Dealers regularly ask PROSALES why Devonshire Investors, a unit of Fidelity Investments, hasn’t tried to dump ProBuild given the LBM giant’s financial challenges over the past few years and continued questions over whether it’s even possible to make a profit on a lumberyard chain that stretches from Florida to Alaska One answer to those questions could lie in this table. It shows the stakes that Fidelity Management & Research, another arm of Fidelity Investments, holds in some of the nation’s biggest builders. Shares like these suggest Fidelity is bullish on housing in general. In that context, owning ProBuild makes sense.
Why Does Fidelity Support ProBuild? It May Be Part of a Bigger Bet
