Corebridge Financial Inc. Has $9.88 Million Stock Position in TopBuild Corp. $BLD

Key Points

• Corebridge Financial Inc. reduced its stake in TopBuild Corp. by 2.4%, owning 32,413 shares worth $9.88 million after selling 797 shares in the first quarter.
• TopBuild reported a quarterly EPS of $5.31, exceeding estimates, but its revenue decreased by 5.0% year-over-year, totaling $1.30 billion.
• Several hedge funds, including Snowden Capital Advisors LLC and QRG Capital Management Inc., increased their positions in TopBuild, reflecting strong institutional interest, with 95.67% of the stock owned by institutional investors.

Corebridge Financial Inc. reduced its position in shares of TopBuild Corp. (NYSE:BLD - Free Report) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,413 shares of the construction company's stock after selling 797 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of TopBuild worth $9,884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its holdings in TopBuild by 5.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 639,040 shares of the construction company's stock worth $194,876,000 after purchasing an additional 34,885 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in TopBuild by 5.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 481,958 shares of the construction company's stock worth $150,053,000 after purchasing an additional 23,428 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in TopBuild by 25.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 465,376 shares of the construction company's stock worth $141,908,000 after purchasing an additional 93,011 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in TopBuild by 32.3% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 386,920 shares of the construction company's stock worth $117,992,000 after purchasing an additional 94,389 shares during the last quarter. Finally, Boston Partners acquired a new position in TopBuild in the first quarter valued at about $116,738,000. 95.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BLD. Benchmark increased their target price on TopBuild from $375.00 to $444.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Bank of America increased their target price on TopBuild from $320.00 to $400.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. UBS Group set a $370.00 target price on TopBuild and gave the company a "hold" rating in a research note on Tuesday, August 5th. Seaport Res Ptn raised TopBuild from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. Finally, DA Davidson cut their target price on TopBuild from $435.00 to $395.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $394.67.

Insider Transactions at TopBuild

In related news, insider Jeff M. Krestancic sold 373 shares of TopBuild stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $415.00, for a total value of $154,795.00. Following the sale, the insider owned 4,934 shares of the company's stock, valued at approximately $2,047,610. This trade represents a 7.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert M. Kuhns sold 1,350 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $437.47, for a total value of $590,584.50. Following the completion of the transaction, the chief financial officer owned 14,283 shares of the company's stock, valued at approximately $6,248,384.01. This represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,663 shares of company stock worth $5,709,488 in the last 90 days. 0.43% of the stock is owned by corporate insiders.

TopBuild Stock Down 1.2%

TopBuild stock traded down $5.21 during midday trading on Monday, reaching $420.25. The stock had a trading volume of 225,414 shares, compared to its average volume of 402,481. The firm's fifty day simple moving average is $383.88 and its 200-day simple moving average is $328.08. TopBuild Corp. has a 1-year low of $266.26 and a 1-year high of $445.74. The stock has a market capitalization of $11.83 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 5.63 and a beta of 1.61. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.29 and a current ratio of 2.83.

TopBuild (NYSE:BLD - Get Free Report) last announced its earnings results on Tuesday, August 5th. The construction company reported $5.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm earned $5.42 EPS. TopBuild's revenue for the quarter was down 5.0% compared to the same quarter last year. TopBuild has set its FY 2025 guidance at EPS. As a group, analysts expect that TopBuild Corp. will post 20.97 EPS for the current fiscal year.

About TopBuild

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.