E. Ohman J or Asset Management AB Lowers Stake in TopBuild Corp. $BLD

E. Ohman J or Asset Management AB reduced its position in TopBuild Corp. (NYSE:BLD) by 27.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,448 shares of the construction company’s stock after selling 21,936 shares during the quarter. E. Ohman J or Asset Management AB owned approximately 0.21% of TopBuild worth $23,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Liontrust Investment Partners LLP increased its holdings in shares of TopBuild by 24.8% in the second quarter. Liontrust Investment Partners LLP now owns 376,396 shares of the construction company’s stock worth $121,854,000 after purchasing an additional 74,695 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in TopBuild by 10.2% in the 2nd quarter. Westwood Holdings Group Inc. now owns 302,416 shares of the construction company’s stock worth $97,904,000 after acquiring an additional 27,898 shares during the last quarter. Boston Partners increased its stake in TopBuild by 102.2% in the 2nd quarter. Boston Partners now owns 774,161 shares of the construction company’s stock worth $250,872,000 after acquiring an additional 391,299 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of TopBuild during the 2nd quarter worth approximately $189,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of TopBuild by 6.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 35,036 shares of the construction company’s stock valued at $11,342,000 after acquiring an additional 2,094 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Luis Francisco Machado sold 1,000 shares of TopBuild stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $450.40, for a total transaction of $450,400.00. Following the completion of the sale, the vice president directly owned 9,349 shares in the company, valued at approximately $4,210,789.60. This trade represents a 9.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.43% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BLD shares. Weiss Ratings restated a “hold (c+)” rating on shares of TopBuild in a research report on Wednesday, October 8th. Wells Fargo & Company started coverage on shares of TopBuild in a research report on Monday, November 17th. They set an “overweight” rating and a $500.00 target price on the stock. Benchmark lifted their price target on TopBuild from $444.00 to $515.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Truist Financial boosted their price objective on TopBuild from $370.00 to $390.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Finally, Evercore ISI lowered their price objective on TopBuild from $449.00 to $448.00 and set an “in-line” rating for the company in a research note on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $437.06.

TopBuild Stock Performance

TopBuild stock opened at $432.39 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.90 and a quick ratio of 2.45. The firm has a market capitalization of $12.14 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 7.20 and a beta of 1.67. TopBuild Corp. has a 1-year low of $266.26 and a 1-year high of $461.49. The company’s 50-day moving average is $432.32 and its 200 day moving average is $403.76.

TopBuild (NYSE:BLD) last released its earnings results on Tuesday, November 4th. The construction company reported $5.36 EPS for the quarter, beating analysts’ consensus estimates of $5.22 by $0.14. TopBuild had a return on equity of 27.10% and a net margin of 10.84%.The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the firm posted $5.68 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Research analysts forecast that TopBuild Corp. will post 20.97 EPS for the current 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.