State of Michigan Retirement System Cuts Holdings in TopBuild Corp. $BLD

State of Michigan Retirement System lowered its position in TopBuild Corp. (NYSE:BLD) by 2.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,857 shares of the construction company’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in TopBuild were worth $2,220,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of TopBuild in the 2nd quarter valued at about $35,000. SVB Wealth LLC acquired a new stake in TopBuild in the first quarter valued at approximately $35,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TopBuild in the second quarter valued at approximately $63,000. Blue Trust Inc. raised its stake in shares of TopBuild by 21.7% during the 2nd quarter. Blue Trust Inc. now owns 224 shares of the construction company’s stock worth $73,000 after buying an additional 40 shares during the period. Finally, Signaturefd LLC raised its stake in shares of TopBuild by 170.1% during the 1st quarter. Signaturefd LLC now owns 262 shares of the construction company’s stock worth $80,000 after buying an additional 165 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.

TopBuild Trading Down 3.2%

BLD opened at $405.64 on Thursday. The firm has a market capitalization of $11.41 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 4.38 and a beta of 1.64. The company’s 50 day simple moving average is $420.21 and its two-hundred day simple moving average is $367.85. TopBuild Corp. has a 1-year low of $266.26 and a 1-year high of $461.49. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.90 and a quick ratio of 2.29.

TopBuild (NYSE:BLD) last posted its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.36 EPS for the quarter, beating the consensus estimate of $5.22 by $0.14. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.38 billion. TopBuild had a return on equity of 27.10% and a net margin of 10.84%.The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.68 earnings per share. TopBuild has set its FY 2025 guidance at EPS. Analysts expect that TopBuild Corp. will post 20.97 EPS for the current fiscal year.

Insider Activity at TopBuild

In other news, CFO Robert M. Kuhns sold 2,000 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $416.10, for a total transaction of $832,200.00. Following the transaction, the chief financial officer owned 15,633 shares of the company’s stock, valued at approximately $6,504,891.30. The trade was a 11.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of TopBuild in a report on Wednesday, October 8th. Seaport Res Ptn upgraded shares of TopBuild from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 6th. UBS Group set a $370.00 target price on shares of TopBuild and gave the stock a “hold” rating in a research note on Tuesday, August 5th. Evercore ISI decreased their price target on shares of TopBuild from $449.00 to $448.00 and set an “in-line” rating on the stock in a research note on Wednesday. Finally, Truist Financial boosted their price objective on TopBuild from $370.00 to $390.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $425.83.

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.