Commonwealth Equity Services LLC Increases Position in TopBuild Corp. (NYSE:BLD)

Commonwealth Equity Services LLC increased its stake in shares of TopBuild Corp. (NYSE:BLD) by 21.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,404 shares of the construction company’s stock after buying an additional 430 shares during the quarter. Commonwealth Equity Services LLC’s holdings in TopBuild were worth $926,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BLD. Lazard Asset Management LLC lifted its position in TopBuild by 18.2% during the first quarter. Lazard Asset Management LLC now owns 168,423 shares of the construction company’s stock valued at $74,228,000 after purchasing an additional 25,973 shares during the period. Forge First Asset Management Inc. acquired a new position in TopBuild during the first quarter valued at $16,158,000. Nordea Investment Management AB lifted its position in TopBuild by 4,820.9% during the first quarter. Nordea Investment Management AB now owns 28,984 shares of the construction company’s stock valued at $12,825,000 after purchasing an additional 28,395 shares during the period. Norges Bank acquired a new position in TopBuild during the fourth quarter valued at $154,983,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in TopBuild by 53.0% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 376,725 shares of the construction company’s stock valued at $140,993,000 after purchasing an additional 130,563 shares during the period. 95.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on BLD shares. StockNews.com downgraded shares of TopBuild from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Jefferies Financial Group upped their price objective on shares of TopBuild from $486.00 to $536.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. DA Davidson decreased their price objective on shares of TopBuild from $470.00 to $460.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Stephens decreased their price objective on shares of TopBuild from $435.00 to $400.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Finally, Truist Financial decreased their price objective on shares of TopBuild from $410.00 to $395.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $449.00.

TopBuild Stock Up 2.7 %

BLD stock opened at $402.78 on Wednesday. The stock has a market capitalization of $12.82 billion, a P/E ratio of 20.30, a P/E/G ratio of 2.27 and a beta of 1.77. The firm has a 50-day simple moving average of $405.17 and a 200-day simple moving average of $407.19. The company has a quick ratio of 1.82, a current ratio of 2.34 and a debt-to-equity ratio of 0.57. TopBuild Corp. has a 52 week low of $217.08 and a 52 week high of $495.68.

TopBuild (NYSE:BLD) last released its earnings results on Tuesday, August 6th. The construction company reported $5.42 EPS for the quarter, missing analysts’ consensus estimates of $5.68 by ($0.26). TopBuild had a return on equity of 25.72% and a net margin of 11.74%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the firm earned $5.25 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts forecast that TopBuild Corp. will post 21.18 earnings per share for the current fiscal year.

About TopBuild

TopBuild Corp., together with its subsidiaries, engages in the installation and distribution of insulation and other building material products to the construction industry. The company operates in two segments, Installation and Specialty Distribution. It provides insulation products and accessories, glass and windows, rain gutters, garage doors, fireplaces, roofing materials, closet shelving, and other products.