New York Life Investment Management LLC Cuts Holdings in TopBuild Corp. (NYSE:BLD)

New York Life Investment Management LLC reduced its position in TopBuild Corp. (NYSE:BLD) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,335 shares of the construction company’s stock after selling 35 shares during the quarter. New York Life Investment Management LLC’s holdings in TopBuild were worth $1,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Cornercap Investment Counsel Inc. purchased a new position in shares of TopBuild in the 4th quarter worth $221,000. Federated Hermes Inc. raised its position in shares of TopBuild by 103.9% in the 3rd quarter. Federated Hermes Inc. now owns 8,835 shares of the construction company’s stock worth $2,223,000 after buying an additional 4,503 shares during the period. Pacer Advisors Inc. raised its position in shares of TopBuild by 74.4% in the 4th quarter. Pacer Advisors Inc. now owns 6,277 shares of the construction company’s stock worth $2,349,000 after buying an additional 2,677 shares during the period. Nordea Investment Management AB purchased a new position in shares of TopBuild in the 4th quarter worth $222,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of TopBuild in the 4th quarter worth $3,331,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

TopBuild Stock Down 5.1 %

Shares of TopBuild stock opened at $396.35 on Wednesday. The business has a 50-day moving average of $414.07 and a 200-day moving average of $363.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.66 and a quick ratio of 2.18. The company has a market capitalization of $12.61 billion, a PE ratio of 20.50, a P/E/G ratio of 2.94 and a beta of 1.67. TopBuild Corp. has a 1-year low of $199.31 and a 1-year high of $452.87.

TopBuild (NYSE:BLD) last announced its earnings results on Wednesday, February 28th. The construction company reported $4.69 earnings per share for the quarter, beating the consensus estimate of $4.60 by $0.09. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.29 billion. TopBuild had a return on equity of 27.03% and a net margin of 11.82%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $4.40 earnings per share. As a group, equities analysts forecast that TopBuild Corp. will post 21.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on BLD. Evercore ISI increased their price target on TopBuild from $469.00 to $527.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. Stephens reiterated an “equal weight” rating and issued a $425.00 price target on shares of TopBuild in a report on Tuesday, April 23rd. Benchmark increased their price target on TopBuild from $320.00 to $450.00 and gave the company a “buy” rating in a report on Friday, March 1st. DA Davidson began coverage on TopBuild in a report on Tuesday, March 5th. They issued a “buy” rating and a $470.00 price target for the company. Finally, The Goldman Sachs Group increased their price target on TopBuild from $419.00 to $429.00 and gave the company a “buy” rating in a report on Friday, March 1st. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $418.90.

TopBuild Company Profile

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, garage doors, fireplaces, roofing materials, closet shelving, and other products.