SVB Wealth LLC Sells 37,318 Shares of Trex Company, Inc. (NYSE:TREX)

SVB Wealth LLC lowered its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 27.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,404 shares of the construction company's stock after selling 37,318 shares during the period. SVB Wealth LLC owned approximately 0.09% of Trex worth $8,147,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TREX. Redwood Investments LLC purchased a new stake in shares of Trex during the fourth quarter valued at approximately $2,271,000. WCM Investment Management LLC grew its holdings in Trex by 9.4% during the 4th quarter. WCM Investment Management LLC now owns 251,159 shares of the construction company's stock valued at $21,027,000 after purchasing an additional 21,486 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Trex during the 3rd quarter worth $4,053,000. Quantbot Technologies LP increased its stake in Trex by 81.8% during the 3rd quarter. Quantbot Technologies LP now owns 63,876 shares of the construction company's stock worth $3,937,000 after buying an additional 28,746 shares during the period. Finally, Malaga Cove Capital LLC lifted its holdings in Trex by 11.4% in the 3rd quarter. Malaga Cove Capital LLC now owns 15,240 shares of the construction company's stock worth $939,000 after buying an additional 1,559 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

Trex Stock Down 1.4 %

TREX stock traded down $1.22 during mid-day trading on Wednesday, reaching $87.76. The company had a trading volume of 580,056 shares, compared to its average volume of 797,218. Trex Company, Inc. has a one year low of $51.03 and a one year high of $101.91. The stock has a market capitalization of $9.53 billion, a P/E ratio of 46.43, a P/E/G ratio of 2.08 and a beta of 1.60. The stock's 50-day simple moving average is $94.30 and its two-hundred day simple moving average is $79.26.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The construction company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. Trex had a net margin of 18.76% and a return on equity of 31.26%. The firm had revenue of $195.75 million for the quarter, compared to the consensus estimate of $193.40 million. During the same period last year, the firm posted $0.23 EPS. Trex's quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts forecast that Trex Company, Inc. will post 2.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Trex from $79.00 to $93.00 and gave the company a "neutral" rating in a research note on Friday, March 1st. Truist Financial lifted their price objective on Trex from $70.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, February 27th. Stifel Nicolaus increased their target price on Trex from $90.00 to $107.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. The Goldman Sachs Group lifted their price target on shares of Trex from $89.00 to $108.00 and gave the stock a "buy" rating in a research note on Wednesday, February 28th. Finally, Barclays increased their price objective on shares of Trex from $86.00 to $93.00 and gave the company an "underweight" rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $88.72.

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.