Builders FirstSource, Inc. (NYSE:BLDR) Shares Bought by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. increased its stake in Builders FirstSource by 42.8%, now holding a total of 12,619 shares valued at approximately $1.58 million.
• A range of institutional investors, including Aptus Capital Advisors and Baird Financial Group, have also boosted their positions in Builders FirstSource during recent quarters, indicating strong institutional confidence in the company.
• Builders FirstSource announced a share repurchase plan authorizing up to $500 million in stock buybacks, reflecting the board's belief that the shares are currently undervalued.

PNC Financial Services Group Inc. lifted its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 42.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,619 shares of the company's stock after buying an additional 3,780 shares during the period. PNC Financial Services Group Inc.'s holdings in Builders FirstSource were worth $1,577,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IMA Advisory Services Inc. acquired a new stake in shares of Builders FirstSource during the first quarter valued at about $31,000. Sentry Investment Management LLC acquired a new stake in Builders FirstSource during the 1st quarter worth approximately $40,000. CX Institutional acquired a new stake in Builders FirstSource during the 1st quarter worth approximately $45,000. Mather Group LLC. lifted its holdings in Builders FirstSource by 19.7% during the 1st quarter. Mather Group LLC. now owns 595 shares of the company's stock worth $74,000 after buying an additional 98 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Builders FirstSource during the 1st quarter worth approximately $95,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Dirkson R. Charles bought 5,000 shares of Builders FirstSource stock in a transaction dated Tuesday, May 27th. The stock was bought at an average price of $109.67 per share, for a total transaction of $548,350.00. Following the purchase, the director owned 5,000 shares of the company's stock, valued at approximately $548,350. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. BMO Capital Markets reduced their target price on shares of Builders FirstSource from $146.00 to $135.00 and set a "market perform" rating on the stock in a report on Monday, May 5th. Baird R W lowered shares of Builders FirstSource from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Stephens reduced their target price on shares of Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Wall Street Zen cut shares of Builders FirstSource from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Robert W. Baird cut shares of Builders FirstSource from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $145.00 to $130.00 in a report on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $154.44.

Builders FirstSource Stock Performance

NYSE:BLDR traded down $6.96 during trading hours on Thursday, reaching $137.44. 1,212,612 shares of the company's stock were exchanged, compared to its average volume of 1,970,070. The firm has a market capitalization of $15.19 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 14.56 and a beta of 1.68. The company has a 50-day moving average of $124.40 and a 200 day moving average of $127.37. The company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 1.12. Builders FirstSource, Inc. has a 1-year low of $102.60 and a 1-year high of $203.14.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.35 by $0.03. The firm had revenue of $4.23 billion during 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%. Builders FirstSource's quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.50 EPS. Research analysts anticipate that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

Builders FirstSource announced that its board has approved a stock buyback program on Thursday, May 1st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board 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.