Ensign Peak Advisors Inc Sells 7,455 Shares of Trex Company, Inc. (NYSE:TREX)

Ensign Peak Advisors Inc lowered its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,553 shares of the construction company’s stock after selling 7,455 shares during the quarter. Ensign Peak Advisors Inc owned 0.11% of Trex worth $8,861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. TD Asset Management Inc increased its position in shares of Trex by 516.8% during the 4th quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock valued at $132,545,000 after purchasing an additional 1,341,419 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in Trex by 250.4% during the fourth quarter. Epoch Investment Partners Inc. now owns 938,544 shares of the construction company’s stock worth $77,702,000 after buying an additional 670,665 shares during the period. Renaissance Technologies LLC bought a new position in Trex during the second quarter valued at $19,475,000. Motley Fool Asset Management LLC raised its stake in shares of Trex by 287.5% in the first quarter. Motley Fool Asset Management LLC now owns 324,808 shares of the construction company’s stock valued at $32,400,000 after acquiring an additional 240,989 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of Trex by 39.1% in the 2nd quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company’s stock worth $57,375,000 after acquiring an additional 217,767 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

TREX has been the topic of several analyst reports. Citigroup cut their price target on shares of Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Barclays reduced their price target on Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. B. Riley dropped their price objective on Trex from $107.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. UBS Group reduced their target price on Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Robert W. Baird decreased their target price on Trex from $88.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $80.88.

Trex Stock Up 0.2 %

Shares of TREX stock opened at $69.81 on Wednesday. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 2.25 and a beta of 1.50. Trex Company, Inc. has a 52-week low of $53.59 and a 52-week high of $101.91. The company’s 50 day moving average is $69.10 and its 200 day moving average is $81.02.

Trex (NYSE:TREX) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $376.47 million for the quarter, compared to the consensus estimate of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.71 EPS. Analysts anticipate that Trex Company, Inc. will post 2.03 EPS for the current fiscal year.

Trex Company 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.