DnB Asset Management AS Cuts Stock Holdings in TopBuild Corp. (NYSE:BLD)

DnB Asset Management AS lowered its position in shares of TopBuild Corp. (NYSE:BLDGet Rating) by 0.9% in the second quarter, Holdings Channel.com reports. The fund owned 40,505 shares of the construction company’s stock after selling 364 shares during the quarter. DnB Asset Management AS’s holdings in TopBuild were worth $6,771,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BLD. Covestor Ltd acquired a new position in TopBuild in the 4th quarter valued at $36,000. CWM LLC raised its position in shares of TopBuild by 43.9% in the first quarter. CWM LLC now owns 269 shares of the construction company’s stock valued at $49,000 after buying an additional 82 shares during the last quarter. Tompkins Financial Corp purchased a new position in shares of TopBuild in the first quarter worth about $70,000. KRS Capital Management LLC acquired a new position in TopBuild during the fourth quarter worth about $116,000. Finally, Quent Capital LLC purchased a new stake in TopBuild during the 4th quarter valued at about $135,000. Hedge funds and other institutional investors own 97.07% of the company’s stock.

TopBuild Trading Down 1.2 %

Shares of BLD stock opened at $168.54 on Monday. The company has a 50-day moving average of $189.63 and a two-hundred day moving average of $188.80. The firm has a market cap of $5.46 billion, a PE ratio of 12.84 and a beta of 1.58. TopBuild Corp. has a 1-year low of $150.71 and a 1-year high of $284.07. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.69 and a quick ratio of 1.15.

TopBuild (NYSE:BLDGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The construction company reported $4.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.66. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.18 billion. TopBuild had a net margin of 9.93% and a return on equity of 27.78%. The firm’s quarterly revenue was up 52.7% on a year-over-year basis. During the same quarter last year, the company posted $2.76 EPS. On average, analysts predict that TopBuild Corp. will post 15.78 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BLD shares. JPMorgan Chase & Co. decreased their target price on shares of TopBuild from $209.00 to $190.00 in a research note on Friday, July 15th. Truist Financial upped their target price on TopBuild from $225.00 to $242.00 in a report on Wednesday, August 3rd. StockNews.com upgraded TopBuild from a “hold” rating to a “buy” rating in a report on Wednesday, September 14th. Zelman & Associates lowered shares of TopBuild from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of TopBuild in a research note on Wednesday, August 17th. They set a “hold” rating and a $236.00 target price on the stock. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.50.

TopBuild Company Profile

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TopBuild Corp., together with its subsidiaries, engages in the installation and distribution of insulation and other building 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, afterpaint products, fireproofing products, garage doors, fireplaces, closet shelving, roofing materials, and other products; and insulation installation services.

Further Reading

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Institutional Ownership by Quarter for TopBuild (NYSE:BLD)

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