Plato Investment Management Ltd Reduces Position in Builders FirstSource, Inc. (NYSE:BLDR)

Plato Investment Management Ltd reduced its position in Builders FirstSource, Inc. (NYSE:BLDR) by 95.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176 shares of the company’s stock after selling 3,877 shares during the quarter. Plato Investment Management Ltd’s holdings in Builders FirstSource were worth $34,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Cyndeo Wealth Partners LLC grew its holdings in shares of Builders FirstSource by 3.7% in the third quarter. Cyndeo Wealth Partners LLC now owns 1,571 shares of the company’s stock worth $305,000 after purchasing an additional 56 shares during the last quarter. World Equity Group Inc. increased its position in shares of Builders FirstSource by 4.1% during the third quarter. World Equity Group Inc. now owns 1,632 shares of the company’s stock worth $316,000 after acquiring an additional 64 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Builders FirstSource by 0.7% during the second 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 holdings in shares of Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after purchasing an additional 75 shares during the period. Finally, Csenge Advisory Group grew its stake in Builders FirstSource by 1.9% in the second quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BLDR. B. Riley dropped their target price on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. StockNews.com lowered shares of Builders FirstSource from a “buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird upped their target price on Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. UBS Group initiated coverage on Builders FirstSource in a research report on Friday, October 25th. They set a “buy” rating and a $232.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $206.47.

Builders FirstSource Stock Down 2.7 %

Builders FirstSource stock opened at $176.28 on Friday. The stock has a market cap of $20.29 billion, a PE ratio of 17.21, a P/E/G ratio of 1.00 and a beta of 2.08. Builders FirstSource, Inc. has a 1-year low of $129.80 and a 1-year high of $214.70. The stock’s fifty day moving average is $185.83 and its two-hundred day moving average is $168.28. 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 (NYSE:BLDR) last posted its quarterly 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 business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $4.24 earnings per share. On average, sell-side analysts expect that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at Builders FirstSource

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction on 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 sale, the director now owns 33,083 shares in the company, valued at approximately $5,902,338.03. This represents a 23.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

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.