TopBuild Corp. (NYSE:BLD) Position Reduced by Covestor Ltd

Covestor Ltd reduced its position in shares of TopBuild Corp. (NYSE:BLD) by 28.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 135 shares of the construction company’s stock after selling 53 shares during the quarter. Covestor Ltd’s holdings in TopBuild were worth $55,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of BLD. Allspring Global Investments Holdings LLC acquired a new position in TopBuild during the first quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of TopBuild in the 2nd quarter worth approximately $30,000. Headlands Technologies LLC bought a new stake in shares of TopBuild in the 1st quarter worth approximately $56,000. UMB Bank n.a. boosted its holdings in TopBuild by 87.3% during the third quarter. UMB Bank n.a. now owns 133 shares of the construction company’s stock worth $54,000 after buying an additional 62 shares in the last quarter. Finally, Blue Trust Inc. grew its position in TopBuild by 27.4% in the second quarter. Blue Trust Inc. now owns 293 shares of the construction company’s stock worth $113,000 after buying an additional 63 shares during the last quarter. Institutional investors own 95.67% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on BLD. StockNews.com upgraded TopBuild from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. DA Davidson reduced their target price on TopBuild from $460.00 to $450.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Truist Financial cut their price objective on TopBuild from $410.00 to $395.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Jefferies Financial Group decreased their target price on shares of TopBuild from $525.00 to $515.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, Evercore ISI cut their price target on shares of TopBuild from $491.00 to $443.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, TopBuild currently has an average rating of “Moderate Buy” and a consensus price target of $440.44.

TopBuild Stock Up 1.1 %

TopBuild stock opened at $363.22 on Friday. TopBuild Corp. has a twelve month low of $287.62 and a twelve month high of $495.68. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.49 and a current ratio of 2.01. The firm has a market cap of $10.71 billion, a PE ratio of 18.33, a P/E/G ratio of 2.26 and a beta of 1.79. The firm’s 50 day moving average price is $383.75 and its two-hundred day moving average price is $398.30.

TopBuild (NYSE:BLD) last posted its quarterly earnings results on Tuesday, November 5th. The construction company reported $5.68 earnings per share for the quarter, topping analysts’ consensus estimates of $5.62 by $0.06. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. TopBuild had a net margin of 11.66% and a return on equity of 26.40%. TopBuild’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $5.43 earnings per share. On average, research analysts predict that TopBuild Corp. will post 21.06 EPS for the current fiscal year.

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.