SummitTX Capital L.P. Has $27.29 Million Stock Position in TopBuild Corp. $BLD

SummitTX Capital L.P. grew its holdings in shares of TopBuild Corp. (NYSE:BLD) by 55.4% during the first quarter, Holdings Channel.com reports. The firm owned 77,684 shares of the construction company’s stock after buying an additional 27,700 shares during the quarter. TopBuild accounts for approximately 0.9% of SummitTX Capital L.P.’s portfolio, making the stock its 10th biggest position. SummitTX Capital L.P.’s holdings in TopBuild were worth $27,290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC increased its stake in TopBuild by 48.2% during the 1st quarter. AQR Capital Management LLC now owns 2,573 shares of the construction company’s stock valued at $774,000 after buying an additional 837 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of TopBuild by 106.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 239 shares of the construction company’s stock worth $77,000 after buying an additional 123 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of TopBuild by 8.1% in the 2nd quarter. First Trust Advisors LP now owns 67,835 shares of the construction company’s stock worth $21,961,000 after acquiring an additional 5,093 shares during the period. Marshall Wace LLP acquired a new stake in shares of TopBuild in the 2nd quarter worth approximately $489,000. Finally, Federated Hermes Inc. boosted its holdings in shares of TopBuild by 10.7% in the second quarter. Federated Hermes Inc. now owns 6,759 shares of the construction company’s stock valued at $2,188,000 after acquiring an additional 654 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Seaport Research Partners reiterated a “neutral” rating on shares of TopBuild in a research note on Tuesday, April 7th. Evercore set a $360.00 price target on TopBuild in a research note on Monday, June 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $496.00 price target (up from $487.00) on shares of TopBuild in a research report on Tuesday, April 21st. Weiss Ratings reissued a “hold (c)” rating on shares of TopBuild in a research note on Tuesday, June 9th. Finally, DA Davidson restated a “neutral” rating and issued a $437.00 price objective (down from $465.00) on shares of TopBuild in a report 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $465.00.

TopBuild Price Performance

NYSE BLD opened at $354.53 on Monday. TopBuild Corp. has a 12 month low of $321.67 and a 12 month high of $559.47. The company has a market capitalization of $9.94 billion, a P/E ratio of 19.92, a PEG ratio of 4.80 and a beta of 1.80. The company’s 50 day simple moving average is $389.00 and its 200 day simple moving average is $420.87. 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 issued its earnings results on Tuesday, May 5th. The construction company reported $3.75 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.11. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.41 billion. TopBuild had a net margin of 8.95% and a return on equity of 23.53%. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the firm posted $4.63 earnings per share. Equities research analysts expect that TopBuild Corp. will post 18.07 earnings per share for the current fiscal year.

TopBuild 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.