an additional 74 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after acquiring an additional 75 shares during the last quarter. Finally, Csenge Advisory Group grew its stake in shares of Builders FirstSource by 1.9% during the 2nd quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after acquiring an additional 81 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Builders FirstSource Stock Performance

Shares of NYSE BLDR opened at $185.77 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16. The firm has a market cap of $21.38 billion, a price-to-earnings ratio of 18.14, a P/E/G ratio of 1.00 and a beta of 2.08. The stock’s fifty day moving average price is $186.26 and its two-hundred day moving average price is $168.02. Builders FirstSource, Inc. has a one year low of $130.75 and a one year high of $214.70.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The business 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%. Builders FirstSource’s revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $4.24 earnings per share. On average, equities analysts forecast that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

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

Insider Activity

In related news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stephens raised their target price on shares of Builders FirstSource from $178.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Barclays upped their price objective on Builders FirstSource from $182.00 to $211.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and boosted their target price for the stock from $165.00 to $220.00 in a report on Monday, September 16th. Royal Bank of Canada increased their price target on shares of Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, Oppenheimer restated an “outperform” rating and set a $225.00 price objective on shares of Builders FirstSource in a research note on Tuesday, October 29th. 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. According to MarketBeat, Builders FirstSource presently has a consensus rating of “Moderate Buy” and an average target price of $206.47.

Builders FirstSource Company 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.