Icon Wealth Advisors LLC Makes New Investment in Builders FirstSource, Inc. (NYSE:BLDR)

Icon Wealth Advisors LLC acquired a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the third quarter, HoldingsChannel.com reports. The fund acquired 50,800 shares of the company’s stock, valued at approximately $9,848,000. Builders FirstSource comprises about 0.4% of Icon Wealth Advisors LLC’s investment portfolio, making the stock its 29th largest position.

A number of other institutional investors have also made changes to their positions in BLDR. Innealta Capital LLC bought a new position in Builders FirstSource in the 2nd quarter worth $27,000. Armstrong Advisory Group Inc. acquired a new position in shares of Builders FirstSource during the 3rd quarter worth about $30,000. First Horizon Advisors Inc. lifted its position in shares of 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. New Millennium Group LLC bought a new stake in Builders FirstSource during the 2nd quarter valued at approximately $38,000. Finally, Reston Wealth Management LLC acquired a new stake in Builders FirstSource in the 3rd quarter valued at approximately $39,000. 95.53% of the stock is owned by institutional investors.

Builders FirstSource Stock Up 0.6 %

Shares of NYSE BLDR opened at $175.94 on Friday. Builders FirstSource, Inc. has a 12-month low of $130.75 and a 12-month high of $214.70. The firm’s 50-day simple moving average is $186.33 and its 200 day simple moving average is $167.92. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83. The company has a market cap of $20.25 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.00 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.02). Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the company earned $4.24 earnings per share. Builders FirstSource’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, 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 initiated a share repurchase plan on Tuesday, August 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Builders FirstSource

In other news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. This trade represents a 23.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BLDR. Barclays increased their price objective on Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Wedbush restated an “outperform” rating and set a $230.00 price objective on shares of Builders FirstSource in a report on Wednesday, November 6th. Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price on shares of Builders FirstSource in a research note on Tuesday, October 29th. Robert W. Baird upped their price target on Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Loop Capital raised their price objective on Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $206.47.

Builders FirstSource 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.