Harbour Capital Advisors LLC Takes Position in Builders FirstSource, Inc. (NYSE:BLDR)

Harbour Capital Advisors LLC bought a new stake in Builders FirstSource, Inc. (NYSE:BLDR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,525 shares of the company’s stock, valued at approximately $296,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners lifted its position in shares of Builders FirstSource by 0.8% during the first quarter. Boston Partners now owns 1,377,335 shares of the company’s stock worth $285,794,000 after acquiring an additional 10,551 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Builders FirstSource by 339.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after purchasing an additional 911,990 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Builders FirstSource by 22.7% in the second quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after purchasing an additional 196,571 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Builders FirstSource by 1.2% in the second quarter. William Blair Investment Management LLC now owns 1,051,461 shares of the company’s stock worth $145,533,000 after purchasing an additional 12,518 shares during the last quarter. Finally, Anomaly Capital Management LP lifted its holdings in Builders FirstSource by 22.5% in the second quarter. Anomaly Capital Management LP now owns 1,020,441 shares of the company’s stock worth $141,239,000 after buying an additional 187,371 shares during the period. 95.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Benchmark lowered their target price on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. StockNews.com upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a report on Monday, September 23rd. Bank of America lifted their target price on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. The Goldman Sachs Group assumed coverage on shares of Builders FirstSource in a report on Thursday, October 10th. They set a “buy” rating and a $225.00 target price for the company. Finally, Barclays lifted their target price on shares of Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Four 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.38.

Insiders Place Their Bets

In other news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the sale, the director now directly owns 95,333 shares in the company, valued at approximately $14,650,775.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Builders FirstSource Trading Down 0.2 %

Shares of Builders FirstSource stock opened at $194.97 on Friday. The company has a market capitalization of $23.80 billion, a P/E ratio of 16.69, a P/E/G ratio of 11.48 and a beta of 2.06. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The company has a fifty day moving average of $181.78 and a 200 day moving average of $169.83. Builders FirstSource, Inc. has a fifty-two week low of $105.24 and a fifty-two week high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.02 by $0.48. The business had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.89 EPS. On average, sell-side analysts anticipate that Builders FirstSource, Inc. will post 11.68 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has approved a stock repurchase plan on Tuesday, August 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.