TopBuild Corp. $BLD Stock Position Reduced by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in TopBuild Corp. (NYSE:BLD) by 8.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,513 shares of the construction company’s stock after selling 2,204 shares during the quarter. New York State Teachers Retirement System owned 0.09% of TopBuild worth $8,963,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BLD. Y Intercept Hong Kong Ltd grew its holdings in shares of TopBuild by 604.0% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 21,028 shares of the construction company’s stock valued at $7,387,000 after acquiring an additional 18,041 shares in the last quarter. Elevation Point Wealth Partners LLC raised its holdings in shares of TopBuild by 127.5% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,886 shares of the construction company’s stock worth $663,000 after acquiring an additional 1,057 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in TopBuild by 39.5% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 63,595 shares of the construction company’s stock valued at $22,341,000 after purchasing an additional 18,020 shares during the last quarter. Border to Coast Pensions Partnership Ltd boosted its position in TopBuild by 534.9% during the first quarter. Border to Coast Pensions Partnership Ltd now owns 74,723 shares of the construction company’s stock valued at $26,331,000 after purchasing an additional 62,954 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in TopBuild in the first quarter valued at about $2,846,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

TopBuild Stock Performance

NYSE BLD remained flat at $354.53 during trading on Tuesday. TopBuild Corp. has a 12-month low of $321.67 and a 12-month high of $559.47. The company’s fifty day moving average is $409.83 and its 200 day moving average is $428.06. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 4.80 and a beta of 1.80. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.00 and a quick ratio of 1.41.

TopBuild (NYSE:BLD) last released its quarterly earnings results on Tuesday, May 5th. The construction company reported $3.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.11. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.41 billion. TopBuild had a return on equity of 23.53% and a net margin of 8.95%.The firm’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.63 EPS. As a group, analysts expect that TopBuild Corp. will post 18.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BLD shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $496.00 target price (up from $487.00) on shares of TopBuild in a research report on Tuesday, April 21st. Wells Fargo & Company reduced their price target on TopBuild from $525.00 to $475.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Zacks Research raised TopBuild from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Weiss Ratings restated a “hold (c)” rating on shares of TopBuild in a report on Tuesday, June 9th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $437.00 price objective (down from $465.00) on shares of TopBuild in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $460.00.

TopBuild Company Profile

TopBuild Corp. (NYSE: BLD) is a leading installer and distributor of insulation and building material products serving primarily the U.S. construction market. Headquartered in Daytona Beach, Florida, the company was formed in 2011 as a spin-off from ABF Freight System and has since grown through a combination of organic expansion and targeted acquisitions. TopBuild’s core mission is to enhance energy efficiency and comfort in new residential and light commercial construction projects by providing comprehensive insulation solutions and related services.

The company operates through two main segments.