Pictet Asset Management Holding SA Buys 500,491 Shares of Builders FirstSource, Inc. $BLDR

Key Points

• Pictet Asset Management boosted its stake in Builders FirstSource by 173.3% in Q4, acquiring an additional 500,491 shares to own 789,345 shares (0.71% of the company) valued at $81.2 million.
• Builders FirstSource missed quarterly expectations with $1.12 EPS vs. $1.30 expected and revenue of $3.36B (vs. $3.46B est.), down 12.1% year-over-year, and several analysts have cut price targets leaving an average rating of Hold (avg target $117.62).
• Director Paul S. Levy bought 50,000 shares at about $87.73, while the stock trades near $88—below its 200-day moving average—with a market cap of $9.74 billion and a PE of 22.7.

Pictet Asset Management Holding SA boosted its stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 173.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 789,345 shares of the company's stock after acquiring an additional 500,491 shares during the quarter. Pictet Asset Management Holding SA owned 0.71% of Builders FirstSource worth $81,216,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BLDR. Cromwell Holdings LLC lifted its position in Builders FirstSource by 1,323.5% in the 4th quarter. Cromwell Holdings LLC now owns 242 shares of the company's stock valued at $25,000 after acquiring an additional 225 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Builders FirstSource by 167.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company's stock valued at $26,000 after acquiring an additional 132 shares in the last quarter. TD Waterhouse Canada Inc. bought a new stake in Builders FirstSource in the 3rd quarter valued at $34,000. CYBER HORNET ETFs LLC bought a new stake in Builders FirstSource in the 2nd quarter valued at $38,000. Finally, MUFG Securities EMEA plc bought a new stake in Builders FirstSource in the 2nd quarter valued at $38,000. 95.53% of the stock is owned by institutional investors.

Builders FirstSource Trading Down 2.0%

Shares of NYSE:BLDR opened at $88.09 on Wednesday. The company's 50-day moving average price is $90.48 and its two-hundred day moving average price is $105.38. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.86 and a quick ratio of 1.16. Builders FirstSource, Inc. has a one year low of $76.50 and a one year high of $151.03. The stock has a market capitalization of $9.74 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 2.71 and a beta of 1.63.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.18). Builders FirstSource had a return on equity of 17.89% and a net margin of 2.87%.The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period last year, the firm earned $2.31 earnings per share. The company's quarterly revenue was down 12.1% compared to the same quarter last year. On average, equities analysts forecast that Builders FirstSource, Inc. will post 5.58 EPS for the current fiscal year.

Analysts Set New Price Targets

BLDR has been the topic of several research reports. Robert W. Baird cut their price objective on shares of Builders FirstSource from $135.00 to $125.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 18th. Barclays cut their price objective on shares of Builders FirstSource from $124.00 to $114.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 8th. Zacks Research raised shares of Builders FirstSource from a "strong sell" rating to a "hold" rating in a research report on Friday, March 20th. The Goldman Sachs Group cut their price objective on shares of Builders FirstSource from $142.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, April 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Builders FirstSource from $117.00 to $102.00 and set a "hold" rating on the stock in a research report on Monday, February 23rd. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $117.62.

Insider Buying and Selling

In other Builders FirstSource news, Director Paul S. Levy purchased 50,000 shares of the business's stock in a transaction on Friday, March 13th. The shares were purchased at an average cost of $87.73 per share, with a total value of $4,386,500.00. Following the transaction, the director directly owned 1,727,191 shares of the company's stock, valued at $151,526,466.43. This represents a 2.98% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is owned by company insiders.

About Builders FirstSource

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company's core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.

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