California Public Employees Retirement System decreased its position in TopBuild Corp. (NYSE:BLD – Get Rating) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,879 shares of the construction company’s stock after selling 1,782 shares during the quarter. California Public Employees Retirement System owned approximately 0.22% of TopBuild worth $19,832,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BLD. First Trust Advisors LP grew its stake in shares of TopBuild by 19.8% in the 1st quarter. First Trust Advisors LP now owns 45,325 shares of the construction company’s stock worth $2,938,000 after acquiring an additional 7,493 shares in the last quarter. Morgan Stanley grew its stake in shares of TopBuild by 35.8% in the 2nd quarter. Morgan Stanley now owns 132,833 shares of the construction company’s stock worth $26,271,000 after acquiring an additional 35,031 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of TopBuild by 7.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,310 shares of the construction company’s stock worth $268,000 after acquiring an additional 88 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of TopBuild by 46.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,793 shares of the construction company’s stock worth $367,000 after acquiring an additional 570 shares in the last quarter. Finally, Toronto Dominion Bank purchased a new position in shares of TopBuild in the 3rd quarter worth about $655,000. Hedge funds and other institutional investors own 96.91% of the company’s stock.
A number of brokerages recently weighed in on BLD. Credit Suisse Group began coverage on shares of TopBuild in a report on Tuesday, April 5th. They issued an “outperform” rating and a $235.00 price target on the stock. JPMorgan Chase & Co. cut their price target on shares of TopBuild from $219.00 to $193.00 and set a “neutral” rating on the stock in a report on Wednesday, April 20th. StockNews.com began coverage on shares of TopBuild in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Truist Financial boosted their price target on shares of TopBuild from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, February 23rd. Finally, Jefferies Financial Group cut their price target on shares of TopBuild from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, February 23rd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $262.50.
TopBuild (NYSE:BLD – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm posted $2.02 earnings per share. The company’s revenue for the quarter was up 61.6% on a year-over-year basis. As a group, equities research analysts anticipate that TopBuild Corp. will post 14.8 EPS for the current year.
TopBuild Company Profile (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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