Allspring Global Investments Holdings LLC Takes Position in TopBuild Corp. $BLD

Key Points

• Allspring Global Investments Holdings LLC acquired a new position in TopBuild Corp. during the 2nd quarter, purchasing 318,912 shares valued at approximately $109.4 million.
• Several other institutional investors, including Aberdeen Group and Blue Trust Inc., also increased their stakes in TopBuild, with 95.67% of the stock now owned by institutional investors.
• TopBuild's stock has seen a consensus rating of "Moderate Buy" with a target price of $402.91, following several analyst upgrades in recent months.

Allspring Global Investments Holdings LLC bought a new stake in shares of TopBuild Corp. (NYSE:BLD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 318,912 shares of the construction company's stock, valued at approximately $109,447,000. Allspring Global Investments Holdings LLC owned about 1.12% of TopBuild at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Aberdeen Group plc increased its position in TopBuild by 0.7% in the 2nd quarter. Aberdeen Group plc now owns 34,299 shares of the construction company's stock valued at $11,104,000 after acquiring an additional 253 shares during the period. Blue Trust Inc. increased its position in TopBuild by 21.7% in the 2nd quarter. Blue Trust Inc. now owns 224 shares of the construction company's stock valued at $73,000 after acquiring an additional 40 shares during the period. Callan Family Office LLC acquired a new stake in TopBuild in the 2nd quarter valued at approximately $337,000. Kingswood Wealth Advisors LLC increased its position in TopBuild by 3.3% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 1,111 shares of the construction company's stock valued at $360,000 after acquiring an additional 36 shares during the period. Finally, KLP Kapitalforvaltning AS increased its position in TopBuild by 1.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 6,100 shares of the construction company's stock valued at $1,975,000 after acquiring an additional 100 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on BLD. UBS Group set a $370.00 target price on TopBuild and gave the company a "hold" rating in a research report on Tuesday, August 5th. Truist Financial raised their target price on TopBuild from $370.00 to $390.00 and gave the company a "hold" rating in a research report on Thursday, October 9th. Evercore ISI increased their price target on TopBuild from $424.00 to $449.00 and gave the company an "in-line" rating in a research note on Thursday. Bank of America increased their price target on TopBuild from $320.00 to $400.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Benchmark increased their price target on TopBuild from $375.00 to $444.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $402.91.

TopBuild Stock Performance

BLD opened at $424.43 on Tuesday. The firm has a market cap of $11.94 billion, a PE ratio of 20.90, a P/E/G ratio of 5.57 and a beta of 1.66. The company has a quick ratio of 2.29, a current ratio of 2.83 and a debt-to-equity ratio of 0.86. The business has a fifty day simple moving average of $416.28 and a 200-day simple moving average of $350.62. TopBuild Corp. has a fifty-two week low of $266.26 and a fifty-two week high of $445.74.

TopBuild (NYSE:BLD - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The construction company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.07 by $0.24. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. TopBuild had a return on equity of 28.32% and a net margin of 11.40%.The company's revenue was down 5.0% compared to the same quarter last year. During the same period last year, the company posted $5.42 EPS. TopBuild has set its FY 2025 guidance at EPS. As a group, equities analysts predict that TopBuild Corp. will post 20.97 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeff M. Krestancic sold 373 shares of the firm's 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 completion of the sale, the insider directly owned 4,934 shares of the company's stock, valued at $2,047,610. This trade represents a 7.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Luis Francisco Machado sold 990 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $415.02, for a total value of $410,869.80. Following the sale, the vice president directly owned 10,349 shares of the company's stock, valued at approximately $4,295,041.98. This represents a 8.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,663 shares of company stock valued at $5,709,488. 0.43% of the stock is owned by 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.

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