Bank of New York Mellon Corp Sells 14,603 Shares of TopBuild Corp. $BLD

Bank of New York Mellon Corp decreased its position in shares of TopBuild Corp. (NYSE:BLD) by 7.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,694 shares of the construction company’s stock after selling 14,603 shares during the period. Bank of New York Mellon Corp owned about 0.64% of TopBuild worth $63,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BLD. AQR Capital Management LLC increased its stake in shares of TopBuild by 48.2% in the 1st quarter. AQR Capital Management LLC now owns 2,573 shares of the construction company’s stock valued at $774,000 after purchasing an additional 837 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in TopBuild by 106.0% in the second 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 last quarter. First Trust Advisors LP raised its stake in TopBuild by 8.1% during the second quarter. First Trust Advisors LP now owns 67,835 shares of the construction company’s stock worth $21,961,000 after acquiring an additional 5,093 shares in the last quarter. Marshall Wace LLP bought a new position in shares of TopBuild in the second quarter worth about $489,000. Finally, Federated Hermes Inc. lifted its holdings in shares of TopBuild by 10.7% in the second quarter. Federated Hermes Inc. now owns 6,759 shares of the construction company’s stock worth $2,188,000 after acquiring an additional 654 shares during the last quarter. 95.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of TopBuild from $525.00 to $475.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Loop Capital downgraded shares of TopBuild from a “buy” rating to a “hold” rating and set a $485.00 price objective for the company. in a research note on Wednesday, May 6th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $496.00 target price (up from $487.00) on shares of TopBuild in a research report on Tuesday, April 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TopBuild in a research note on Tuesday, June 9th. Finally, UBS Group set a $440.00 price target on shares of TopBuild in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $465.00.

TopBuild Stock Performance

NYSE:BLD opened at $354.53 on Thursday. The stock’s 50-day moving average is $391.10 and its 200-day moving average is $422.03. TopBuild Corp. has a 1-year low of $321.67 and a 1-year high of $559.47. The company has a current ratio of 2.00, a quick ratio of 1.41 and a debt-to-equity ratio of 1.16. The stock has a market cap of $9.94 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 4.80 and a beta of 1.80.

TopBuild (NYSE:BLD) last issued its quarterly earnings data on Tuesday, May 5th. The construction company reported $3.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.11. TopBuild had a net margin of 8.95% and a return on equity of 23.53%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the business earned $4.63 EPS. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. Equities research analysts anticipate that TopBuild Corp. will post 18.07 earnings per share 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.