Jackson Square Partners LLC Sells 10,464 Shares of TopBuild Corp. (NYSE:BLD)

Key Points

• Jackson Square Partners LLC reduced its stake in TopBuild Corp. by 16.7%, selling 10,464 shares and holding 52,048 shares worth $15.87 million as of the first quarter.
• Several institutional investors, including Federated Hermes Inc. and Invesco Ltd., have increased their stakes in TopBuild, contributing to institutional ownership of 95.67% of the company's stock.
• TopBuild reported quarterly earnings of $5.31 per share, surpassing expectations, although revenue fell by 5% year-over-year.

Jackson Square Partners LLC decreased its position in shares of TopBuild Corp. (NYSE:BLD - Free Report) by 16.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,048 shares of the construction company's stock after selling 10,464 shares during the period. TopBuild accounts for approximately 2.1% of Jackson Square Partners LLC's portfolio, making the stock its 26th biggest position. Jackson Square Partners LLC owned about 0.18% of TopBuild worth $15,872,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BLD. Parallel Advisors LLC lifted its position in shares of TopBuild by 111.5% in the first quarter. Parallel Advisors LLC now owns 129 shares of the construction company's stock worth $39,000 after buying an additional 68 shares during the last quarter. Rossby Financial LCC acquired a new stake in shares of TopBuild in the first quarter worth about $50,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of TopBuild by 240.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 187 shares of the construction company's stock worth $57,000 after buying an additional 132 shares during the last quarter. Signaturefd LLC lifted its position in shares of TopBuild by 170.1% in the first quarter. Signaturefd LLC now owns 262 shares of the construction company's stock worth $80,000 after buying an additional 165 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in shares of TopBuild in the fourth quarter worth about $81,000. Institutional investors and hedge funds own 95.67% of the company's stock.

Insider Buying and Selling

In other news, CFO Robert M. Kuhns sold 2,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $416.10, for a total value of $832,200.00. Following the sale, the chief financial officer directly owned 15,633 shares in the company, valued at approximately $6,504,891.30. This represents a 11.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $415.19, for a total value of $3,051,646.50. Following the completion of the sale, the chief executive officer owned 73,225 shares in the company, valued at approximately $30,402,287.75. This represents a 9.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,051 shares of company stock worth $5,659,387. Insiders own 0.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BLD. DA Davidson reduced 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. UBS Group set a $370.00 price objective on TopBuild and gave the stock a "hold" rating in a research note on Tuesday. Evercore ISI lifted their price objective on TopBuild from $347.00 to $418.00 and gave the stock an "in-line" rating in a research note on Wednesday. Seaport Res Ptn upgraded TopBuild from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Finally, Loop Capital lifted their price objective on TopBuild from $360.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, TopBuild presently has a consensus rating of "Moderate Buy" and a consensus price target of $394.67.

TopBuild Stock Performance

TopBuild stock traded up $1.68 during trading hours on Friday, hitting $414.85. The stock had a trading volume of 401,127 shares, compared to its average volume of 426,265. The company has a 50-day moving average of $345.24 and a two-hundred day moving average of $319.06. The company has a quick ratio of 1.47, a current ratio of 2.83 and a debt-to-equity ratio of 0.86. The company has a market cap of $11.67 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 5.52 and a beta of 1.63. TopBuild Corp. has a fifty-two week low of $266.26 and a fifty-two week high of $421.11.

TopBuild (NYSE:BLD - Get Free Report) last released its quarterly earnings data 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. 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 analyst estimates of $1.30 billion. During the same period in the prior year, the company posted $5.42 EPS. The company's revenue was down 5.0% compared to the same quarter last year. On average, equities research analysts anticipate 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.