LPL Financial LLC Sells 58,459 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

LPL Financial LLC reduced its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 18.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 255,443 shares of the company’s stock after selling 58,459 shares during the period. LPL Financial LLC owned approximately 0.21% of Builders FirstSource worth $35,356,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Innealta Capital LLC acquired a new stake in Builders FirstSource during the second quarter worth about $27,000. Westside Investment Management Inc. acquired a new position in shares of Builders FirstSource in the 1st quarter valued at $31,000. Principal Securities Inc. bought a new position in shares of Builders FirstSource during the 4th quarter worth about $32,000. ORG Partners LLC acquired a new stake in shares of Builders FirstSource during the 1st quarter valued at about $33,000. Finally, American Capital Advisory LLC bought a new stake in Builders FirstSource in the first quarter valued at about $34,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Builders FirstSource Price Performance

Shares of BLDR stock opened at $183.30 on Monday. The firm has a market cap of $22.37 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 10.06 and a beta of 2.06. Builders FirstSource, Inc. has a 12 month low of $105.24 and a 12 month high of $214.70. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average price of $162.36 and a 200 day moving average price of $170.95.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the previous year, the firm posted $3.89 earnings per share. Builders FirstSource’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts expect that Builders FirstSource, Inc. will post 11.65 EPS for the current year.

Builders FirstSource announced that its Board of Directors has approved a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have weighed in on BLDR. Bank of America downgraded Builders FirstSource from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $183.00 to $180.00 in a report on Friday, August 2nd. StockNews.com lowered Builders FirstSource from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Oppenheimer boosted their target price on shares of Builders FirstSource from $190.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada dropped their target price on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Barclays reduced their price target on shares of Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.57.

Insider Transactions at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the sale, the director now owns 95,333 shares in the company, valued at $14,650,775.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by corporate insiders.

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.