First Trust Advisors LP lessened its holdings in TopBuild Corp (NYSE:BLD) by 32.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,039 shares of the construction company’s stock after selling 4,849 shares during the quarter. First Trust Advisors LP’s holdings in TopBuild were worth $968,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in BLD. Westfield Capital Management Co. LP boosted its holdings in TopBuild by 67.6% in the second quarter. Westfield Capital Management Co. LP now owns 909,408 shares of the construction company’s stock worth $75,263,000 after purchasing an additional 366,828 shares during the period. Invesco Ltd. lifted its stake in TopBuild by 45.1% in the second quarter. Invesco Ltd. now owns 587,216 shares of the construction company’s stock valued at $48,598,000 after buying an additional 182,591 shares during the last quarter. Morgan Stanley lifted its stake in TopBuild by 364.8% in the second quarter. Morgan Stanley now owns 218,912 shares of the construction company’s stock valued at $18,117,000 after buying an additional 171,813 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in TopBuild in the second quarter valued at $12,667,000. Finally, Lodge Hill Capital LLC lifted its stake in TopBuild by 257.5% in the second quarter. Lodge Hill Capital LLC now owns 145,000 shares of the construction company’s stock valued at $12,000,000 after buying an additional 104,439 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Gerald Volas sold 23,988 shares of TopBuild stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $107.97, for a total transaction of $2,589,984.36. Following the sale, the chief executive officer now directly owns 71,017 shares in the company, valued at $7,667,705.49. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John S. Peterson sold 568 shares of TopBuild stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $109.74, for a total transaction of $62,332.32. Following the sale, the chief financial officer now owns 8,050 shares in the company, valued at $883,407. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,311 shares of company stock worth $3,167,269. Company insiders own 2.30% of the company’s stock.
TopBuild (NYSE:BLD) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.14. TopBuild had a net margin of 7.06% and a return on equity of 16.15%. The business had revenue of $682.30 million for the quarter, compared to analysts’ expectations of $673.76 million. During the same period in the previous year, the business earned $1.23 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. As a group, analysts predict that TopBuild Corp will post 5.38 EPS for the current fiscal year.
BLD has been the topic of a number of recent research reports. Zelman & Associates cut TopBuild from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Buckingham Research raised their target price on TopBuild from $101.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Zacks Investment Research upgraded TopBuild from a “hold” rating to a “strong-buy” rating and set a $125.00 target price on the stock in a research note on Tuesday, November 5th. Deutsche Bank initiated coverage on TopBuild in a research note on Wednesday, November 27th. They issued a “buy” rating and a $129.00 target price on the stock. Finally, SunTrust Banks raised their target price on TopBuild from $86.00 to $100.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $111.80.
TopBuild Company Profile
TopBuild Corp. engages in the installation, distribution, and sale of insulation and other building products to the United States construction industry. The company operates in two segments, Installation and Distribution. It offers rain gutters, garage doors, fireplaces, fireproofing and firestopping products, shower enclosures, closet shelves, accessories, and other building products; and residential insulation services.
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