Raymond James Financial Inc. Sells 17,114 Shares of Builders FirstSource, Inc. $BLDR

Key Points

• Raymond James Financial Inc. has reduced its stake in Builders FirstSource, Inc. by 7.1%, owning approximately 0.20% of the company, valued at $28.05 million as of the last quarter.
• Several institutional investors have increased their stakes in Builders FirstSource, with Aberdeen Group boosting their position by 72.7% during the same period.
• An analyst report from Wedbush decreased the target price for Builders FirstSource from $190.00 to $145.00, while maintaining an "outperform" rating on the stock.

Raymond James Financial Inc. reduced its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 224,546 shares of the company's stock after selling 17,114 shares during the quarter. Raymond James Financial Inc. owned 0.20% of Builders FirstSource worth $28,055,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Kovitz Investment Group Partners LLC increased its stake in shares of Builders FirstSource by 957.1% in the first quarter. Kovitz Investment Group Partners LLC now owns 528,984 shares of the company's stock worth $66,091,000 after purchasing an additional 478,942 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Builders FirstSource by 16.8% in the first quarter. Diamond Hill Capital Management Inc. now owns 2,270,362 shares of the company's stock worth $283,659,000 after purchasing an additional 326,923 shares in the last quarter. Coliseum Capital Management LLC bought a new position in shares of Builders FirstSource in the fourth quarter valued at approximately $45,334,000. Nuveen LLC bought a new position in shares of Builders FirstSource in the first quarter valued at approximately $36,339,000. Finally, Invesco Ltd. boosted its position in shares of Builders FirstSource by 11.8% in the first quarter. Invesco Ltd. now owns 2,519,461 shares of the company's stock valued at $314,781,000 after acquiring an additional 265,873 shares during the period. 95.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BLDR has been the subject of a number of analyst reports. Baird R W lowered shares of Builders FirstSource from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Barclays cut their price objective on shares of Builders FirstSource from $137.00 to $135.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Zelman & Associates restated an "underperform" rating on shares of Builders FirstSource in a research report on Friday, July 18th. Stephens cut their price objective on shares of Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Finally, Stifel Nicolaus raised their price objective on shares of Builders FirstSource from $118.00 to $128.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $154.44.

Builders FirstSource Price Performance

NYSE BLDR traded down $2.01 on Friday, reaching $138.13. 715,497 shares of the company's stock traded hands, compared to its average volume of 1,969,939. Builders FirstSource, Inc. has a 12 month low of $102.60 and a 12 month high of $203.14. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.79 and a quick ratio of 1.08. The stock has a 50-day simple moving average of $130.37 and a 200 day simple moving average of $125.42. The stock has a market cap of $15.27 billion, a PE ratio of 20.96, a P/E/G ratio of 15.01 and a beta of 1.68.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $2.35 by $0.03. The business had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $4.29 billion. Builders FirstSource had a net margin of 4.74% and a return on equity of 24.61%. The business's quarterly revenue was down 5.0% on a year-over-year basis. During the same period last year, the business earned $3.50 earnings per share. Builders FirstSource has set its FY 2025 guidance at EPS. As a group, research analysts predict that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

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.