Morgan Stanley boosted its position in shares of TopBuild Corp. (NYSE:BLD) by 62.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 270,982 shares of the construction company’s stock after buying an additional 104,320 shares during the period. Morgan Stanley owned about 0.72% of TopBuild Corp. worth $12,736,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in TopBuild Corp. by 0.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,311 shares of the construction company’s stock worth $250,000 after buying an additional 49 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in TopBuild Corp. by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the construction company’s stock worth $724,000 after buying an additional 100 shares in the last quarter. UBS Group AG raised its stake in TopBuild Corp. by 1.7% in the first quarter. UBS Group AG now owns 8,197 shares of the construction company’s stock worth $386,000 after buying an additional 137 shares in the last quarter. Alpha Windward LLC raised its stake in TopBuild Corp. by 1.4% in the first quarter. Alpha Windward LLC now owns 12,720 shares of the construction company’s stock worth $598,000 after buying an additional 180 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in TopBuild Corp. by 8.5% in the first quarter. Envestnet Asset Management Inc. now owns 5,061 shares of the construction company’s stock worth $239,000 after buying an additional 395 shares in the last quarter. Hedge funds and other institutional investors own 93.73% of the company’s stock.
TopBuild Corp. (NYSE:BLD) traded up 0.03% during trading on Wednesday, hitting $58.34. The company had a trading volume of 286,377 shares. TopBuild Corp. has a 52-week low of $28.81 and a 52-week high of $59.34. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 32.34 and a beta of 0.63. The firm’s 50 day moving average is $54.07 and its 200-day moving average is $48.94.
TopBuild Corp. (NYSE:BLD) last released its earnings results on Tuesday, August 8th. The construction company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.09. The firm had revenue of $474.50 million for the quarter, compared to analysts’ expectations of $477.72 million. TopBuild Corp. had a net margin of 3.73% and a return on equity of 9.09%. TopBuild Corp.’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. On average, equities analysts forecast that TopBuild Corp. will post $2.79 earnings per share for the current year.
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A number of analysts have weighed in on the company. Zacks Investment Research upgraded TopBuild Corp. from a “hold” rating to a “strong-buy” rating and set a $67.00 target price for the company in a report on Thursday, August 10th. KeyCorp reiterated an “overweight” rating and set a $59.00 price objective (up previously from $56.00) on shares of TopBuild Corp. in a report on Monday, June 26th. TheStreet upgraded TopBuild Corp. from a “c” rating to a “b-” rating in a report on Friday, June 16th. Finally, Instinet increased their price objective on TopBuild Corp. from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, May 10th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. TopBuild Corp. currently has an average rating of “Buy” and an average target price of $54.60.
TopBuild Corp. Company Profile
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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