Envestnet Portfolio Solutions Inc. Increases Stock Position in Trex Company, Inc. (NYSE:TREX)

Envestnet Portfolio Solutions Inc. grew its holdings in Trex Company, Inc. (NYSE:TREX) by 12.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,828 shares of the construction company’s stock after purchasing an additional 2,165 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Trex were worth $1,369,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. AustralianSuper Pty Ltd purchased a new position in Trex in the 4th quarter worth about $110,414,000. Wasatch Advisors LP lifted its position in Trex by 33.2% during the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after purchasing an additional 1,015,516 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Trex by 6,093.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock worth $56,834,000 after purchasing an additional 839,837 shares during the last quarter. Point72 Asset Management L.P. grew its position in Trex by 100.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock worth $68,075,000 after purchasing an additional 511,163 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Trex by 462.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock valued at $35,231,000 after buying an additional 435,055 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Insider Buying and Selling at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the sale, the director now owns 1,705 shares in the company, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.71% of the company’s stock.

Trex Trading Down 0.4 %

Shares of TREX opened at $59.54 on Friday. The business’s 50 day moving average is $65.48 and its 200 day moving average is $67.95. Trex Company, Inc. has a 12-month low of $52.75 and a 12-month high of $100.77. The company has a market capitalization of $6.38 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $167.63 million for the quarter, compared to analysts’ expectations of $160.54 million. Equities research analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on TREX shares. Benchmark reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Trex in a report on Monday, March 3rd. Citigroup reduced their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Truist Financial dropped their price objective on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Bank of America decreased their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Trex presently has a consensus rating of “Hold” and a consensus price target of $78.63.

About Trex

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.