Findlay Park Partners LLP Decreases Stake in TopBuild Corp. $BLD

Key Points

• Findlay Park Partners LLP reduced its stock position in TopBuild Corp. by 20.8% in the first quarter, selling 116,813 shares and now owning approximately 1.56% of the company.
• CEO Robert M. Buck and VP Luis Francisco Machado both sold shares of TopBuild, with Buck's transaction totaling over $3 million, reflecting a significant decrease in their ownership.
• TopBuild reported earnings per share (EPS) of $5.31 for the latest quarter, exceeding analysts' expectations, but revenue decreased 5.0% year-over-year.

Findlay Park Partners LLP decreased its position in TopBuild Corp. (NYSE:BLD - Free Report) by 20.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 444,894 shares of the construction company's stock after selling 116,813 shares during the quarter. Findlay Park Partners LLP owned 1.56% of TopBuild worth $135,670,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP increased its stake in TopBuild by 24.9% in the fourth quarter. First Trust Advisors LP now owns 51,390 shares of the construction company's stock valued at $16,000,000 after purchasing an additional 10,237 shares during the last quarter. Nebula Research & Development LLC purchased a new position in TopBuild in the fourth quarter valued at approximately $219,000. The Manufacturers Life Insurance Company increased its stake in TopBuild by 3.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 19,887 shares of the construction company's stock valued at $6,192,000 after purchasing an additional 637 shares during the last quarter. Northern Trust Corp increased its stake in TopBuild by 24.6% in the fourth quarter. Northern Trust Corp now owns 315,221 shares of the construction company's stock valued at $98,141,000 after purchasing an additional 62,216 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of TopBuild by 14.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,125 shares of the construction company's stock worth $350,000 after acquiring an additional 146 shares during the last quarter. Institutional investors and hedge funds own 95.67% of the company's stock.

Analysts Set New Price Targets

BLD has been the topic of a number of research reports. Evercore ISI raised their target price on shares of TopBuild from $347.00 to $418.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. raised their target price on shares of TopBuild from $344.00 to $398.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Seaport Res Ptn upgraded shares of TopBuild from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. DA Davidson lowered their target price on shares of TopBuild from $435.00 to $395.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Benchmark raised their target price on shares of TopBuild from $375.00 to $444.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $394.67.

Insider Activity at TopBuild

In other TopBuild news, insider Jeff M. Krestancic sold 373 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $415.00, for a total transaction of $154,795.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert M. Kuhns sold 1,350 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $437.47, for a total transaction of $590,584.50. Following the sale, the chief financial officer owned 14,283 shares in the company, valued at $6,248,384.01. The trade was a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,663 shares of company stock valued at $5,709,488 over the last 90 days. Company insiders own 0.43% of the company's stock.

TopBuild Stock Performance

NYSE:BLD traded down $0.90 during midday trading on Thursday, reaching $424.91. The stock had a trading volume of 340,572 shares, compared to its average volume of 425,672. The firm has a fifty day simple moving average of $381.79 and a two-hundred day simple moving average of $327.39. TopBuild Corp. has a 12-month low of $266.26 and a 12-month high of $445.74. 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 stock has a market cap of $11.96 billion, a P/E ratio of 20.92, a P/E/G ratio of 5.69 and a beta of 1.63.

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

TopBuild 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.