First Trust Direct Indexing L.P. Has $1.14 Million Stake in Builders FirstSource, Inc. (NYSE:BLDR)

First Trust Direct Indexing L.P. increased its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 75.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,861 shares of the company’s stock after acquiring an additional 2,525 shares during the period. First Trust Direct Indexing L.P.’s holdings in Builders FirstSource were worth $1,136,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Trajan Wealth LLC raised its holdings in shares of Builders FirstSource by 5.6% during the third quarter. Trajan Wealth LLC now owns 1,608 shares of the company’s stock worth $312,000 after acquiring an additional 85 shares during the period. Avitas Wealth Management LLC raised its holdings in shares of Builders FirstSource by 16.9% during the third quarter. Avitas Wealth Management LLC now owns 2,641 shares of the company’s stock worth $512,000 after acquiring an additional 381 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Builders FirstSource during the third quarter worth $569,000. Diversify Advisory Services LLC acquired a new stake in shares of Builders FirstSource during the third quarter worth $240,000. Finally, abrdn plc raised its holdings in shares of Builders FirstSource by 3.8% during the third quarter. abrdn plc now owns 38,203 shares of the company’s stock worth $7,404,000 after acquiring an additional 1,398 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Barclays raised their price objective on shares of Builders FirstSource from $182.00 to $211.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Jefferies Financial Group lifted their price target on shares of Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus lowered their price target on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada lowered their price target on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group initiated coverage on shares of Builders FirstSource in a research note on Thursday, October 10th. They issued a “buy” rating and a $225.00 price target on the stock. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.35.

Builders FirstSource Stock Performance

Shares of BLDR stock opened at $171.40 on Friday. The company has a market capitalization of $19.96 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 11.48 and a beta of 2.06. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The company has a 50-day simple moving average of $184.58 and a 200 day simple moving average of $168.66. Builders FirstSource, Inc. has a 52 week low of $107.84 and a 52 week high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.02 by $0.48. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. Builders FirstSource’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.89 EPS. On average, sell-side analysts predict that Builders FirstSource, Inc. will post 11.68 earnings per share for the current year.

Builders FirstSource announced that its board has initiated 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 generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the sale, the director now owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

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.