California Public Employees Retirement System cut its position in TopBuild Corp. (NYSE:BLD – Free Report) by 6.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,837 shares of the construction company’s stock after selling 4,038 shares during the period. California Public Employees Retirement System owned approximately 0.19% of TopBuild worth $16,450,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Bessemer Group Inc. increased its holdings in shares of TopBuild by 6.4% in the first quarter. Bessemer Group Inc. now owns 885 shares of the construction company’s stock valued at $184,000 after purchasing an additional 53 shares during the period. Aurora Investment Counsel increased its holdings in shares of TopBuild by 1.0% in the first quarter. Aurora Investment Counsel now owns 5,408 shares of the construction company’s stock valued at $1,126,000 after purchasing an additional 54 shares during the period. TFG Advisers LLC increased its holdings in shares of TopBuild by 3.2% in the first quarter. TFG Advisers LLC now owns 1,938 shares of the construction company’s stock valued at $403,000 after purchasing an additional 60 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of TopBuild by 10.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 615 shares of the construction company’s stock valued at $96,000 after purchasing an additional 60 shares during the period. Finally, Argent Capital Management LLC boosted its stake in shares of TopBuild by 0.4% in the first quarter. Argent Capital Management LLC now owns 14,065 shares of the construction company’s stock worth $2,927,000 after buying an additional 63 shares during the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.
In other news, insider Steven P. Raia sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $286.44, for a total value of $286,440.00. Following the transaction, the insider now owns 9,670 shares in the company, valued at $2,769,874.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.
TopBuild Stock Performance
TopBuild (NYSE:BLD – Get Free Report) last released its earnings results on Tuesday, October 31st. The construction company reported $5.43 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.84. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.29 billion. TopBuild had a return on equity of 28.59% and a net margin of 11.82%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.80 earnings per share. As a group, equities research analysts anticipate that TopBuild Corp. will post 19.35 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on BLD. Evercore ISI upgraded TopBuild from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $308.00 to $368.00 in a research note on Thursday, November 9th. Benchmark restated a “buy” rating and issued a $320.00 target price on shares of TopBuild in a research note on Tuesday, August 8th. The Goldman Sachs Group began coverage on TopBuild in a research note on Thursday. They issued a “buy” rating and a $355.00 target price on the stock. Jefferies Financial Group lowered their target price on TopBuild from $365.00 to $331.00 in a research note on Thursday, October 12th. Finally, Truist Financial lowered their target price on TopBuild from $340.00 to $290.00 and set a “buy” rating on the stock in a research note on Wednesday, November 1st. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $297.27.
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, afterpaint products, fireproofing products, garage doors, fireplaces, closet shelving, roofing materials, and other products; and insulation installation services.
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