Envestnet Asset Management Inc. Grows Position in Builders FirstSource, Inc. (NYSE:BLDR)

Envestnet Asset Management Inc. lifted its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 28.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 307,349 shares of the company's stock after acquiring an additional 68,449 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.27% of Builders FirstSource worth $38,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BLDR. FMR LLC increased its holdings in Builders FirstSource by 7.3% in the 4th quarter. FMR LLC now owns 10,898,366 shares of the company's stock worth $1,557,703,000 after buying an additional 740,214 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Builders FirstSource by 1.2% during the 4th quarter. Invesco Ltd. now owns 2,253,588 shares of the company's stock worth $322,105,000 after acquiring an additional 26,314 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Builders FirstSource by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,237,996 shares of the company's stock worth $319,898,000 after acquiring an additional 77,666 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Builders FirstSource by 8.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,578,655 shares of the company's stock worth $225,637,000 after acquiring an additional 120,400 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Builders FirstSource by 174.2% during the 4th quarter. Voya Investment Management LLC now owns 1,416,280 shares of the company's stock valued at $202,374,000 after purchasing an additional 899,841 shares during the last quarter. Institutional investors own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

BLDR has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price target on Builders FirstSource from $125.00 to $118.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Robert W. Baird set a $130.00 price target on Builders FirstSource in a research note on Friday, May 2nd. BMO Capital Markets reduced their price objective on Builders FirstSource from $146.00 to $135.00 and set a "market perform" rating for the company in a research note on Monday, May 5th. Wedbush reduced their price objective on Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, June 20th. Finally, UBS Group dropped their target price on Builders FirstSource from $180.00 to $163.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.42.

Insider Activity at Builders FirstSource

In related news, Director Dirkson R. Charles bought 5,000 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were purchased at an average price of $109.67 per share, for a total transaction of $548,350.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company's stock, valued at approximately $548,350. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Paul S. Levy purchased 283,517 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were acquired at an average cost of $111.21 per share, with a total value of $31,529,925.57. Following the purchase, the director directly owned 1,672,687 shares of the company's stock, valued at approximately $186,019,521.27. The trade was a 20.41% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 505,000 shares of company stock valued at $56,032,120. 2.00% of the stock is currently owned by insiders.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock opened at $133.39 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.82 and a quick ratio of 1.07. The firm has a market cap of $14.74 billion, a P/E ratio of 17.10, a P/E/G ratio of 8.70 and a beta of 1.69. The firm has a 50 day simple moving average of $115.73 and a 200 day simple moving average of $130.44. Builders FirstSource, Inc. has a fifty-two week low of $102.60 and a fifty-two week high of $203.14.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.01. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. Builders FirstSource had a net margin of 5.66% and a return on equity of 28.02%. The firm's revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.65 EPS. Sell-side analysts predict that Builders FirstSource, Inc. will post 11.59 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

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.

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