First Trust Advisors LP Sells 52,547 Shares of TopBuild Corp. (BLD)
First Trust Advisors LP trimmed its holdings in shares of TopBuild Corp. (NYSE:BLD) by 72.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,712 shares of the construction company’s stock after selling 52,547 shares during the period. First Trust Advisors LP owned about 0.05% of TopBuild Corp. worth $1,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Citadel Advisors LLC bought a new position in TopBuild Corp. during the 1st quarter worth about $209,000. Vanguard Group Inc. grew its holdings in TopBuild Corp. by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 3,287,047 shares of the construction company’s stock worth $154,490,000 after acquiring an additional 139,066 shares in the last quarter. Bank of America Corp DE grew its holdings in TopBuild Corp. by 243.0% during the 1st quarter. Bank of America Corp DE now owns 223,578 shares of the construction company’s stock worth $10,508,000 after acquiring an additional 158,394 shares in the last quarter. Principal Financial Group Inc. grew its holdings in TopBuild Corp. by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 311,499 shares of the construction company’s stock worth $14,640,000 after acquiring an additional 9,147 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in TopBuild Corp. by 2.8% during the 1st quarter. Geode Capital Management LLC now owns 296,251 shares of the construction company’s stock worth $13,923,000 after acquiring an additional 8,086 shares in the last quarter. Institutional investors own 92.01% of the company’s stock.
Several research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of TopBuild Corp. from a “hold” rating to a “strong-buy” rating and set a $67.00 target price on the stock in a report on Thursday, August 10th. BidaskClub cut shares of TopBuild Corp. from a “strong-buy” rating to a “buy” rating in a report on Friday, August 25th. KeyCorp reiterated an “overweight” rating and set a $59.00 target price (up from $56.00) on shares of TopBuild Corp. in a report on Monday, June 26th. Finally, TheStreet upgraded shares of TopBuild Corp. from a “c” rating to a “b-” rating in a report on Friday, June 16th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. TopBuild Corp. presently has a consensus rating of “Buy” and an average target price of $54.60.
In other news, CEO Gerald Volas sold 44,356 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $56.81, for a total transaction of $2,519,864.36. Following the completion of the transaction, the chief executive officer now directly owns 149,201 shares of the company’s stock, valued at $8,476,108.81. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.
Shares of TopBuild Corp. (NYSE BLD) opened at 60.70 on Thursday. TopBuild Corp. has a 12-month low of $28.81 and a 12-month high of $61.05. The stock has a 50 day moving average of $58.99 and a 200-day moving average of $58.99. The company has a market capitalization of $2.21 billion, a PE ratio of 33.65 and a beta of 0.61.
TopBuild Corp. (NYSE:BLD) last announced its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.09. TopBuild Corp. had a return on equity of 9.09% and a net margin of 3.73%. The business had revenue of $474.50 million during the quarter, compared to the consensus estimate of $477.72 million. During the same period in the previous year, the company posted $0.43 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. Analysts predict that TopBuild Corp. will post $2.80 earnings per share for the current fiscal year.
About TopBuild Corp.
TopBuild Corp. installs and distributes insulation products to the United States construction industry. The Company operates through two segments: Installation (TruTeam) and Distribution (Service Partners). Its Installation segment principally includes the sales and installation of insulation and other building products.
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