Maryland State Retirement & Pension System Lowers Position in TopBuild Corp. (NYSE:BLD)

Maryland State Retirement & Pension System lessened its stake in TopBuild Corp. (NYSE:BLD) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,607 shares of the construction company’s stock after selling 207 shares during the quarter. Maryland State Retirement & Pension System’s holdings in TopBuild were worth $500,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Pitcairn Co. lifted its stake in TopBuild by 178.2% during the 3rd quarter. Pitcairn Co. now owns 2,220 shares of the construction company’s stock valued at $903,000 after acquiring an additional 1,422 shares in the last quarter. TT International Asset Management LTD lifted its position in shares of TopBuild by 33.3% during the fourth quarter. TT International Asset Management LTD now owns 18,781 shares of the construction company’s stock valued at $5,847,000 after purchasing an additional 4,694 shares in the last quarter. Van ECK Associates Corp boosted its holdings in TopBuild by 57.8% during the fourth quarter. Van ECK Associates Corp now owns 32,633 shares of the construction company’s stock worth $10,160,000 after purchasing an additional 11,948 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in TopBuild by 37.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 178,824 shares of the construction company’s stock worth $72,747,000 after purchasing an additional 48,562 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in TopBuild by 72.0% in the 3rd quarter. Bank of Montreal Can now owns 11,239 shares of the construction company’s stock valued at $4,600,000 after buying an additional 4,703 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BLD. Evercore ISI downgraded TopBuild from an “outperform” rating to an “inline” rating and cut their target price for the stock from $443.00 to $381.00 in a research note on Monday, December 16th. Benchmark decreased their target price on TopBuild from $445.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Loop Capital cut their price target on shares of TopBuild from $405.00 to $390.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Truist Financial reduced their price target on shares of TopBuild from $395.00 to $310.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Finally, Seaport Res Ptn cut shares of TopBuild from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, TopBuild presently has a consensus rating of “Moderate Buy” and an average target price of $403.88.

TopBuild Price Performance

Shares of NYSE:BLD opened at $315.74 on Tuesday. The company has a 50-day moving average price of $322.43 and a two-hundred day moving average price of $350.56. TopBuild Corp. has a twelve month low of $288.31 and a twelve month high of $495.68. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $9.23 billion, a PE ratio of 15.93, a P/E/G ratio of 1.82 and a beta of 1.89.

TopBuild (NYSE:BLD) last released its quarterly earnings data on Tuesday, February 25th. The construction company reported $5.13 EPS for the quarter, topping the consensus estimate of $5.07 by $0.06. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. TopBuild had a net margin of 11.66% and a return on equity of 26.40%. TopBuild’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $4.69 EPS. Equities analysts forecast that TopBuild Corp. will post 20.97 EPS for the current year.

TopBuild Company 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.