State Board of Administration of Florida Retirement System decreased its holdings in TopBuild Corp. (NYSE:BLD – Free Report) by 5.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,738 shares of the construction company’s stock after selling 1,840 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.09% of TopBuild worth $6,190,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Aurora Investment Counsel lifted its stake in shares of TopBuild by 1.0% in the 1st quarter. Aurora Investment Counsel now owns 5,408 shares of the construction company’s stock valued at $1,126,000 after purchasing an additional 54 shares in the last quarter. Prelude Capital Management LLC acquired a new position in TopBuild during the first quarter valued at approximately $434,000. Brandywine Global Investment Management LLC grew its stake in TopBuild by 153.1% during the first quarter. Brandywine Global Investment Management LLC now owns 9,980 shares of the construction company’s stock worth $2,077,000 after buying an additional 6,037 shares during the period. Toroso Investments LLC purchased a new stake in TopBuild during the first quarter worth approximately $588,000. Finally, Ameriprise Financial Inc. grew its stake in TopBuild by 65.7% during the first quarter. Ameriprise Financial Inc. now owns 348,157 shares of the construction company’s stock worth $72,465,000 after buying an additional 138,058 shares during the period. Hedge funds and other institutional investors own 95.58% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on BLD shares. Truist Financial boosted their price objective on shares of TopBuild from $256.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Loop Capital upped their target price on TopBuild from $225.00 to $285.00 in a research report on Friday, June 30th. StockNews.com began coverage on TopBuild in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Jefferies Financial Group upped their target price on TopBuild from $262.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of TopBuild from $224.00 to $314.00 and gave the company a “neutral” rating in a research note on Monday, August 7th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $281.00.
Insider Transactions at TopBuild
In other news, insider Steven P. Raia sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $286.44, for a total value of $286,440.00. Following the transaction, the insider now directly owns 9,670 shares in the company, valued at approximately $2,769,874.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Steven P. Raia sold 1,300 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $299.34, for a total value of $389,142.00. Following the sale, the insider now owns 10,670 shares of the company’s stock, valued at approximately $3,193,957.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven P. Raia sold 1,000 shares of TopBuild stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $286.44, for a total transaction of $286,440.00. Following the completion of the sale, the insider now owns 9,670 shares in the company, valued at $2,769,874.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,576 shares of company stock worth $2,263,881. 0.46% of the stock is currently owned by insiders.
TopBuild Trading Up 0.6 %
NYSE BLD opened at $261.84 on Tuesday. TopBuild Corp. has a 12 month low of $140.66 and a 12 month high of $307.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.86. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 2.42 and a beta of 1.60. The company’s fifty day moving average price is $281.29 and its two-hundred day moving average price is $239.75.
TopBuild (NYSE:BLD – Get Free Report) last released its earnings results on Thursday, August 3rd. The construction company reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $4.30 by $0.95. TopBuild had a return on equity of 29.75% and a net margin of 11.61%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the business posted $4.43 EPS. TopBuild’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, research analysts predict that TopBuild Corp. will post 18.16 earnings per share for the current fiscal year.
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, afterpaint products, fireproofing products, garage doors, fireplaces, closet shelving, roofing materials, and other products; and insulation installation services.
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