Caisse DE Depot ET Placement DU Quebec Reduces Stock Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Caisse DE Depot ET Placement DU Quebec decreased its position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 91.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 64,236 shares of the company's stock after selling 715,566 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.06% of Builders FirstSource worth $12,453,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cyndeo Wealth Partners LLC increased its position in Builders FirstSource by 3.7% during the third quarter. Cyndeo Wealth Partners LLC now owns 1,571 shares of the company's stock worth $305,000 after buying an additional 56 shares during the period. World Equity Group Inc. raised its position in Builders FirstSource by 4.1% in the 3rd quarter. World Equity Group Inc. now owns 1,632 shares of the company's stock valued at $316,000 after purchasing an additional 64 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Builders FirstSource by 0.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,240 shares of the company's stock worth $1,417,000 after purchasing an additional 74 shares during the period. First Horizon Advisors Inc. grew its position in Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company's stock worth $35,000 after purchasing an additional 75 shares during the last quarter. Finally, Csenge Advisory Group boosted its stake in shares of Builders FirstSource by 1.9% during the second quarter. Csenge Advisory Group now owns 4,252 shares of the company's stock worth $589,000 after buying an additional 81 shares during the period. Institutional investors and hedge funds own 95.53% of the company's stock.

Builders FirstSource Price Performance

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

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted 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). The company had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The company's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.24 EPS. Equities research analysts expect that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has approved a share buyback plan on Tuesday, August 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the transaction, the director now owns 33,083 shares in the company, valued at approximately $5,902,338.03. This trade represents a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on BLDR. DA Davidson upped their price objective on Builders FirstSource from $169.00 to $175.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. StockNews.com downgraded Builders FirstSource from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. The Goldman Sachs Group assumed coverage on shares of Builders FirstSource in a research note on Thursday, October 10th. They issued a "buy" rating and a $225.00 price objective on the stock. Wedbush restated an "outperform" rating and issued a $230.00 target price on shares of Builders FirstSource in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus dropped their price target on shares of Builders FirstSource from $217.00 to $195.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $206.47.

Builders FirstSource Company Profile

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.