TopBuild Corp. $BLD Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its position in TopBuild Corp. (NYSE:BLD) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,728 shares of the construction company’s stock after selling 1,570 shares during the period. California Public Employees Retirement System owned approximately 0.21% of TopBuild worth $20,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Capital Research Global Investors lifted its holdings in shares of TopBuild by 2.8% during the fourth quarter. Capital Research Global Investors now owns 3,594,131 shares of the construction company’s stock worth $1,499,500,000 after purchasing an additional 97,247 shares during the period. Capital International Investors increased its holdings in TopBuild by 71.1% in the 4th quarter. Capital International Investors now owns 1,518,093 shares of the construction company’s stock worth $633,346,000 after buying an additional 630,857 shares during the period. Capital World Investors raised its position in TopBuild by 0.9% during the 4th quarter. Capital World Investors now owns 872,309 shares of the construction company’s stock worth $363,919,000 after buying an additional 7,735 shares during the last quarter. Bank of America Corp DE raised its position in TopBuild by 14.8% during the 2nd quarter. Bank of America Corp DE now owns 847,436 shares of the construction company’s stock worth $274,349,000 after buying an additional 109,572 shares during the last quarter. Finally, Boston Partners lifted its stake in TopBuild by 1.0% during the 3rd quarter. Boston Partners now owns 781,561 shares of the construction company’s stock valued at $305,662,000 after acquiring an additional 7,400 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

TopBuild Stock Performance

BLD stock opened at $354.53 on Thursday. TopBuild Corp. has a 52-week low of $321.67 and a 52-week high of $559.47. The company has a quick ratio of 1.41, a current ratio of 2.00 and a debt-to-equity ratio of 1.16. The firm has a market cap of $9.94 billion, a P/E ratio of 19.92, a PEG ratio of 4.80 and a beta of 1.80. The company’s 50-day simple moving average is $391.10 and its 200-day simple moving average is $422.03.

TopBuild (NYSE:BLD) last issued its quarterly earnings results on Tuesday, May 5th. The construction company reported $3.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.11. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.41 billion. TopBuild had a return on equity of 23.53% and a net margin of 8.95%.TopBuild’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.63 earnings per share. As a group, equities analysts forecast that TopBuild Corp. will post 18.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BLD shares. Evercore set a $360.00 target price on shares of TopBuild in a research report on Monday, June 29th. DA Davidson reiterated a “neutral” rating and set a $437.00 price objective (down from $465.00) on shares of TopBuild in a research note on Wednesday, May 6th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $496.00 price objective (up from $487.00) on shares of TopBuild in a report on Tuesday, April 21st. Weiss Ratings restated a “hold (c)” rating on shares of TopBuild in a research note on Tuesday, June 9th. Finally, Loop Capital lowered TopBuild from a “buy” rating to a “hold” rating and set a $485.00 target price on the stock. in a report on Wednesday, May 6th. One equities 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $465.00.

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.