Kayne Anderson Rudnick Investment Management LLC Sells 3,486 Shares of TopBuild Corp. $BLD

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in TopBuild Corp. by 5.3%, now holding 62,031 shares worth approximately $18.9 million after selling 3,486 shares in the first quarter.
• Several institutional investors have increased their positions in TopBuild, with First Trust Advisors LP boosting its stake by 24.9%, now owning 51,390 shares valued at around $16 million.
• TopBuild recently reported earnings of $5.31 per share, exceeding estimates, and generated $1.30 billion in revenue, though revenue was down 5.0% compared to the same quarter last year.

Kayne Anderson Rudnick Investment Management LLC reduced its position in shares of TopBuild Corp. (NYSE:BLD - Free Report) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,031 shares of the construction company's stock after selling 3,486 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 0.22% of TopBuild worth $18,916,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Comerica Bank grew its stake in TopBuild by 14.3% in the 1st quarter. Comerica Bank now owns 12,936 shares of the construction company's stock valued at $3,945,000 after purchasing an additional 1,614 shares during the period. SVB Wealth LLC bought a new position in TopBuild during the first quarter valued at about $35,000. Advantage Alpha Capital Partners LP raised its position in TopBuild by 8.1% in the first quarter. Advantage Alpha Capital Partners LP now owns 16,556 shares of the construction company's stock worth $5,049,000 after acquiring an additional 1,241 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of TopBuild by 21.5% in the 1st quarter. Ameriprise Financial Inc. now owns 236,075 shares of the construction company's stock worth $71,991,000 after purchasing an additional 41,803 shares during the period. Finally, Tribune Investment Group LP bought a new stake in shares of TopBuild in the 1st quarter worth approximately $7,319,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

TopBuild Price Performance

NYSE:BLD traded down $0.90 during midday trading on Thursday, hitting $424.91. The company had a trading volume of 340,572 shares, compared to its average volume of 425,672. The company has a market capitalization of $11.96 billion, a PE ratio of 20.52, a P/E/G ratio of 5.69 and a beta of 1.63. The company has a quick ratio of 2.29, a current ratio of 2.83 and a debt-to-equity ratio of 0.86. TopBuild Corp. has a 52-week low of $266.26 and a 52-week high of $445.74. The stock's fifty day moving average price is $379.25 and its 200-day moving average price is $326.74.

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 (EPS) 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 analyst estimates of $1.30 billion. During the same quarter in the previous year, the company posted $5.42 earnings per share. The company's revenue was down 5.0% compared to the same quarter last year. TopBuild has set its FY 2025 guidance at EPS. As a group, research analysts expect that TopBuild Corp. will post 20.97 earnings per share for the current year.

Insider Transactions at TopBuild

In other TopBuild news, CEO Robert M. Buck sold 7,350 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $415.19, for a total transaction of $3,051,646.50. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeff M. Krestancic sold 373 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $415.00, for a total transaction of $154,795.00. Following the completion of the sale, the insider owned 4,934 shares of the company's stock, valued at approximately $2,047,610. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,663 shares of company stock worth $5,709,488 in the last three months. Corporate insiders own 0.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BLD shares. Loop Capital raised their target price on TopBuild from $360.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price objective on TopBuild from $344.00 to $398.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Evercore ISI upped their price objective on shares of TopBuild from $347.00 to $418.00 and gave the company an "in-line" rating in a report on Wednesday, August 6th. DA Davidson lowered their price target 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, UBS Group set a $370.00 price objective on shares of TopBuild and gave the stock a "hold" rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $394.67.

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.