First Sabrepoint Capital Management LP Reduces Stock Position in TopBuild Corp. $BLD

Key Points

• First Sabrepoint Capital Management LP reduced its stake in TopBuild Corp. by 28.0%, decreasing its holdings to 18,000 shares, which now accounts for about 2.0% of the firm's investments.
• Multiple hedge funds have adjusted their positions in TopBuild, including Tribune Investment Group LP purchasing a new position worth approximately $7.3 million.
• Analysts have upgraded their ratings on TopBuild, with Loop Capital increasing the price target to $400 and Seaport Res Ptn assigning a "strong-buy" rating.

First Sabrepoint Capital Management LP cut its holdings in TopBuild Corp. (NYSE:BLD - Free Report) by 28.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,000 shares of the construction company's stock after selling 7,000 shares during the quarter. TopBuild makes up 2.0% of First Sabrepoint Capital Management LP's holdings, making the stock its 20th biggest holding. First Sabrepoint Capital Management LP owned approximately 0.06% of TopBuild worth $5,489,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. SVB Wealth LLC bought a new stake in TopBuild during the 1st quarter worth approximately $35,000. Parallel Advisors LLC raised its position in shares of TopBuild by 111.5% in the 1st 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 acquired a new stake in TopBuild in the first quarter worth $50,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of TopBuild by 240.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 187 shares of the construction company's stock valued at $57,000 after acquiring an additional 132 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of TopBuild in the fourth quarter valued at $81,000. 95.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BLD shares. Benchmark lifted their price target on TopBuild from $375.00 to $444.00 and gave the stock a "buy" rating in a report 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. JPMorgan Chase & Co. increased their price target on shares of TopBuild from $344.00 to $398.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Seaport Res Ptn upgraded TopBuild from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. Finally, DA Davidson lowered their price target on TopBuild from $435.00 to $395.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. One research 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $394.67.

TopBuild Stock Performance

Shares of TopBuild stock traded down $0.64 on Wednesday, hitting $416.88. 286,219 shares of the company's stock were exchanged, compared to its average volume of 367,408. The company has a 50-day simple moving average of $387.58 and a 200-day simple moving average of $329.35. The stock has a market capitalization of $11.73 billion, a PE ratio of 20.28, a PEG 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 Corp. has a 1 year low of $266.26 and a 1 year high of $445.74.

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

Insider Transactions at TopBuild

In other TopBuild news, VP Luis Francisco Machado sold 990 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $415.02, for a total transaction of $410,869.80. Following the completion of the transaction, the vice president owned 10,349 shares in the company, valued at $4,295,041.98. This trade represents a 8.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert M. Buck sold 7,350 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $415.19, for a total value of $3,051,646.50. Following the sale, the chief executive officer directly owned 73,225 shares in the company, valued at $30,402,287.75. This trade represents a 9.12% 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 three months. Corporate insiders own 0.43% of the company's stock.

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.