Jennison Associates LLC Trims Stock Position in TopBuild Corp. (NYSE:BLD)

Jennison Associates LLC decreased its position in TopBuild Corp. (NYSE:BLD) by 34.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,010 shares of the construction company’s stock after selling 2,640 shares during the period. Jennison Associates LLC’s holdings in TopBuild were worth $1,875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new position in TopBuild in the fourth quarter valued at approximately $28,000. BluePath Capital Management LLC acquired a new position in shares of TopBuild in the 3rd quarter valued at $30,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of TopBuild by 37.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 159 shares of the construction company’s stock worth $40,000 after purchasing an additional 43 shares during the period. Headlands Technologies LLC acquired a new stake in shares of TopBuild during the 3rd quarter worth about $44,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in TopBuild in the 3rd quarter valued at about $75,000. Institutional investors and hedge funds own 95.67% of the company’s stock.

TopBuild Stock Performance

NYSE:BLD opened at $407.25 on Friday. TopBuild Corp. has a 52 week low of $199.31 and a 52 week high of $452.87. The company has a fifty day simple moving average of $412.45 and a two-hundred day simple moving average of $352.63. The company has a quick ratio of 2.18, a current ratio of 2.66 and a debt-to-equity ratio of 0.54. The company has a market cap of $12.96 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 2.83 and a beta of 1.66.

TopBuild (NYSE:BLD) last released its earnings results on Wednesday, February 28th. The construction company reported $4.69 EPS for the quarter, topping the consensus estimate of $4.60 by $0.09. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.29 billion. TopBuild had a return on equity of 27.03% and a net margin of 11.82%. TopBuild’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.40 EPS. As a group, equities analysts anticipate that TopBuild Corp. will post 21.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Loop Capital raised shares of TopBuild from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Truist Financial cut shares of TopBuild from a “buy” rating to a “hold” rating and increased their price objective for the stock from $290.00 to $410.00 in a research report on Thursday, January 4th. Bank of America boosted their target price on TopBuild from $410.00 to $475.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. StockNews.com upgraded TopBuild from a “hold” rating to a “buy” rating in a research report on Saturday, April 6th. Finally, DA Davidson began coverage on TopBuild in a research note on Tuesday, March 5th. They issued a “buy” rating and a $470.00 price objective for the company. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $418.90.

TopBuild Profile

TopBuild Corp., together with its subsidiaries, engages in the installation and distribution of insulation and other building material products to the construction industry. The company operates in two segments, Installation and Specialty Distribution. It provides insulation products and accessories, glass and windows, rain gutters, garage doors, fireplaces, roofing materials, closet shelving, and other products.