Principal Financial Group Inc. Sells 24,462 Shares of TopBuild Corp. $BLD

Principal Financial Group Inc. cut its stake in shares of TopBuild Corp. (NYSE:BLD) by 27.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,062 shares of the construction company’s stock after selling 24,462 shares during the period. Principal Financial Group Inc. owned 0.23% of TopBuild worth $25,821,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners increased its holdings in TopBuild by 102.2% during the 2nd quarter. Boston Partners now owns 774,161 shares of the construction company’s stock worth $250,872,000 after acquiring an additional 391,299 shares during the period. Orion Porfolio Solutions LLC grew its position in shares of TopBuild by 7,961.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 395,747 shares of the construction company’s stock valued at $128,119,000 after purchasing an additional 390,838 shares in the last quarter. Norges Bank bought a new position in shares of TopBuild in the second quarter worth $110,238,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of TopBuild in the second quarter worth $109,447,000. Finally, Nordea Investment Management AB boosted its stake in TopBuild by 228.6% during the third quarter. Nordea Investment Management AB now owns 278,803 shares of the construction company’s stock valued at $107,873,000 after buying an additional 193,969 shares during the period. 95.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other TopBuild news, VP Luis Francisco Machado sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $450.40, for a total value of $450,400.00. Following the completion of the sale, the vice president owned 9,349 shares in the company, valued at approximately $4,210,789.60. This trade represents a 9.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.43% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Vertical Research started coverage on TopBuild in a research note on Tuesday, October 21st. They issued a “buy” rating and a $517.96 target price on the stock. Wells Fargo & Company upped their price objective on shares of TopBuild from $500.00 to $540.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada began coverage on shares of TopBuild in a research note on Thursday, November 20th. They issued a “sector perform” rating and a $410.00 target price on the stock. Weiss Ratings raised shares of TopBuild from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Finally, DA Davidson reaffirmed a “buy” rating and set a $485.00 price objective on shares of TopBuild in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, TopBuild has a consensus rating of “Moderate Buy” and an average price target of $439.73.

TopBuild Trading Up 4.7%

Shares of BLD opened at $517.35 on Friday. The stock has a market capitalization of $14.52 billion, a P/E ratio of 26.26, a PEG ratio of 8.10 and a beta of 1.70. TopBuild Corp. has a twelve month low of $266.26 and a twelve month high of $521.10. The company has a quick ratio of 2.45, a current ratio of 2.90 and a debt-to-equity ratio of 1.26. The firm has a fifty day simple moving average of $454.98 and a two-hundred day simple moving average of $430.92.

TopBuild (NYSE:BLD) last issued its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.36 EPS for the quarter, beating the consensus estimate of $5.22 by $0.14. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.38 billion. TopBuild had a net margin of 10.84% and a return on equity of 27.10%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.68 earnings per share. On average, research analysts anticipate that TopBuild Corp. will post 20.97 EPS for the current year.

TopBuild Company Profile

TopBuild Corp. (NYSE: BLD) is a leading installer and distributor of insulation and building material products serving primarily the U.S. construction market. Headquartered in Daytona Beach, Florida, the company was formed in 2011 as a spin-off from ABF Freight System and has since grown through a combination of organic expansion and targeted acquisitions. TopBuild’s core mission is to enhance energy efficiency and comfort in new residential and light commercial construction projects by providing comprehensive insulation solutions and related services.

The company operates through two main segments.