Verition Fund Management LLC Decreases Stock Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Verition Fund Management LLC lowered its stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 23.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 30,662 shares of the company's stock after selling 9,575 shares during the period. Verition Fund Management LLC's holdings in Builders FirstSource were worth $5,944,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Forsta AP Fonden increased its holdings in shares of Builders FirstSource by 12.1% in the 3rd quarter. Forsta AP Fonden now owns 26,800 shares of the company's stock worth $5,195,000 after acquiring an additional 2,900 shares during the period. Cetera Investment Advisers grew its stake in Builders FirstSource by 762.2% in the first quarter. Cetera Investment Advisers now owns 50,982 shares of the company's stock valued at $10,632,000 after purchasing an additional 45,069 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Builders FirstSource by 18.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company's stock worth $16,055,000 after purchasing an additional 18,223 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Builders FirstSource by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 785,842 shares of the company's stock worth $152,343,000 after buying an additional 16,000 shares during the period. Finally, AMF Tjanstepension AB acquired a new position in shares of Builders FirstSource during the 3rd quarter worth about $1,471,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Wall Street Analyst Weigh In

BLDR has been the topic of several recent research reports. Loop Capital boosted their price objective on Builders FirstSource from $190.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, September 20th. Wedbush reaffirmed an "outperform" rating and issued a $230.00 price target on shares of Builders FirstSource in a report on Wednesday, November 6th. The Goldman Sachs Group started coverage on shares of Builders FirstSource in a research note on Thursday, October 10th. They set a "buy" rating and a $225.00 price target on the stock. Truist Financial raised Builders FirstSource from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $165.00 to $220.00 in a report on Monday, September 16th. Finally, Benchmark cut their price objective on shares of Builders FirstSource from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $206.47.

Insider Activity at Builders FirstSource

In other news, Director Cleveland A. Christophe sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the sale, the director now directly owns 33,083 shares in the company, valued at approximately $5,902,338.03. The trade was a 23.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Builders FirstSource Stock Performance

Shares of NYSE:BLDR traded down $0.35 during trading on Tuesday, hitting $184.47. 659,369 shares of the company were exchanged, compared to its average volume of 1,262,472. The company has a market cap of $21.23 billion, a PE ratio of 18.01, a P/E/G ratio of 1.03 and a beta of 2.06. Builders FirstSource, Inc. has a 52-week low of $130.75 and a 52-week high of $214.70. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16. The stock has a 50 day moving average of $185.11 and a 200 day moving average of $168.62.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.09 by ($0.02). Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter last year, the business posted $4.24 earnings per share. Builders FirstSource's revenue was down 6.7% compared to the same quarter last year. As a group, equities research analysts predict that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

Builders FirstSource declared that its board has authorized a share buyback plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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, floor 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.