PNC Financial Services Group Inc. Sells 1,178 Shares of Trex Company, Inc. (NYSE:TREX)

PNC Financial Services Group Inc. reduced its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 16.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,915 shares of the construction company’s stock after selling 1,178 shares during the period. PNC Financial Services Group Inc.’s holdings in Trex were worth $490,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TREX. V Square Quantitative Management LLC bought a new stake in shares of Trex during the 4th quarter valued at about $25,000. Contravisory Investment Management Inc. bought a new position in shares of Trex in the fourth quarter worth approximately $28,000. Headinvest LLC bought a new position in shares of Trex in the third quarter worth approximately $29,000. Vestor Capital LLC bought a new position in shares of Trex in the fourth quarter worth approximately $47,000. Finally, Neo Ivy Capital Management bought a new position in shares of Trex in the third quarter worth approximately $66,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Insider Buying and Selling

In related news, SVP Jacob T. Rudolph sold 16,440 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the completion of the transaction, the senior vice president now owns 25,746 shares in the company, valued at $2,340,311.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.71% of the stock is owned by company insiders.

Trex Price Performance

TREX opened at $74.32 on Friday. The firm has a market cap of $8.08 billion, a P/E ratio of 31.90, a PEG ratio of 1.64 and a beta of 1.56. Trex Company, Inc. has a 1-year low of $53.59 and a 1-year high of $101.91. The company has a 50 day simple moving average of $86.11 and a two-hundred day simple moving average of $87.53.

Trex (NYSE:TREX) last issued its earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. Trex had a net margin of 20.60% and a return on equity of 35.33%. The firm had revenue of $373.64 million during the quarter, compared to analyst estimates of $367.31 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. Trex’s revenue for the quarter was up 56.5% on a year-over-year basis. Equities analysts anticipate that Trex Company, Inc. will post 2.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Robert W. Baird decreased their price objective on shares of Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, May 10th. JPMorgan Chase & Co. boosted their price objective on shares of Trex from $79.00 to $93.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Barclays boosted their price objective on shares of Trex from $93.00 to $94.00 and gave the company an “underweight” rating in a report on Friday, May 10th. Finally, Benchmark reissued a “buy” rating and set a $105.00 price objective on shares of Trex in a report on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trex presently has a consensus rating of “Hold” and a consensus target price of $89.47.

Trex Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.