Penserra Capital Management LLC Sells 1,045 Shares of Trex Company, Inc. (NYSE:TREX)

Posted by on Feb 27th, 2023

Penserra Capital Management LLC decreased its position in shares of Trex Company, Inc. (NYSE:TREX – Get Rating) by 16.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,429 shares of the construction company’s stock after selling 1,045 shares during the quarter. Penserra Capital Management LLC’s holdings in Trex were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. MML Investors Services LLC boosted its position in shares of Trex by 1.5% during the third quarter. MML Investors Services LLC now owns 17,495 shares of the construction company’s stock valued at $769,000 after buying an additional 258 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Trex by 139.0% during the third quarter. Canada Pension Plan Investment Board now owns 53,300 shares of the construction company’s stock valued at $2,342,000 after buying an additional 31,000 shares during the last quarter. Renaissance Group LLC boosted its position in shares of Trex by 3.3% during the third quarter. Renaissance Group LLC now owns 13,854 shares of the construction company’s stock valued at $609,000 after buying an additional 443 shares during the last quarter. Aperture Investors LLC purchased a new position in shares of Trex during the third quarter valued at approximately $11,264,000. Finally, Prudential PLC boosted its position in Trex by 273.1% in the third quarter. Prudential PLC now owns 26,959 shares of the construction company’s stock worth $1,185,000 after purchasing an additional 19,733 shares during the last quarter. Hedge funds and other institutional investors own 94.64% of the company’s stock.

Trex Stock Performance

NYSE:TREX opened at $50.15 on Monday. Trex Company, Inc. has a 52-week low of $38.68 and a 52-week high of $92.93. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 14.88 and a beta of 1.50. The business’s fifty day moving average is $49.62 and its 200 day moving average is $47.94.

Wall Street Analyst Weigh In

Several research firms have weighed in on TREX. Deutsche Bank Aktiengesellschaft cut their price objective on Trex from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, January 10th. B. Riley boosted their price objective on Trex from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, February 6th. Benchmark cut their price objective on Trex to $60.00 in a research report on Friday, November 4th. Loop Capital boosted their price objective on Trex from $50.00 to $52.00 in a research report on Monday, January 30th. Finally, Stifel Nicolaus cut their price objective on Trex from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, November 1st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Trex has a consensus rating of “Hold” and a consensus price target of $63.35.

About Trex

(Get Rating)

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

Further Reading

Institutional Ownership by Quarter for Trex (NYSE:TREX)

Receive News & Ratings for Trex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trex and related companies with MarketBeat.com's FREE daily email newsletter.