Envestnet Asset Management Inc. Has $16.59 Million Stake in TopBuild Corp. (NYSE:BLD)

Envestnet Asset Management Inc. lowered its position in TopBuild Corp. (NYSE:BLD) by 18.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,059 shares of the construction company’s stock after selling 9,431 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.14% of TopBuild worth $16,589,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BLD. Thoroughbred Financial Services LLC bought a new position in TopBuild during the second quarter worth $452,000. Federated Hermes Inc. lifted its holdings in shares of TopBuild by 2.7% during the second quarter. Federated Hermes Inc. now owns 8,655 shares of the construction company’s stock worth $3,335,000 after buying an additional 227 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of TopBuild by 7.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 140,738 shares of the construction company’s stock valued at $53,097,000 after acquiring an additional 10,000 shares during the period. Qsemble Capital Management LP acquired a new position in shares of TopBuild in the second quarter valued at about $494,000. Finally, ClariVest Asset Management LLC increased its position in TopBuild by 0.6% during the second quarter. ClariVest Asset Management LLC now owns 6,170 shares of the construction company’s stock worth $2,377,000 after acquiring an additional 37 shares during the period. Institutional investors own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BLD. DA Davidson dropped their price target 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 dropped their price objective on TopBuild from $435.00 to $400.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. StockNews.com raised TopBuild from a “hold” rating to a “buy” rating in a report on Monday. Evercore ISI dropped their price target on TopBuild from $555.00 to $489.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group increased their price objective on shares of TopBuild from $486.00 to $536.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $449.00.

TopBuild Trading Down 0.4 %

Shares of BLD stock opened at $405.71 on Wednesday. TopBuild Corp. has a fifty-two week low of $217.08 and a fifty-two week high of $495.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.82 and a current ratio of 2.34. The stock has a 50 day simple moving average of $403.40 and a two-hundred day simple moving average of $407.09. The company has a market cap of $12.91 billion, a P/E ratio of 20.45, a PEG ratio of 2.27 and a beta of 1.77.

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