Raymond James & Associates Boosts Stake in TopBuild Corp. (NYSE:BLD)

Raymond James & Associates lifted its stake in TopBuild Corp. (NYSE:BLD) by 15.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,019 shares of the construction company’s stock after purchasing an additional 2,794 shares during the quarter. Raymond James & Associates owned about 0.07% of TopBuild worth $7,867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in BLD. Millennium Management LLC boosted its position in shares of TopBuild by 230.1% in the 4th quarter. Millennium Management LLC now owns 864,237 shares of the construction company’s stock worth $135,244,000 after purchasing an additional 602,416 shares in the last quarter. Capital International Investors boosted its position in shares of TopBuild by 135.6% in the 1st quarter. Capital International Investors now owns 913,930 shares of the construction company’s stock worth $165,778,000 after purchasing an additional 526,053 shares in the last quarter. Norges Bank bought a new stake in shares of TopBuild in the 4th quarter worth approximately $70,298,000. William Blair Investment Management LLC bought a new stake in shares of TopBuild in the 3rd quarter worth approximately $95,147,000. Finally, Ameriprise Financial Inc. boosted its position in shares of TopBuild by 65.7% in the 1st quarter. Ameriprise Financial Inc. now owns 348,157 shares of the construction company’s stock worth $72,465,000 after purchasing an additional 138,058 shares in the last quarter. 95.67% of the stock is owned by institutional investors.

TopBuild Trading Up 2.5 %

Shares of BLD stock opened at $446.91 on Monday. TopBuild Corp. has a 52-week low of $184.50 and a 52-week high of $450.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.18 and a current ratio of 2.66. The firm has a market capitalization of $14.22 billion, a PE ratio of 23.12, a PEG ratio of 2.15 and a beta of 1.66. The stock has a fifty day simple moving average of $406.26 and a two-hundred day simple moving average of $338.54.

TopBuild (NYSE:BLD) last issued its quarterly earnings results on Wednesday, February 28th. The construction company reported $4.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.60 by $0.09. TopBuild had a return on equity of 27.03% and a net margin of 11.82%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business posted $4.40 EPS. TopBuild’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts predict that TopBuild Corp. will post 20.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. raised TopBuild from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $312.00 to $387.00 in a research report on Thursday, December 14th. Bank of America increased their price target on TopBuild from $410.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Evercore ISI increased their price target on TopBuild from $469.00 to $527.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. Truist Financial cut TopBuild from a “buy” rating to a “hold” rating and increased their price target for the company from $290.00 to $410.00 in a report on Thursday, January 4th. Finally, The Goldman Sachs Group upped their price objective on TopBuild from $419.00 to $429.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $401.40.

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.