Bank of New York Mellon Corp decreased its stake in TopBuild Corp. (NYSE:BLD) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 524,607 shares of the construction company’s stock after selling 27,641 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.42% of TopBuild worth $34,188,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Flinton Capital Management LLC boosted its stake in TopBuild by 66.2% in the 2nd quarter. Flinton Capital Management LLC now owns 1,888 shares of the construction company’s stock valued at $100,000 after buying an additional 752 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in TopBuild in the 2nd quarter valued at $111,000. Schroder Investment Management Group acquired a new position in TopBuild in the second quarter worth $121,000. Riverhead Capital Management LLC boosted its stake in TopBuild by 72.1% in the second quarter. Riverhead Capital Management LLC now owns 3,097 shares of the construction company’s stock worth $164,000 after purchasing an additional 1,297 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in TopBuild by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,966 shares of the construction company’s stock worth $210,000 after purchasing an additional 596 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have commented on BLD. KeyCorp reissued an “overweight” rating on shares of TopBuild in a research note on Friday, November 10th. BidaskClub lowered TopBuild from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 25th. Nomura boosted their price objective on TopBuild from $58.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 8th. ValuEngine lowered TopBuild from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, SunTrust Banks reissued a “buy” rating and issued a $75.00 price objective on shares of TopBuild in a research note on Wednesday, October 4th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $60.67.
TopBuild Corp. (NYSE BLD) opened at $65.19 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.36 and a quick ratio of 1.02. The company has a market capitalization of $2,315.15, a price-to-earnings ratio of 25.52 and a beta of 0.61. TopBuild Corp. has a one year low of $35.31 and a one year high of $69.34.
TopBuild (NYSE:BLD) last posted its quarterly earnings data on Tuesday, November 7th. The construction company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $489.04 million for the quarter, compared to analyst estimates of $491.43 million. TopBuild had a return on equity of 9.88% and a net margin of 4.03%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. sell-side analysts expect that TopBuild Corp. will post 2.74 EPS for the current year.
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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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