State of New Jersey Common Pension Fund D Cuts Stock Holdings in TopBuild Corp. (NYSE:BLD)

State of New Jersey Common Pension Fund D reduced its stake in shares of TopBuild Corp. (NYSE:BLD) by 35.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,657 shares of the construction company’s stock after selling 6,342 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in TopBuild were worth $4,491,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew 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 worth $74,228,000 after buying an additional 25,973 shares during the period. Forge First Asset Management Inc. acquired a new position in TopBuild during the first quarter worth about $16,158,000. Nordea Investment Management AB grew 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 worth $12,825,000 after buying an additional 28,395 shares during the period. Norges Bank acquired a new position in TopBuild during the fourth quarter worth about $154,983,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew 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 worth $140,993,000 after buying an additional 130,563 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.

TopBuild Stock Up 1.4 %

Shares of NYSE BLD opened at $392.02 on Tuesday. TopBuild Corp. has a 1 year low of $217.08 and a 1 year high of $495.68. The firm’s 50 day moving average price is $405.17 and its 200 day moving average price is $407.19. The firm has a market cap of $12.47 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 2.27 and a beta of 1.77. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.82 and a current ratio of 2.34.

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

Wall Street Analyst Weigh In

BLD has been the topic of several recent analyst reports. StockNews.com lowered shares of TopBuild from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Evercore ISI lowered their price target on shares of TopBuild from $555.00 to $489.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Jefferies Financial Group increased their price target on shares of TopBuild from $486.00 to $536.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Truist Financial lowered their price target on shares of TopBuild from $410.00 to $395.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Finally, Stephens lowered their price target on shares of TopBuild from $435.00 to $400.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TopBuild has a consensus rating of “Moderate Buy” and a consensus target price of $449.00.

TopBuild Profile

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.