50,800 Shares in Builders FirstSource, Inc. (NYSE:BLDR) Bought by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC bought a new position in Builders FirstSource, Inc. (NYSE:BLDR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 50,800 shares of the company’s stock, valued at approximately $9,848,000. Builders FirstSource accounts for approximately 0.4% of Icon Wealth Advisors LLC’s holdings, making the stock its 29th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Forsta AP Fonden grew its holdings in Builders FirstSource by 12.1% in the 3rd quarter. Forsta AP Fonden now owns 26,800 shares of the company’s stock worth $5,195,000 after buying an additional 2,900 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Builders FirstSource by 762.2% during the first quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock valued at $10,632,000 after purchasing an additional 45,069 shares during the period. Janus Henderson Group PLC raised its stake in shares of Builders FirstSource by 21.1% during the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock valued at $4,173,000 after purchasing an additional 3,483 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Builders FirstSource by 18.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock worth $16,055,000 after purchasing an additional 18,223 shares during the period. Finally, AMF Tjanstepension AB bought a new position in Builders FirstSource in the 3rd quarter valued at about $1,471,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. B. Riley decreased their price objective on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Wedbush reissued an “outperform” rating and issued a $230.00 price objective on shares of Builders FirstSource in a research note on Wednesday, November 6th. UBS Group initiated coverage on Builders FirstSource in a research note on Friday, October 25th. They set a “buy” rating and a $232.00 target price for the company. Stephens upped their price target on shares of Builders FirstSource from $178.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price objective on shares of Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $206.47.

Builders FirstSource Trading Up 0.6 %

NYSE:BLDR opened at $175.94 on Friday. The stock has a market cap of $20.25 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.00 and a beta of 2.08. Builders FirstSource, Inc. has a fifty-two week low of $130.75 and a fifty-two week high of $214.70. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16. The stock’s 50-day moving average is $186.33 and its two-hundred day moving average is $167.92.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 earnings per share 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 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 quarter in the prior year, the company posted $4.24 EPS. As a group, equities research analysts forecast that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has approved a stock buyback program on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Builders FirstSource

In related news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the transaction, the director now owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. This trade represents a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

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.