PGGM Investments Grows Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

PGGM Investments lifted its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 13.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 55,212 shares of the company’s stock after acquiring an additional 6,406 shares during the quarter. PGGM Investments’ holdings in Builders FirstSource were worth $7,642,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its position in shares of Builders FirstSource by 62.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,460 shares of the company’s stock worth $745,000 after purchasing an additional 1,716 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of Builders FirstSource by 10.4% in the fourth quarter. Bleakley Financial Group LLC now owns 2,135 shares of the company’s stock worth $356,000 after acquiring an additional 201 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Builders FirstSource during the fourth quarter worth $221,000,000. Allspring Global Investments Holdings LLC raised its stake in shares of Builders FirstSource by 53.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 94,505 shares of the company’s stock valued at $15,777,000 after acquiring an additional 32,819 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in Builders FirstSource in the fourth quarter valued at $218,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Stock Performance

Builders FirstSource stock traded up $4.39 during trading hours on Thursday, reaching $164.99. 271,082 shares of the stock were exchanged, compared to its average volume of 1,637,657. Builders FirstSource, Inc. has a 52-week low of $105.24 and a 52-week high of $214.70. The stock has a market cap of $20.14 billion, a P/E ratio of 13.75, a P/E/G ratio of 2.57 and a beta of 2.04. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.45 and a current ratio of 2.21. The firm’s 50 day moving average is $149.89 and its 200 day moving average is $172.88.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a net margin of 8.57% and a return on equity of 38.66%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.89 earnings per share. Analysts predict that Builders FirstSource, Inc. will post 12.91 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has approved a share buyback plan on Tuesday, August 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Builders FirstSource news, insider Paul M. Mccrobie sold 9,118 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $170.11, for a total transaction of $1,551,062.98. Following the sale, the insider now directly owns 22,667 shares in the company, valued at approximately $3,855,883.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul M. Mccrobie sold 9,118 shares of Builders FirstSource stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $170.11, for a total transaction of $1,551,062.98. Following the completion of the sale, the insider now directly owns 22,667 shares in the company, valued at approximately $3,855,883.37. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Hiller sold 4,875 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $159.25, for a total value of $776,343.75. Following the sale, the insider now owns 30,106 shares in the company, valued at $4,794,380.50. The disclosure for this sale can be found here. Insiders sold 43,993 shares of company stock valued at $6,937,807 in the last three months. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Zelman & Associates restated a “hold” rating on shares of Builders FirstSource in a report on Monday, June 17th. Wedbush restated an “outperform” rating and set a $175.00 target price on shares of Builders FirstSource in a research note on Tuesday, August 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $185.00 target price (down previously from $205.00) on shares of Builders FirstSource in a report on Friday, August 9th. Bank of America cut shares of Builders FirstSource from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $183.00 to $180.00 in a report on Friday, August 2nd. Finally, B. Riley reduced their price objective 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. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $180.47.

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.