613,087 Builders FirstSource, Inc. $BLDR Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 16.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,414,163 shares of the company’s stock after acquiring an additional 613,087 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Builders FirstSource were worth $251,651,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Builders FirstSource in the 2nd quarter worth about $700,934,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Builders FirstSource during the second quarter valued at about $134,908,000. Daily Journal Corp acquired a new stake in shares of Builders FirstSource during the third quarter valued at about $80,555,000. Bank of America Corp DE acquired a new stake in shares of Builders FirstSource during the second quarter valued at about $83,832,000. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Builders FirstSource during the third quarter worth about $48,738,000. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Stock Down 4.7%

Shares of NYSE:BLDR opened at $62.42 on Friday. The firm has a market cap of $6.72 billion, a P/E ratio of 168.72, a P/E/G ratio of 1.74 and a beta of 1.41. The company has a quick ratio of 1.14, a current ratio of 1.85 and a debt-to-equity ratio of 1.13. Builders FirstSource, Inc. has a 12-month low of $49.67 and a 12-month high of $131.50. The business has a fifty day simple moving average of $58.94 and a 200 day simple moving average of $79.21.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.45. Builders FirstSource had a return on equity of 10.77% and a net margin of 0.28%. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the company posted $1.88 EPS. The business’s revenue was down 2.2% on a year-over-year basis. Analysts predict that Builders FirstSource, Inc. will post 3.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BLDR. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Builders FirstSource in a research note on Friday, October 30th. Citizens Jmp initiated coverage on shares of Builders FirstSource in a report on Friday, August 21st. They issued a “market perform” rating for the company. Royal Bank Of Canada cut their target price on shares of Builders FirstSource from $62.00 to $56.00 and set a “sector perform” rating on the stock in a research report on Friday, October 30th. Truist Financial boosted their target price on shares of Builders FirstSource from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Finally, Zacks Research upgraded shares of Builders FirstSource from a “strong sell” rating to a “hold” rating in a research report on Friday, October 2nd. Seven investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $75.55.

Builders FirstSource Profile

Builders FirstSource, Inc is a supplier of building materials, manufactured components and construction services for professional homebuilders, remodelers and other construction customers in the United States. The company provides products used throughout the residential construction process, from structural framing to interior and exterior finishes.

Its offerings include lumber and engineered wood products, roof and floor trusses, wall panels, prefabricated components, windows, doors, millwork, cabinets, roofing, siding, insulation, gypsum and related hardware.