Pacer Advisors Inc. Has $397.63 Million Stock Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Pacer Advisors Inc. cut its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 19.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,051,107 shares of the company’s stock after selling 481,853 shares during the quarter. Builders FirstSource comprises approximately 0.8% of Pacer Advisors Inc.’s holdings, making the stock its 26th largest position. Pacer Advisors Inc. owned about 1.78% of Builders FirstSource worth $397,628,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its stake in shares of Builders FirstSource by 23.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,458,255 shares of the company’s stock worth $282,697,000 after buying an additional 277,897 shares during the last quarter. Integrated Investment Consultants LLC acquired a new position in Builders FirstSource during the 3rd quarter valued at $2,897,000. Landscape Capital Management L.L.C. acquired a new position in Builders FirstSource during the 3rd quarter valued at $810,000. King Luther Capital Management Corp raised its stake in Builders FirstSource by 1.3% during the 3rd quarter. King Luther Capital Management Corp now owns 11,416 shares of the company’s stock valued at $2,213,000 after purchasing an additional 149 shares during the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new position in Builders FirstSource during the 3rd quarter valued at $219,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BLDR. Loop Capital raised their price objective on shares of Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and increased their target price for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. B. Riley lowered their price objective 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. Stephens raised their price objective 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. Finally, Stifel Nicolaus lowered their price target on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $206.47.

Builders FirstSource Price Performance

Shares of Builders FirstSource stock opened at $174.95 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16. Builders FirstSource, Inc. has a one year low of $130.75 and a one year high of $214.70. The stock has a market capitalization of $20.13 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 1.00 and a beta of 2.08. The business’s 50 day simple moving average is $186.33 and its two-hundred day simple moving average is $167.92.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.02). The company had revenue of $4.23 billion during 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 company’s revenue was down 6.7% compared to the same quarter last year. During the same period last year, the firm posted $4.24 earnings per share. Analysts forecast that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

Builders FirstSource declared that its board has initiated a share buyback plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 5.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.