Renaissance Technologies LLC Takes $9.73 Million Position in TopBuild Corp. $BLD

Renaissance Technologies LLC purchased a new stake in shares of TopBuild Corp. (NYSE:BLD) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,700 shares of the construction company’s stock, valued at approximately $9,731,000. Renaissance Technologies LLC owned 0.10% of TopBuild as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BLD. Greenleaf Trust raised its holdings in TopBuild by 1.8% during the 4th quarter. Greenleaf Trust now owns 1,214 shares of the construction company’s stock worth $506,000 after purchasing an additional 22 shares during the last quarter. Root Financial Partners LLC boosted its stake in shares of TopBuild by 25.3% in the 4th quarter. Root Financial Partners LLC now owns 109 shares of the construction company’s stock valued at $45,000 after purchasing an additional 22 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of TopBuild by 6.1% in the 4th quarter. UMB Bank n.a. now owns 384 shares of the construction company’s stock valued at $160,000 after purchasing an additional 22 shares during the last quarter. Bessemer Group Inc. grew its position in shares of TopBuild by 7.9% during the 1st quarter. Bessemer Group Inc. now owns 328 shares of the construction company’s stock worth $115,000 after buying an additional 24 shares during the period. Finally, Kera Capital Partners Inc. grew its position in shares of TopBuild by 3.3% during the 1st quarter. Kera Capital Partners Inc. now owns 789 shares of the construction company’s stock worth $277,000 after buying an additional 25 shares during the period. Institutional investors own 95.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BLD shares. Evercore set a $360.00 price objective on shares of TopBuild in a report on Monday, June 29th. Wells Fargo & Company dropped their target price on shares of TopBuild from $525.00 to $475.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Weiss Ratings reissued a “hold (c)” rating on shares of TopBuild in a research note on Tuesday, June 9th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $496.00 price target (up from $487.00) on shares of TopBuild in a research report on Tuesday, April 21st. 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 note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $465.00.

TopBuild Price Performance

TopBuild stock opened at $354.53 on Monday. The stock has a market capitalization of $9.94 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 4.80 and a beta of 1.80. TopBuild Corp. has a twelve month low of $321.67 and a twelve month high of $559.47. The company has a quick ratio of 1.41, a current ratio of 2.00 and a debt-to-equity ratio of 1.16. The company has a 50 day moving average of $383.73 and a 200-day moving average of $417.53.

TopBuild (NYSE:BLD) last issued its quarterly earnings data 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. TopBuild had a net margin of 8.95% and a return on equity of 23.53%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the firm earned $4.63 earnings per share. The firm’s revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts anticipate that TopBuild Corp. will post 18.07 EPS for the current fiscal year.

About TopBuild

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.