Trex Company, Inc. (NYSE:TREX) Position Lessened by SVB Wealth LLC

SVB Wealth LLC lowered its stake in shares of Trex Company, Inc. (NYSE:TREX) by 12.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,860 shares of the construction company’s stock after selling 12,544 shares during the quarter. SVB Wealth LLC owned approximately 0.08% of Trex worth $8,564,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mather Group LLC. acquired a new position in Trex during the 1st quarter worth $26,000. V Square Quantitative Management LLC acquired a new stake in Trex in the fourth quarter worth about $25,000. Sunbelt Securities Inc. grew its position in Trex by 1,744.4% in the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after buying an additional 314 shares in the last quarter. Rise Advisors LLC increased its stake in Trex by 305.0% during the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after buying an additional 305 shares during the period. Finally, Vestor Capital LLC bought a new stake in shares of Trex during the 4th quarter worth about $47,000. 95.96% of the stock is currently owned by institutional investors.

Trex Price Performance

Shares of NYSE TREX traded up $1.09 during trading hours on Monday, hitting $83.59. 893,319 shares of the company’s stock were exchanged, compared to its average volume of 853,806. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 1.97 and a beta of 1.50. The company’s 50-day moving average price is $80.87 and its 200-day moving average price is $87.24. Trex Company, Inc. has a 1-year low of $53.59 and a 1-year high of $101.91.

Trex (NYSE:TREX) last issued its quarterly earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. The firm had revenue of $373.64 million during the quarter, compared to the consensus estimate of $367.31 million. Trex had a net margin of 20.60% and a return on equity of 35.33%. The business’s revenue was up 56.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. On average, research analysts expect that Trex Company, Inc. will post 2.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TREX has been the topic of several research analyst reports. DA Davidson lowered their price target on Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Benchmark reissued a “buy” rating and issued a $105.00 price target on shares of Trex in a report on Tuesday, May 14th. Loop Capital dropped their target price on shares of Trex from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. The Goldman Sachs Group reduced their target price on shares of Trex from $114.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Finally, Citigroup decreased their price target on shares of Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Trex has an average rating of “Hold” and an average target price of $88.76.

Insider Activity

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of Trex stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the sale, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at $2,340,311.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Trex Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.