Allspring Global Investments Holdings LLC Invests $109.45 Million in TopBuild Corp. $BLD

Allspring Global Investments Holdings LLC bought a new position in TopBuild Corp. (NYSE:BLD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 318,912 shares of the construction company’s stock, valued at approximately $109,447,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Aberdeen Group plc boosted its position in shares of TopBuild by 0.7% in the second quarter. Aberdeen Group plc now owns 34,299 shares of the construction company’s stock worth $11,104,000 after buying an additional 253 shares during the period. Blue Trust Inc. boosted its position in shares of TopBuild by 21.7% in the second quarter. Blue Trust Inc. now owns 224 shares of the construction company’s stock worth $73,000 after buying an additional 40 shares during the period. Callan Family Office LLC acquired a new stake in shares of TopBuild in the second quarter worth $337,000. Kingswood Wealth Advisors LLC boosted its position in shares of TopBuild by 3.3% in the second quarter. Kingswood Wealth Advisors LLC now owns 1,111 shares of the construction company’s stock worth $360,000 after buying an additional 36 shares during the period. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of TopBuild by 1.7% during the second quarter. KLP Kapitalforvaltning AS now owns 6,100 shares of the construction company’s stock worth $1,975,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

TopBuild Price Performance

NYSE BLD opened at $424.43 on Tuesday. TopBuild Corp. has a fifty-two week low of $266.26 and a fifty-two week high of $445.74. The stock’s 50-day moving average is $416.28 and its two-hundred day moving average is $350.62. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.83 and a quick ratio of 2.29. The firm has a market cap of $11.94 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 5.57 and a beta of 1.66.

TopBuild (NYSE:BLD) last posted its earnings results on Tuesday, August 5th. The construction company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.07 by $0.24. TopBuild had a return on equity of 28.32% and a net margin of 11.40%.The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the company earned $5.42 earnings per share. The business’s revenue was down 5.0% compared to the same quarter last year. TopBuild has set its FY 2025 guidance at EPS. On average, analysts anticipate that TopBuild Corp. will post 20.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Benchmark lifted their price objective on TopBuild from $375.00 to $444.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price objective on TopBuild from $344.00 to $398.00 and gave the company an “overweight” rating in a research report on Wednesday, July 9th. The Goldman Sachs Group lifted their price objective on TopBuild from $450.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Loop Capital lifted their price objective on TopBuild from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Finally, Evercore ISI lifted their price objective on TopBuild from $424.00 to $449.00 and gave the company an “in-line” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, TopBuild has a consensus rating of “Moderate Buy” and an average target price of $402.91.

Insider Buying and Selling

In other news, VP Luis Francisco Machado sold 990 shares of TopBuild stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $415.02, for a total value of $410,869.80. Following the transaction, the vice president directly owned 10,349 shares in the company, valued at approximately $4,295,041.98. The trade was a 8.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert M. Buck sold 7,350 shares of TopBuild stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $415.19, for a total value of $3,051,646.50. Following the completion of the transaction, the chief executive officer owned 73,225 shares in the company, valued at $30,402,287.75. The trade was a 9.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,663 shares of company stock valued at $5,709,488 in the last three months. 0.43% of the stock is currently owned by corporate insiders.

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.