Venturi Wealth Management LLC Purchases 5,505 Shares of Trex Company, Inc. (NYSE:TREX)

Key Points

• Venturi Wealth Management LLC increased its stake in Trex Company, Inc. by 3,041.4% during the first quarter, raising their holdings to 5,686 shares valued at approximately $330,000.
• Several other institutional investors, including Alliancebernstein L.P. and Price T Rowe Associates Inc. MD, also significantly boosted their positions in Trex, reflecting a growing confidence in the stock.
• Trex reported quarterly earnings of $0.60 per share, exceeding analysts' expectations, although revenues decreased by 9% compared to the previous year.

Venturi Wealth Management LLC increased its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 3,041.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,686 shares of the construction company's stock after acquiring an additional 5,505 shares during the quarter. Venturi Wealth Management LLC's holdings in Trex were worth $330,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Corient Private Wealth LLC increased its holdings in Trex by 8.6% in the 4th quarter. Corient Private Wealth LLC now owns 3,897 shares of the construction company's stock valued at $269,000 after buying an additional 309 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Trex in the fourth quarter valued at about $1,519,000. LPL Financial LLC increased its stake in Trex by 28.4% in the fourth quarter. LPL Financial LLC now owns 127,457 shares of the construction company's stock valued at $8,798,000 after acquiring an additional 28,176 shares during the period. Norges Bank bought a new stake in Trex in the fourth quarter valued at about $54,084,000. Finally, Pictet Asset Management Holding SA increased its stake in Trex by 7.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company's stock valued at $1,004,000 after acquiring an additional 969 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Trex Trading Down 0.5%

Shares of NYSE:TREX traded down $0.33 during midday trading on Tuesday, hitting $67.16. The company had a trading volume of 200,804 shares, compared to its average volume of 1,591,005. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $86.56. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 36.88, a PEG ratio of 2.88 and a beta of 1.50. The firm has a fifty day simple moving average of $58.47 and a 200 day simple moving average of $60.63.

Trex (NYSE:TREX - Get Free Report) last issued its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. Trex had a return on equity of 22.78% and a net margin of 17.69%. The firm had revenue of $339.99 million for the quarter, compared to analysts' expectations of $329.11 million. During the same quarter last year, the business earned $0.82 earnings per share. The company's revenue was down 9.0% compared to the same quarter last year. Equities analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Transactions at Trex

In other news, SVP Amy M. Fernandez sold 2,366 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $61.17, for a total value of $144,728.22. Following the sale, the senior vice president owned 24,569 shares of the company's stock, valued at $1,502,885.73. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jacob T. Rudolph sold 1,500 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the completion of the sale, the senior vice president directly owned 27,527 shares in the company, valued at approximately $1,659,052.29. This represents a 5.17% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.74% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TREX shares. B. Riley upgraded Trex to a "strong-buy" rating in a research note on Monday, July 21st. Stephens lowered their price target on Trex from $73.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Citigroup lowered their price target on Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. BMO Capital Markets upgraded Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price target on the stock in a research report on Thursday, April 17th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Trex in a report on Tuesday, April 1st. They issued a "buy" rating and a $85.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.88.

Trex Company Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.