Envestnet Asset Management Inc. Reduces Stake in TopBuild Corp. $BLD

Envestnet Asset Management Inc. decreased its holdings in shares of TopBuild Corp. (NYSE:BLD) by 5.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,127 shares of the construction company’s stock after selling 1,909 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.12% of TopBuild worth $12,948,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BLD. AQR Capital Management LLC lifted its position in TopBuild by 48.2% during the 1st quarter. AQR Capital Management LLC now owns 2,573 shares of the construction company’s stock worth $774,000 after acquiring an additional 837 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of TopBuild by 23.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,176 shares of the construction company’s stock worth $381,000 after buying an additional 226 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of TopBuild by 11.0% in the second quarter. Ritholtz Wealth Management now owns 1,714 shares of the construction company’s stock valued at $555,000 after buying an additional 170 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in TopBuild by 14.8% during the second quarter. Allianz Asset Management GmbH now owns 16,681 shares of the construction company’s stock worth $5,400,000 after acquiring an additional 2,148 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in TopBuild in the second quarter worth $3,069,000. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

TopBuild Stock Performance

Shares of BLD stock opened at $550.81 on Tuesday. The company has a current ratio of 2.90, a quick ratio of 2.45 and a debt-to-equity ratio of 1.26. The company has a market cap of $15.46 billion, a PE ratio of 27.96, a P/E/G ratio of 9.04 and a beta of 1.70. The company’s fifty day simple moving average is $466.75 and its 200-day simple moving average is $438.47. TopBuild Corp. has a 52 week low of $266.26 and a 52 week high of $555.85.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. DA Davidson reiterated a “buy” rating and issued a $485.00 price objective on shares of TopBuild in a research note on Wednesday, December 10th. Wells Fargo & Company increased their target price on shares of TopBuild from $540.00 to $600.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Weiss Ratings raised TopBuild from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Royal Bank Of Canada began coverage on TopBuild in a research note on Thursday, November 20th. They issued a “sector perform” rating and a $410.00 price objective for the company. Finally, Jefferies Financial Group boosted their target price on TopBuild from $518.00 to $536.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $443.73.

TopBuild Company 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.