Principal Financial Group Inc. Reduces Position in TopBuild Corp. (NYSE:BLD)

Principal Financial Group Inc. cut its holdings in shares of TopBuild Corp. (NYSE:BLDGet Rating) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,007 shares of the construction company’s stock after selling 1,533 shares during the quarter. Principal Financial Group Inc.’s holdings in TopBuild were worth $31,180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BLD. First Trust Advisors LP lifted its holdings in TopBuild by 19.8% during the first quarter. First Trust Advisors LP now owns 45,325 shares of the construction company’s stock valued at $2,938,000 after purchasing an additional 7,493 shares during the last quarter. Morgan Stanley increased its position in shares of TopBuild by 35.8% during the second quarter. Morgan Stanley now owns 132,833 shares of the construction company’s stock valued at $26,271,000 after buying an additional 35,031 shares during the period. Commonwealth Equity Services LLC increased its position in shares of TopBuild by 7.2% during the third quarter. Commonwealth Equity Services LLC now owns 1,310 shares of the construction company’s stock valued at $268,000 after buying an additional 88 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of TopBuild by 46.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 1,793 shares of the construction company’s stock valued at $367,000 after buying an additional 570 shares during the period. Finally, Toronto Dominion Bank bought a new stake in shares of TopBuild during the third quarter valued at about $655,000. 96.91% of the stock is currently owned by institutional investors and hedge funds.

BLD stock opened at $198.18 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.15 and a debt-to-equity ratio of 0.86. The company’s 50 day moving average is $192.03 and its 200 day moving average is $230.26. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 17.32 and a beta of 1.45. TopBuild Corp. has a 1-year low of $165.01 and a 1-year high of $284.07.

TopBuild (NYSE:BLDGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The construction company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.65. TopBuild had a net margin of 9.68% and a return on equity of 25.63%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the business earned $2.02 earnings per share. The business’s quarterly revenue was up 61.6% on a year-over-year basis. As a group, sell-side analysts forecast that TopBuild Corp. will post 14.8 EPS for the current fiscal year.

Several brokerages have recently weighed in on BLD. Benchmark decreased their price target on TopBuild from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. JPMorgan Chase & Co. decreased their price target on TopBuild from $219.00 to $193.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 20th. Jefferies Financial Group decreased their price target on TopBuild from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Truist Financial upped their price target on TopBuild from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, February 23rd. Finally, Credit Suisse Group started coverage on TopBuild in a research report on Tuesday, April 5th. They set an “outperform” rating and a $235.00 price target on the stock. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $262.50.

About TopBuild (Get Rating)

TopBuild Corp., together with its subsidiaries, engages in the installation and distribution of insulation and other building 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, afterpaint products, fireproofing products, garage doors, fireplaces, closet shelving, roofing materials, and other products; and insulation installation services.

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Institutional Ownership by Quarter for TopBuild (NYSE:BLD)

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