Invesco Ltd. Trims Position in TopBuild Corp. $BLD

Key Points

• Invesco Ltd. reduced its stake in TopBuild Corp. by 24.0%, selling 142,709 shares which left them with 452,629 shares valued at approximately $138 million.
• Several institutional investors, including Capital Research Global Investors and T. Rowe Price Investment Management Inc., have substantially increased their positions in TopBuild, reflecting strong investor interest.
• TopBuild reported earnings of $5.31 per share, exceeding analysts' expectations, though its revenue was down 5.0% compared to the same quarter last year.

Invesco Ltd. reduced its stake in TopBuild Corp. (NYSE:BLD - Free Report) by 24.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 452,629 shares of the construction company's stock after selling 142,709 shares during the period. Invesco Ltd. owned about 1.58% of TopBuild worth $138,029,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BLD. Raymond James Financial Inc. purchased a new position in TopBuild in the 4th quarter worth approximately $6,410,000. Sterling Capital Management LLC increased its stake in TopBuild by 45.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,687 shares of the construction company's stock worth $525,000 after purchasing an additional 527 shares during the period. Rockefeller Capital Management L.P. purchased a new position in TopBuild in the 4th quarter worth approximately $3,366,000. Barclays PLC increased its stake in TopBuild by 198.5% in the 4th quarter. Barclays PLC now owns 72,977 shares of the construction company's stock worth $22,719,000 after purchasing an additional 48,530 shares during the period. Finally, Anchor Investment Management LLC increased its stake in TopBuild by 16.8% in the 4th quarter. Anchor Investment Management LLC now owns 1,037 shares of the construction company's stock worth $323,000 after purchasing an additional 149 shares during the period. 95.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Seaport Res Ptn upgraded TopBuild from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Loop Capital lifted their price objective on TopBuild from $360.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. UBS Group set a $370.00 price objective on TopBuild and gave the stock a "hold" rating in a research report on Tuesday, August 5th. Bank of America lifted their price objective on TopBuild from $320.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, DA Davidson cut their price objective on TopBuild from $435.00 to $395.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, TopBuild presently has a consensus rating of "Moderate Buy" and an average price target of $394.67.

TopBuild Stock Up 1.5%

NYSE:BLD traded up $6.57 during trading hours on Tuesday, reaching $434.30. 54,913 shares of the company traded hands, compared to its average volume of 369,665. TopBuild Corp. has a 1 year low of $266.26 and a 1 year high of $445.74. The business's 50-day moving average price is $361.88 and its two-hundred day moving average price is $322.09. The company has a current ratio of 2.83, a quick ratio of 2.29 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $12.22 billion, a P/E ratio of 21.37, a P/E/G ratio of 5.78 and a beta of 1.63.

TopBuild (NYSE:BLD - Get Free Report) last posted its quarterly earnings results 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. TopBuild had a return on equity of 28.32% and a net margin of 11.40%.The firm had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter in the previous year, the business earned $5.42 earnings per share. The company's revenue was down 5.0% on a year-over-year basis. TopBuild has set its FY 2025 guidance at EPS. Analysts predict that TopBuild Corp. will post 20.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Robert M. Buck sold 7,350 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer owned 73,225 shares in the company, valued at $30,402,287.75. The trade was a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff M. Krestancic sold 373 shares of the business's stock in a transaction 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 completion of the transaction, the insider owned 4,934 shares of the company's stock, valued at $2,047,610. This represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,313 shares of company stock worth $5,118,903 over the last three months. Company 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.