Carret Asset Management LLC Makes New Investment in Builders FirstSource, Inc. $BLDR

Key Points

• Carret Asset Management opened a new position in Builders FirstSource during the third quarter, buying 27,355 shares valued at approximately $1.56 million. Institutional investors collectively own 95.53% of the company’s stock.
• Builders FirstSource reported quarterly EPS of $1.51, beating the $1.06 consensus estimate, and revenue of $3.85 billion, above forecasts; revenue was down 2.2% year over year.
• Analyst sentiment was mixed: the consensus rating was Hold, with a consensus price target of $75.55. Shares opened at $62.42 in the article’s reported session.

Carret Asset Management LLC purchased a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,355 shares of the company's stock, valued at approximately $1,560,000.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Builders FirstSource during the 2nd quarter worth $700,934,000. Pictet Asset Management Holding SA increased its holdings in Builders FirstSource by 16.1% in the 3rd quarter. Pictet Asset Management Holding SA now owns 4,414,163 shares of the company's stock worth $251,651,000 after purchasing an additional 613,087 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Builders FirstSource by 12.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,967,744 shares of the company's stock valued at $244,301,000 after purchasing an additional 325,935 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Builders FirstSource in the second quarter valued at about $134,908,000. Finally, Bank of America Corp DE bought a new position in Builders FirstSource in the second quarter valued at about $83,832,000. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock opened at $62.42 on Monday. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 168.72, a P/E/G ratio of 1.74 and a beta of 1.41. Builders FirstSource, Inc. has a twelve month low of $49.67 and a twelve month high of $131.50. The company's fifty day moving average is $58.94 and its 200 day moving average is $79.21. The company has a quick ratio of 1.14, a current ratio of 1.85 and a debt-to-equity ratio of 1.13.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.45. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.75 billion. Builders FirstSource had a return on equity of 10.77% and a net margin of 0.28%. Builders FirstSource's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $1.88 EPS. Sell-side analysts forecast that Builders FirstSource, Inc. will post 3.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BLDR shares. Melius Research assumed coverage on Builders FirstSource in a research note on Tuesday, October 6th. They set a "sell" rating and a $52.00 price target on the stock. DA Davidson set a $68.00 price objective on Builders FirstSource in a research note on Friday, July 31st. Royal Bank Of Canada dropped their price objective on shares of Builders FirstSource from $62.00 to $56.00 and set a "sector perform" rating for the company in a report on Friday, October 30th. Truist Financial raised their price objective on shares of Builders FirstSource from $70.00 to $75.00 and gave the company a "buy" rating in a report on Friday, October 30th. Finally, Benchmark cut their target price on shares of Builders FirstSource from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Seven investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $75.55.

Builders FirstSource Company Profile

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.