Welch Capital Partners LLC NY Buys Shares of 16,301 Builders FirstSource, Inc. $BLDR

Key Points

• Welch Capital Partners initiated a position in Builders FirstSource by purchasing 16,301 shares valued at approximately $1.46 million. Institutional investors collectively own 95.53% of BLDR.
• Builders FirstSource reported weaker quarterly results, with EPS of $1.17 versus the $1.25 consensus estimate and revenue of $3.86 billion, down 8.8% year over year. The stock opened at $70.02, near its 52-week low of $65.10.
• The company authorized a $500 million share-repurchase program, while analysts maintain a consensus “Hold” rating with an average price target of $90.35.

Welch Capital Partners LLC NY bought a new position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,301 shares of the company's stock, valued at approximately $1,459,000. Builders FirstSource makes up approximately 0.3% of Welch Capital Partners LLC NY's investment portfolio, making the stock its 14th biggest position.

Several other hedge funds have also modified their holdings of BLDR. Caitong International Asset Management Co. Ltd grew its position in shares of Builders FirstSource by 167.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company's stock worth $26,000 after buying an additional 132 shares during the last quarter. Sunbelt Securities Inc. lifted its position in Builders FirstSource by 508.5% during the first quarter. Sunbelt Securities Inc. now owns 359 shares of the company's stock valued at $30,000 after acquiring an additional 300 shares during the last quarter. Root Financial Partners LLC lifted its position in Builders FirstSource by 43.6% during the first quarter. Root Financial Partners LLC now owns 372 shares of the company's stock valued at $31,000 after acquiring an additional 113 shares during the last quarter. Transamerica Financial Advisors LLC boosted its stake in Builders FirstSource by 90.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 369 shares of the company's stock valued at $38,000 after acquiring an additional 175 shares in the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new stake in Builders FirstSource in the second quarter valued at approximately $38,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Builders FirstSource Trading Down 0.4%

Builders FirstSource stock opened at $70.02 on Friday. The stock has a 50-day moving average price of $75.97 and a 200 day moving average price of $84.59. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of 76.95, a price-to-earnings-growth ratio of 2.28 and a beta of 1.44. Builders FirstSource, Inc. has a 52 week low of $65.10 and a 52 week high of $151.03. The company has a quick ratio of 1.09, a current ratio of 1.79 and a debt-to-equity ratio of 1.14.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.08). Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%.The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter last year, the company posted $2.38 EPS. Builders FirstSource's quarterly revenue was down 8.8% compared to the same quarter last year. Sell-side analysts anticipate that Builders FirstSource, Inc. will post 3.15 EPS for the current year.

Builders FirstSource announced that its board has authorized a share buyback program on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

BLDR has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on Builders FirstSource from $85.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Friday, July 31st. Jefferies Financial Group lowered their price objective on Builders FirstSource from $85.00 to $80.00 and set a "hold" rating for the company in a research report on Monday, May 4th. KeyCorp lowered their price objective on Builders FirstSource from $100.00 to $91.00 and set an "overweight" rating for the company in a research report on Monday, July 13th. Wolfe Research upgraded Builders FirstSource to a "hold" rating in a research note on Thursday, May 14th. Finally, Oppenheimer reduced their target price on Builders FirstSource from $110.00 to $90.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Builders FirstSource currently has a consensus rating of "Hold" and an average price target of $90.35.

Builders FirstSource Profile

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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