Avantax Advisory Services Inc. Makes New Investment in TopBuild Corp. (NYSE:BLD)

Key Points

• Avantax Advisory Services Inc. has purchased 692 shares of TopBuild Corp., valued at approximately $211,000, marking a new investment position in the company.
• Several large institutional investors, including Federated Hermes and Invesco, increased their stakes in TopBuild, contributing to institutional ownership of 95.67% of the company's stock.
• Analysts have upgraded their price targets for TopBuild, with Bank of America setting a new target of $400.00, indicating strong market confidence in the company.

Avantax Advisory Services Inc. bought a new position in TopBuild Corp. (NYSE:BLD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 692 shares of the construction company's stock, valued at approximately $211,000.

Several other hedge funds have also added to or reduced their stakes in BLD. Parallel Advisors LLC boosted its holdings in TopBuild by 111.5% in the first quarter. Parallel Advisors LLC now owns 129 shares of the construction company's stock worth $39,000 after acquiring an additional 68 shares in the last quarter. Rossby Financial LCC bought a new stake in TopBuild in the first quarter worth $50,000. MassMutual Private Wealth & Trust FSB boosted its holdings in TopBuild by 240.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 187 shares of the construction company's stock worth $57,000 after acquiring an additional 132 shares in the last quarter. Signaturefd LLC boosted its holdings in TopBuild by 170.1% in the first quarter. Signaturefd LLC now owns 262 shares of the construction company's stock worth $80,000 after acquiring an additional 165 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in TopBuild in the fourth quarter worth $81,000. 95.67% of the stock is owned by institutional investors.

TopBuild Stock Performance

Shares of BLD stock traded down $3.79 on Thursday, reaching $439.52. The stock had a trading volume of 248,079 shares, compared to its average volume of 370,642. The stock has a market cap of $12.37 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 5.75 and a beta of 1.63. TopBuild Corp. has a 1 year low of $266.26 and a 1 year high of $445.74. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.29 and a current ratio of 2.83. The company has a 50 day simple moving average of $353.89 and a 200 day simple moving average of $320.62.

TopBuild (NYSE:BLD - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The construction company reported $5.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.07 by $0.24. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.30 billion. TopBuild had a return on equity of 28.32% and a net margin of 11.40%. The company's revenue for the quarter was down 5.0% on a year-over-year basis. During the same period last year, the business posted $5.42 EPS. Equities research analysts expect that TopBuild Corp. will post 20.97 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BLD. Bank of America boosted their price target on TopBuild from $320.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Evercore ISI boosted their price target on TopBuild from $347.00 to $418.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 6th. Loop Capital boosted their price target on TopBuild from $360.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price target on TopBuild from $344.00 to $398.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Finally, Benchmark boosted their price target on TopBuild from $375.00 to $444.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $394.67.

Insider Buying and Selling

In related news, insider Jeff M. Krestancic sold 373 shares of TopBuild stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $415.00, for a total transaction of $154,795.00. Following the transaction, the insider directly owned 4,934 shares in the company, valued at approximately $2,047,610. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert M. Kuhns sold 2,000 shares of TopBuild stock in a transaction on Friday, August 8th. The shares were sold at an average price of $416.10, for a total value of $832,200.00. Following the transaction, the chief financial officer owned 15,633 shares in the company, valued at $6,504,891.30. This trade represents a 11.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,313 shares of company stock valued at $5,118,903 over the last three months. 0.43% of the stock is currently owned by company insiders.

TopBuild Company 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.