Caxton Associates LLP Takes Position in TopBuild Corp. $BLD

Caxton Associates LLP bought a new stake in TopBuild Corp. (NYSE:BLD) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,463 shares of the construction company’s stock, valued at approximately $1,217,000.

A number of other hedge funds have also recently added to or reduced their stakes in BLD. AQR Capital Management LLC lifted its stake in TopBuild by 48.2% in the first 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 last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of TopBuild by 106.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 239 shares of the construction company’s stock valued at $77,000 after acquiring an additional 123 shares during the period. First Trust Advisors LP increased its holdings 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 valued at $21,961,000 after acquiring an additional 5,093 shares during the period. Marshall Wace LLP acquired a new position in shares of TopBuild in the 2nd quarter valued at $489,000. Finally, Federated Hermes Inc. raised its position in TopBuild by 10.7% in the 2nd quarter. Federated Hermes Inc. now owns 6,759 shares of the construction company’s stock valued at $2,188,000 after purchasing an additional 654 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Analysts Set New Price Targets

BLD has been the subject of a number of recent research reports. 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 note on Tuesday, April 21st. Wells Fargo & Company reduced their target price on shares of TopBuild from $525.00 to $475.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. UBS Group set a $440.00 target price on shares of TopBuild in a research note on Wednesday, May 6th. Seaport Research Partners reiterated a “neutral” rating on shares of TopBuild in a research note on Tuesday, April 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of TopBuild in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $465.00.

TopBuild Stock Performance

NYSE:BLD opened at $354.53 on Monday. The firm’s fifty day moving average price is $389.00 and its 200 day moving average price is $420.87. TopBuild Corp. has a 1-year low of $321.67 and a 1-year high of $559.47. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.00 and a quick ratio of 1.41. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 4.80 and a beta of 1.80.

TopBuild (NYSE:BLD) last announced its quarterly earnings data on Tuesday, May 5th. The construction company reported $3.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.11. The company had revenue of $1.45 billion for 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%. TopBuild’s revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.63 EPS. On average, sell-side analysts expect that TopBuild Corp. will post 18.07 EPS for the current year.

About TopBuild

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.