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

Pictet Asset Management Holding SA raised its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 74.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,378,332 shares of the company’s stock after buying an additional 588,987 shares during the period. Pictet Asset Management Holding SA’s holdings in Builders FirstSource were worth $113,478,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BLDR. Cromwell Holdings LLC increased its position in Builders FirstSource by 1,323.5% during the 4th quarter. Cromwell Holdings LLC now owns 242 shares of the company’s stock valued at $25,000 after purchasing an additional 225 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake 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 valued at $26,000 after purchasing an additional 132 shares during the last quarter. Transamerica Financial Advisors LLC increased its position in shares of Builders FirstSource by 90.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after buying an additional 175 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in shares of Builders FirstSource during the second quarter worth $38,000. Finally, MUFG Securities EMEA plc bought a new position in Builders FirstSource during the second quarter worth $38,000. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Trading Up 0.2%

NYSE:BLDR opened at $89.32 on Monday. Builders FirstSource, Inc. has a 12 month low of $65.10 and a 12 month 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. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 2.14 and a beta of 1.45. The firm has a fifty day simple moving average of $78.85 and a two-hundred day simple moving average of $95.04.

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

Builders FirstSource declared that its Board of Directors has initiated a share repurchase program on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BLDR shares. Benchmark dropped their target price on shares of Builders FirstSource from $138.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Truist Financial lowered their price objective on Builders FirstSource from $145.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Weiss Ratings downgraded Builders FirstSource from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, June 16th. Wells Fargo & Company cut their target price on Builders FirstSource from $87.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Builders FirstSource from $102.00 to $81.00 and set a “hold” rating for the company in a research note on Monday, May 4th. Nine equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Builders FirstSource has a consensus rating of “Hold” and an average price target of $101.88.

About Builders FirstSource

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.