Cigna Investments Inc. New Takes $239,000 Position in Builders FirstSource, Inc. (NYSE:BLDR)

Cigna Investments Inc. New bought a new stake in Builders FirstSource, Inc. (NYSE:BLDR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,234 shares of the company’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in shares of Builders FirstSource in the third quarter valued at $39,000. US Bancorp DE raised its holdings in Builders FirstSource by 32.8% in the third quarter. US Bancorp DE now owns 15,825 shares of the company’s stock valued at $3,068,000 after acquiring an additional 3,911 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in Builders FirstSource by 75.7% in the third quarter. First Trust Direct Indexing L.P. now owns 5,861 shares of the company’s stock valued at $1,136,000 after acquiring an additional 2,525 shares in the last quarter. Trajan Wealth LLC raised its holdings in Builders FirstSource by 5.6% in the third quarter. Trajan Wealth LLC now owns 1,608 shares of the company’s stock valued at $312,000 after acquiring an additional 85 shares in the last quarter. Finally, Avitas Wealth Management LLC raised its holdings in Builders FirstSource by 16.9% in the third quarter. Avitas Wealth Management LLC now owns 2,641 shares of the company’s stock valued at $512,000 after acquiring an additional 381 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BLDR. Loop Capital upped their price target on shares of Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a report on Friday, September 20th. Benchmark cut their price target on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Builders FirstSource in a report on Tuesday. The Goldman Sachs Group began coverage on shares of Builders FirstSource in a report on Thursday, October 10th. They issued a “buy” rating and a $225.00 price target on the stock. Finally, Bank of America upped their price target on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.35.

Builders FirstSource Stock Up 0.4 %

Builders FirstSource stock opened at $172.02 on Friday. The company has a 50-day simple moving average of $184.65 and a 200-day simple moving average of $168.68. The firm has a market capitalization of $20.03 billion, a P/E ratio of 15.10, a P/E/G ratio of 10.20 and a beta of 2.06. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. Builders FirstSource, Inc. has a one year low of $119.99 and a one year high of $214.70.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.02 by $0.48. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.89 earnings per share. As a group, equities analysts expect that Builders FirstSource, Inc. will post 11.69 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has initiated a share buyback plan on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the transaction, the director now owns 95,333 shares in the company, valued at $14,650,775.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by 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.