CIBC Private Wealth Group LLC raised its holdings in shares of TopBuild Corp. (NYSE:BLD - Free Report) by 123.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,290 shares of the construction company's stock after purchasing an additional 1,266 shares during the period. CIBC Private Wealth Group LLC's holdings in TopBuild were worth $732,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BLD. State Street Corp boosted its stake in shares of TopBuild by 3.2% during the 3rd quarter. State Street Corp now owns 1,120,029 shares of the construction company's stock worth $455,639,000 after acquiring an additional 34,911 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in TopBuild by 4.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 871,495 shares of the construction company's stock worth $271,331,000 after purchasing an additional 40,916 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of TopBuild by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 627,989 shares of the construction company's stock worth $255,526,000 after acquiring an additional 12,909 shares during the last quarter. Norges Bank acquired a new stake in TopBuild during the fourth quarter worth about $108,688,000. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of TopBuild by 4.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 292,531 shares of the construction company's stock valued at $91,076,000 after buying an additional 11,762 shares during the period. Hedge funds and other institutional investors own 95.67% of the company's stock.
Wall Street Analysts Forecast Growth
BLD has been the subject of a number of research analyst reports. Truist Financial lowered their price objective on shares of TopBuild from $395.00 to $310.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group dropped their target price on TopBuild from $475.00 to $410.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Evercore ISI cut shares of TopBuild from an "outperform" rating to an "inline" rating and cut their price objective for the stock from $443.00 to $381.00 in a report on Monday, December 16th. Benchmark reduced their price objective on TopBuild from $445.00 to $375.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Finally, Seaport Res Ptn downgraded TopBuild from a "strong-buy" rating to a "hold" rating in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $398.56.
Check Out Our Latest Research Report on BLD
TopBuild Stock Performance
Shares of BLD traded up $21.20 during midday trading on Wednesday, hitting $297.13. 525,319 shares of the stock traded hands, compared to its average volume of 317,757. TopBuild Corp. has a 1-year low of $266.26 and a 1-year high of $495.68. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.49 and a current ratio of 2.01. The firm has a market capitalization of $8.69 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.82 and a beta of 1.78. The business's 50 day moving average price is $308.91 and its two-hundred day moving average price is $342.58.
TopBuild (NYSE:BLD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The construction company reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.07 by $0.06. The company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.31 billion. TopBuild had a return on equity of 26.40% and a net margin of 11.66%. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $4.69 EPS. Equities research analysts predict that TopBuild Corp. will post 20.97 EPS for the current fiscal year.
TopBuild Company Profile
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Free Report)
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.
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