Envestnet Asset Management Inc. Sells 782,652 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Envestnet Asset Management Inc. trimmed its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 92.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,866 shares of the company’s stock after selling 782,652 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Builders FirstSource were worth $8,414,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Altshuler Shaham Ltd grew its holdings in Builders FirstSource by 5.2% during the 1st quarter. Altshuler Shaham Ltd now owns 1,759 shares of the company’s stock worth $156,000 after acquiring an additional 87 shares during the last quarter. WASHINGTON TRUST Co lifted its position in shares of Builders FirstSource by 3.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 2,716 shares of the company’s stock worth $369,000 after purchasing an additional 92 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of Builders FirstSource by 27.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the company’s stock worth $58,000 after purchasing an additional 92 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of Builders FirstSource by 3.3% in the 2nd quarter. First Trust Direct Indexing L.P. now owns 3,478 shares of the company’s stock worth $473,000 after purchasing an additional 110 shares during the period. Finally, Macquarie Group Ltd. lifted its position in shares of Builders FirstSource by 5.4% in the 1st quarter. Macquarie Group Ltd. now owns 2,269 shares of the company’s stock worth $201,000 after purchasing an additional 116 shares during the period. 94.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BLDR has been the topic of a number of recent analyst reports. Royal Bank of Canada dropped their price target on shares of Builders FirstSource from $188.00 to $152.00 and set an “outperform” rating on the stock in a research report on Thursday, November 2nd. Benchmark boosted their price target on shares of Builders FirstSource from $153.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Barclays dropped their target price on shares of Builders FirstSource from $200.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, October 12th. StockNews.com upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Loop Capital assumed coverage on shares of Builders FirstSource in a research report on Thursday, August 31st. They set a “buy” rating and a $180.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Builders FirstSource has a consensus rating of “Moderate Buy” and an average price target of $140.77.

Builders FirstSource Stock Performance

BLDR opened at $130.35 on Friday. The company has a market cap of $16.08 billion, a price-to-earnings ratio of 11.07 and a beta of 2.04. Builders FirstSource, Inc. has a 1-year low of $59.39 and a 1-year high of $156.85. The company has a current ratio of 1.76, a quick ratio of 1.11 and a debt-to-equity ratio of 0.74. The company’s fifty day moving average price is $121.79 and its two-hundred day moving average price is $128.36.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Wednesday, November 1st. The company reported $4.24 EPS for the quarter, beating the consensus estimate of $4.05 by $0.19. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.88 billion. Builders FirstSource had a net margin of 9.10% and a return on equity of 41.27%. The company’s revenue was down 21.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.20 earnings per share. On average, analysts expect that Builders FirstSource, Inc. will post 13.72 EPS for the current fiscal year.

About Builders FirstSource

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, steel roof trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.