California Public Employees Retirement System Reduces Position in Builders FirstSource, Inc. (NYSE:BLDR)

California Public Employees Retirement System lessened its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 6.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 246,034 shares of the company’s stock after selling 16,807 shares during the quarter. California Public Employees Retirement System’s holdings in Builders FirstSource were worth $41,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Builders FirstSource by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 12,682,752 shares of the company’s stock worth $1,578,876,000 after buying an additional 96,638 shares during the last quarter. Invesco Ltd. grew its stake in Builders FirstSource by 80.8% during the 3rd quarter. Invesco Ltd. now owns 1,956,109 shares of the company’s stock worth $243,516,000 after buying an additional 874,268 shares during the last quarter. AQR Capital Management LLC grew its stake in Builders FirstSource by 19.5% during the 3rd quarter. AQR Capital Management LLC now owns 1,573,870 shares of the company’s stock worth $195,931,000 after buying an additional 256,609 shares during the last quarter. Northern Trust Corp grew its stake in Builders FirstSource by 8.6% during the 3rd quarter. Northern Trust Corp now owns 1,254,464 shares of the company’s stock worth $156,168,000 after buying an additional 99,792 shares during the last quarter. Finally, Dendur Capital LP grew its stake in Builders FirstSource by 3.0% during the 3rd quarter. Dendur Capital LP now owns 1,034,903 shares of the company’s stock worth $128,835,000 after buying an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Builders FirstSource Stock Performance

Shares of BLDR stock opened at $187.64 on Friday. The stock has a fifty day moving average price of $195.18 and a 200 day moving average price of $164.58. The stock has a market cap of $22.88 billion, a PE ratio of 15.65, a P/E/G ratio of 1.16 and a beta of 2.04. Builders FirstSource, Inc. has a 1 year low of $90.35 and a 1 year high of $214.70. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.11 and a current ratio of 1.77.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.85. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Builders FirstSource had a return on equity of 41.10% and a net margin of 9.01%. Sell-side analysts forecast that Builders FirstSource, Inc. will post 13.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BLDR has been the topic of several analyst reports. Wedbush lifted their target price on Builders FirstSource from $175.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, February 12th. StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada lifted their target price on Builders FirstSource from $186.00 to $211.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Oppenheimer lifted their target price on Builders FirstSource from $220.00 to $242.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, Barclays lifted their target price on Builders FirstSource from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $190.06.

Insider Buying and Selling

In related news, Director Cory Jacobs Boydston sold 7,759 shares of Builders FirstSource stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $200.00, for a total transaction of $1,551,800.00. Following the completion of the transaction, the director now directly owns 28,738 shares of the company’s stock, valued at $5,747,600. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is currently owned by insiders.

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.