SVB Wealth LLC Decreases Stock Holdings in Trex Company, Inc. (NYSE:TREX)

SVB Wealth LLC trimmed its position in shares of Trex Company, Inc. (NYSE:TREX) by 27.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 98,404 shares of the construction company’s stock after selling 37,318 shares during the quarter. SVB Wealth LLC owned about 0.09% of Trex worth $8,147,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its position in shares of Trex by 21.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 28,795 shares of the construction company’s stock valued at $1,881,000 after purchasing an additional 5,105 shares during the last quarter. Bank of Montreal Can raised its position in shares of Trex by 38.1% in the 1st quarter. Bank of Montreal Can now owns 18,867 shares of the construction company’s stock valued at $1,353,000 after purchasing an additional 5,210 shares during the last quarter. D.A. Davidson & CO. purchased a new position in shares of Trex in the 1st quarter valued at approximately $204,000. Great West Life Assurance Co. Can raised its position in shares of Trex by 7.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 62,354 shares of the construction company’s stock valued at $4,190,000 after purchasing an additional 4,387 shares during the last quarter. Finally, Raymond James Trust N.A. raised its position in shares of Trex by 23.3% in the 1st quarter. Raymond James Trust N.A. now owns 5,111 shares of the construction company’s stock valued at $334,000 after purchasing an additional 966 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Trex from $79.00 to $93.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. UBS Group increased their price target on shares of Trex from $84.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Robert W. Baird increased their price target on shares of Trex from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Barclays increased their price target on shares of Trex from $86.00 to $93.00 and gave the stock an “underweight” rating in a report on Thursday, April 4th. Finally, Stifel Nicolaus raised their price objective on shares of Trex from $90.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $88.72.

Trex Stock Performance

Shares of TREX stock opened at $88.96 on Wednesday. The stock’s fifty day moving average is $94.35 and its two-hundred day moving average is $79.20. The firm has a market capitalization of $9.66 billion, a P/E ratio of 47.07, a PEG ratio of 2.08 and a beta of 1.60. Trex Company, Inc. has a fifty-two week low of $51.03 and a fifty-two week high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, February 26th. The construction company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. Trex had a return on equity of 31.26% and a net margin of 18.76%. The business had revenue of $195.75 million for the quarter, compared to analyst estimates of $193.40 million. During the same quarter in the previous year, the firm earned $0.23 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that Trex Company, Inc. will post 2.21 earnings per share for the current year.

Trex 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.