Ausbil Investment Management Ltd Reduces Stake in TopBuild Corp. $BLD

Ausbil Investment Management Ltd lowered its stake in shares of TopBuild Corp. (NYSE:BLD) by 36.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,832 shares of the construction company’s stock after selling 2,168 shares during the period. Ausbil Investment Management Ltd’s holdings in TopBuild were worth $1,599,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. AQR Capital Management LLC increased its position in TopBuild by 48.2% in the first quarter. AQR Capital Management LLC now owns 2,573 shares of the construction company’s stock worth $774,000 after buying an additional 837 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of TopBuild by 23.0% during the 2nd quarter. Cetera Investment Advisers now owns 3,389 shares of the construction company’s stock valued at $1,097,000 after buying an additional 634 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of TopBuild by 65.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 121,802 shares of the construction company’s stock valued at $39,432,000 after buying an additional 48,368 shares during the last quarter. MAI Capital Management grew its stake in shares of TopBuild by 28.3% during the 2nd quarter. MAI Capital Management now owns 118 shares of the construction company’s stock worth $38,000 after acquiring an additional 26 shares during the period. Finally, Legal & General Group Plc increased its holdings in TopBuild by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 46,868 shares of the construction company’s stock worth $15,173,000 after acquiring an additional 302 shares during the last quarter. Institutional investors own 95.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BLD. Weiss Ratings cut TopBuild from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 27th. Zacks Research downgraded shares of TopBuild from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 3rd. DA Davidson dropped their price target on shares of TopBuild from $485.00 to $465.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Royal Bank Of Canada lifted their price objective on shares of TopBuild from $410.00 to $433.00 and gave the company a “sector perform” rating in a research note on Friday, February 27th. Finally, Jefferies Financial Group boosted their target price on shares of TopBuild from $518.00 to $536.00 and gave the company a “buy” rating in a report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $437.93.

TopBuild Price Performance

BLD stock opened at $347.19 on Friday. The firm has a 50 day moving average of $454.55 and a 200-day moving average of $437.63. The firm has a market capitalization of $9.77 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 4.58 and a beta of 1.72. TopBuild Corp. has a 12 month low of $266.26 and a 12 month high of $559.47. The company has a current ratio of 1.94, a quick ratio of 1.34 and a debt-to-equity ratio of 1.21.

TopBuild (NYSE:BLD) last posted its earnings results on Thursday, February 26th. The construction company reported $4.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.39 by $0.11. TopBuild had a net margin of 9.65% and a return on equity of 25.66%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company posted $5.13 EPS. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, sell-side analysts predict that TopBuild Corp. will post 20.97 earnings per share for the current fiscal 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.