Ameriprise Financial Inc. Boosts Stock Position in TopBuild Corp. $BLD

Key Points

• Ameriprise Financial Inc. increased its stake in TopBuild Corp. by 21.5%, owning 0.83% of the company valued at approximately $71.99 million.
• TopBuild's recent earnings report showed $5.31 earnings per share, exceeding expectations of $5.07, although revenue decreased by 5% year-over-year.
• Research firms have adjusted their price targets for TopBuild, with Bank of America raising its target from $320 to $400, indicating a strong interest in the stock.

Ameriprise Financial Inc. raised its stake in shares of TopBuild Corp. (NYSE:BLD - Free Report) by 21.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 236,075 shares of the construction company's stock after buying an additional 41,803 shares during the period. Ameriprise Financial Inc. owned about 0.83% of TopBuild worth $71,991,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BLD. QRG Capital Management Inc. grew its stake in shares of TopBuild by 3.8% during the 1st quarter. QRG Capital Management Inc. now owns 1,311 shares of the construction company's stock valued at $400,000 after purchasing an additional 48 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of TopBuild by 3.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 19,887 shares of the construction company's stock worth $6,192,000 after buying an additional 637 shares during the last quarter. Algert Global LLC grew its position in TopBuild by 69.7% during the fourth quarter. Algert Global LLC now owns 7,031 shares of the construction company's stock valued at $2,189,000 after buying an additional 2,887 shares during the period. Tribune Investment Group LP bought a new stake in TopBuild during the first quarter valued at approximately $7,319,000. Finally, Two Sigma Investments LP grew its position in TopBuild by 192.7% during the fourth quarter. Two Sigma Investments LP now owns 17,367 shares of the construction company's stock valued at $5,407,000 after buying an additional 11,434 shares during the period. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TopBuild news, VP Luis Francisco Machado sold 990 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $415.02, for a total value of $410,869.80. Following the sale, the vice president owned 10,349 shares in the company, valued at $4,295,041.98. The trade was a 8.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert M. Kuhns sold 2,000 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $416.10, for a total transaction of $832,200.00. Following the completion of the sale, the chief financial officer owned 15,633 shares in the company, valued at approximately $6,504,891.30. The trade was a 11.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,663 shares of company stock valued at $5,709,488 in the last 90 days. 0.43% of the stock is currently owned by company insiders.

TopBuild Price Performance

Shares of NYSE:BLD traded down $5.21 during trading on Monday, hitting $420.25. 225,414 shares of the company's stock were exchanged, compared to its average volume of 402,481. The business's 50-day simple moving average is $385.77 and its 200 day simple moving average is $328.74. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.83 and a quick ratio of 2.29. TopBuild Corp. has a 52-week low of $266.26 and a 52-week high of $445.74. The company has a market cap of $11.83 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 5.63 and a beta of 1.61.

TopBuild (NYSE:BLD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The construction company reported $5.31 EPS for the quarter, topping analysts' consensus estimates of $5.07 by $0.24. TopBuild had a return on equity of 28.32% and a net margin of 11.40%.The company had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.30 billion. During the same period in the previous year, the firm earned $5.42 EPS. The firm's revenue was down 5.0% compared to the same quarter last year. 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 year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BLD. Bank of America upped their price objective on TopBuild from $320.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. UBS Group set a $370.00 price objective on TopBuild and gave the stock a "hold" rating in a research note on Tuesday, August 5th. Loop Capital increased their target price on shares of TopBuild from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Evercore ISI lifted their price target on shares of TopBuild from $347.00 to $418.00 and gave the company an "in-line" rating in a report on Wednesday, August 6th. Finally, Stephens lowered their price target on shares of TopBuild from $340.00 to $320.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $394.67.

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.