BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Stock Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in Builders FirstSource, Inc. (NYSE:BLDR) by 12.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,365 shares of the company’s stock after selling 2,991 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Builders FirstSource were worth $3,948,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BLDR. Edgestream Partners L.P. purchased a new position in Builders FirstSource in the third quarter worth $1,140,000. Fred Alger Management LLC purchased a new position in Builders FirstSource during the 3rd quarter worth $51,516,000. Captrust Financial Advisors increased its position in Builders FirstSource by 23.7% during the 3rd quarter. Captrust Financial Advisors now owns 28,682 shares of the company’s stock valued at $5,560,000 after buying an additional 5,489 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in Builders FirstSource in the third quarter valued at about $240,000. Finally, Hantz Financial Services Inc. acquired a new stake in Builders FirstSource in the third quarter worth about $3,538,000. Institutional investors own 95.53% of the company’s stock.

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 transaction, the director now owns 33,083 shares in the company, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by company insiders.

Builders FirstSource Price Performance

NYSE:BLDR opened at $184.47 on Wednesday. The stock has a market capitalization of $21.23 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.03 and a beta of 2.06. Builders FirstSource, Inc. has a 52 week low of $130.75 and a 52 week high of $214.70. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83. The stock’s 50-day moving average price is $184.94 and its 200-day moving average price is $168.74.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 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 business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter last year, the firm earned $4.24 earnings per share. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. As a group, equities analysts expect that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

Builders FirstSource declared that its Board of Directors has authorized a share 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 reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have weighed in on BLDR. Benchmark dropped their target price on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Loop Capital upped their target price on Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Stephens lifted 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. Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective on shares of Builders FirstSource in a report on Tuesday, October 29th. Finally, Royal Bank of Canada raised their price objective on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Five equities 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 stock. According to data from MarketBeat.com, Builders FirstSource has a consensus rating of “Moderate Buy” and an average price target of $206.47.

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.