California Public Employees Retirement System Sells 3,381 Shares of TopBuild Corp. (NYSE:BLD)

California Public Employees Retirement System reduced its holdings in TopBuild Corp. (NYSE:BLD - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,988 shares of the construction company's stock after selling 3,381 shares during the quarter. California Public Employees Retirement System owned about 0.20% of TopBuild worth $18,365,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in TopBuild in the third quarter worth about $45,000. Holocene Advisors LP purchased a new position in shares of TopBuild in the 3rd quarter valued at approximately $3,600,000. Point72 Asset Management L.P. boosted its position in shares of TopBuild by 0.5% during the third quarter. Point72 Asset Management L.P. now owns 91,121 shares of the construction company's stock valued at $37,069,000 after purchasing an additional 473 shares in the last quarter. Point72 DIFC Ltd grew its stake in TopBuild by 1.8% in the third quarter. Point72 DIFC Ltd now owns 2,535 shares of the construction company's stock worth $1,031,000 after purchasing an additional 46 shares during the period. Finally, Royal London Asset Management Ltd. raised its holdings in TopBuild by 1.7% in the third quarter. Royal London Asset Management Ltd. now owns 100,171 shares of the construction company's stock worth $40,751,000 after purchasing an additional 1,684 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BLD. Benchmark decreased their price target on shares of TopBuild from $445.00 to $375.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group cut their price target on TopBuild from $475.00 to $410.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Loop Capital dropped their target price on TopBuild from $405.00 to $390.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft assumed coverage on TopBuild in a research report on Tuesday, April 1st. They issued a "buy" rating and a $356.00 price target for the company. Finally, Evercore ISI downgraded shares of TopBuild from an "outperform" rating to an "inline" rating and dropped their target price for the stock from $443.00 to $381.00 in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $398.56.

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TopBuild Stock Performance

TopBuild stock traded up $21.20 during midday trading on Wednesday, reaching $297.13. 525,319 shares of the company traded hands, compared to its average volume of 317,757. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 1.82 and a beta of 1.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.01 and a quick ratio of 1.49. The business has a 50 day moving average of $308.91 and a two-hundred day moving average of $342.58. TopBuild Corp. has a 12 month low of $266.26 and a 12 month high of $495.68.

TopBuild (NYSE:BLD - Get Free Report) last announced its earnings results on Tuesday, February 25th. The construction company reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.07 by $0.06. TopBuild had a return on equity of 26.40% and a net margin of 11.66%. The business had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.31 billion. During the same period last year, the firm posted $4.69 earnings per share. The business's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, research analysts predict that TopBuild Corp. will post 20.97 earnings per share for the current year.

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.