Louisiana State Employees Retirement System Sells 600 Shares of TopBuild Corp. (NYSE:BLD)

Louisiana State Employees Retirement System lessened its position in shares of TopBuild Corp. (NYSE:BLD) by 6.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,300 shares of the construction company’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in TopBuild were worth $3,377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BLD. Vanguard Group Inc. boosted its stake in TopBuild by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,990,027 shares of the construction company’s stock valued at $1,317,795,000 after purchasing an additional 15,965 shares during the period. Liontrust Investment Partners LLP grew its stake in shares of TopBuild by 21.1% in the second quarter. Liontrust Investment Partners LLP now owns 332,050 shares of the construction company’s stock valued at $127,929,000 after acquiring an additional 57,880 shares in the last quarter. Bank of New York Mellon Corp increased its position in TopBuild by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 261,965 shares of the construction company’s stock worth $100,927,000 after acquiring an additional 2,133 shares during the period. Lazard Asset Management LLC raised its stake in TopBuild by 18.2% in the 1st quarter. Lazard Asset Management LLC now owns 168,423 shares of the construction company’s stock worth $74,228,000 after purchasing an additional 25,973 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of TopBuild by 7.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 140,738 shares of the construction company’s stock worth $53,097,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

Analysts Set New Price Targets

BLD has been the subject of a number of analyst reports. Evercore ISI lifted their price target on shares of TopBuild from $489.00 to $491.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. DA Davidson cut their target price on TopBuild from $470.00 to $460.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Jefferies Financial Group reduced their target price on TopBuild from $525.00 to $515.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Stephens dropped their price target on TopBuild from $435.00 to $400.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, Truist Financial reduced their price objective on shares of TopBuild from $410.00 to $395.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $446.89.

TopBuild Stock Performance

TopBuild stock opened at $367.16 on Monday. The company has a quick ratio of 1.82, a current ratio of 2.34 and a debt-to-equity ratio of 0.57. The stock has a market cap of $11.68 billion, a PE ratio of 18.51, a P/E/G ratio of 2.45 and a beta of 1.77. TopBuild Corp. has a 12-month low of $217.08 and a 12-month high of $495.68. The business’s 50-day moving average price is $390.06 and its two-hundred day moving average price is $401.69.

TopBuild (NYSE:BLD) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $5.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.68 by ($0.26). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.40 billion. TopBuild had a net margin of 11.74% and a return on equity of 25.72%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $5.25 earnings per share. As a group, analysts expect that TopBuild Corp. will post 21.08 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.