Oppenheimer Asset Management Inc. raised its stake in TopBuild Corp. (NYSE:BLD) by 54.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,905 shares of the construction company’s stock after purchasing an additional 5,628 shares during the period. Oppenheimer Asset Management Inc.’s holdings in TopBuild Corp. were worth $844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Citadel Advisors LLC purchased a new position in TopBuild Corp. in the first quarter valued at about $209,000. Vanguard Group Inc. grew its stake in TopBuild Corp. by 4.4% in the first quarter. Vanguard Group Inc. now owns 3,287,047 shares of the construction company’s stock valued at $154,490,000 after purchasing an additional 139,066 shares during the last quarter. Bank of America Corp DE grew its stake in TopBuild Corp. by 243.0% in the first quarter. Bank of America Corp DE now owns 223,578 shares of the construction company’s stock valued at $10,508,000 after purchasing an additional 158,394 shares during the last quarter. Principal Financial Group Inc. grew its stake in TopBuild Corp. by 3.0% in the first quarter. Principal Financial Group Inc. now owns 311,499 shares of the construction company’s stock valued at $14,640,000 after purchasing an additional 9,147 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in TopBuild Corp. by 2.8% in the first quarter. Geode Capital Management LLC now owns 296,251 shares of the construction company’s stock valued at $13,923,000 after purchasing an additional 8,086 shares during the last quarter. Institutional investors own 92.01% of the company’s stock.
TopBuild Corp. (BLD) opened at 59.40 on Wednesday. TopBuild Corp. has a 1-year low of $28.81 and a 1-year high of $60.00. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 32.93 and a beta of 0.61. The firm has a 50-day moving average price of $58.30 and a 200 day moving average price of $44.53.
TopBuild Corp. (NYSE:BLD) last issued its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.09. TopBuild Corp. had a return on equity of 9.09% and a net margin of 3.73%. The company had revenue of $474.50 million for the quarter, compared to the consensus estimate of $477.72 million. During the same quarter in the prior year, the business earned $0.43 EPS. TopBuild Corp.’s revenue was up 9.9% on a year-over-year basis. On average, equities research analysts anticipate that TopBuild Corp. will post $2.80 EPS for the current fiscal year.
In other TopBuild Corp. news, CEO Gerald Volas sold 44,356 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $56.81, for a total transaction of $2,519,864.36. Following the sale, the chief executive officer now owns 149,201 shares in the company, valued at approximately $8,476,108.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.
Several research firms have issued reports on BLD. BidaskClub lowered TopBuild Corp. from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 25th. Zacks Investment Research lowered TopBuild Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 11th. KeyCorp reiterated an “overweight” rating and issued a $59.00 target price (up previously from $56.00) on shares of TopBuild Corp. in a research note on Monday, June 26th. Finally, TheStreet upgraded TopBuild Corp. from a “c” rating to a “b-” rating in a research note on Friday, June 16th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $54.60.
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About TopBuild Corp.
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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