Pictet Asset Management Holding SA Buys 588,987 Shares of Builders FirstSource, Inc. $BLDR

Pictet Asset Management Holding SA increased its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 74.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,378,332 shares of the company’s stock after buying an additional 588,987 shares during the quarter. Pictet Asset Management Holding SA owned about 1.25% of Builders FirstSource worth $113,478,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Lewis Asset Management LLC acquired a new position in Builders FirstSource in the 1st quarter valued at $475,000. Wasatch Advisors LP grew its holdings in shares of Builders FirstSource by 82.4% during the 1st quarter. Wasatch Advisors LP now owns 17,905 shares of the company’s stock worth $1,474,000 after purchasing an additional 8,087 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Builders FirstSource during the 1st quarter worth $461,000. Financial Enhancement Group LLC increased its position in shares of Builders FirstSource by 36.9% in the first quarter. Financial Enhancement Group LLC now owns 7,435 shares of the company’s stock worth $658,000 after purchasing an additional 2,004 shares during the period. Finally, OP Asset Management Ltd bought a new position in shares of Builders FirstSource in the first quarter worth $1,715,000. Institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Stephens reduced their price objective on shares of Builders FirstSource from $125.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, April 27th. Wells Fargo & Company decreased their target price on shares of Builders FirstSource from $87.00 to $85.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Bank of America lowered their price objective on shares of Builders FirstSource from $123.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Truist Financial reduced their target price on Builders FirstSource from $145.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Finally, Oppenheimer set a $121.00 price target on Builders FirstSource in a research note on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $101.88.

Builders FirstSource Trading Up 0.2%

Shares of Builders FirstSource stock opened at $89.32 on Monday. The firm’s 50 day moving average is $78.85 and its 200 day moving average is $95.04. The firm has a market capitalization of $9.61 billion, a PE ratio of 34.22, a price-to-earnings-growth ratio of 2.14 and a beta of 1.45. Builders FirstSource, Inc. has a 1 year low of $65.10 and a 1 year high of $151.03. The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 1.15.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.12). Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.17 billion. During the same period in the previous year, the company earned $1.51 EPS. Builders FirstSource’s revenue for the quarter was down 10.1% on a year-over-year basis. Equities research analysts forecast that Builders FirstSource, Inc. will post 4.26 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has authorized a stock buyback plan on Thursday, April 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Builders FirstSource Company 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.