LPL Financial LLC Sells 22,473 Shares of TopBuild Corp. (NYSE:BLD)

Key Points

• LPL Financial LLC has reduced its stake in TopBuild Corp. by 60.5%, selling 22,473 shares to now hold 14,658 shares worth approximately $4.47 million.
• Several institutional investors have increased their positions in TopBuild, with T. Rowe Price raising theirs by 779.7%, now owning 604,155 shares valued at about $188 million.
• Analysts have a consensus rating of "Moderate Buy" for TopBuild, with a target price of $394.67, after various firms adjusted their price targets.

LPL Financial LLC trimmed its holdings in shares of TopBuild Corp. (NYSE:BLD - Free Report) by 60.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,658 shares of the construction company's stock after selling 22,473 shares during the quarter. LPL Financial LLC owned about 0.05% of TopBuild worth $4,470,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Capital Research Global Investors increased its position in TopBuild by 1.4% during the fourth quarter. Capital Research Global Investors now owns 3,029,012 shares of the construction company's stock worth $943,050,000 after acquiring an additional 41,047 shares during the period. T. Rowe Price Investment Management Inc. increased its position in TopBuild by 779.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 604,155 shares of the construction company's stock worth $188,098,000 after acquiring an additional 535,478 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in TopBuild by 5.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 481,958 shares of the construction company's stock worth $150,053,000 after acquiring an additional 23,428 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in TopBuild by 32.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 386,920 shares of the construction company's stock worth $117,992,000 after acquiring an additional 94,389 shares during the period. Finally, Northern Trust Corp increased its position in TopBuild by 24.6% during the fourth quarter. Northern Trust Corp now owns 315,221 shares of the construction company's stock worth $98,141,000 after acquiring an additional 62,216 shares during the period. 95.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on BLD. 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. Seaport Res Ptn raised shares of TopBuild from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. Benchmark raised their target price on shares of TopBuild from $375.00 to $444.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Bank of America raised their target price on shares of TopBuild from $320.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of TopBuild from $344.00 to $398.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, TopBuild currently has a consensus rating of "Moderate Buy" and a consensus target price of $394.67.

TopBuild Trading Down 1.2%

BLD opened at $438.13 on Friday. The company's 50 day moving average is $356.62 and its 200-day moving average is $321.21. TopBuild Corp. has a 1-year low of $266.26 and a 1-year high of $445.74. 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 company has a market cap of $12.33 billion, a P/E ratio of 21.57, a PEG ratio of 5.93 and a beta of 1.63.

TopBuild (NYSE:BLD - Get Free Report) last posted its earnings results on Tuesday, August 5th. The construction company reported $5.31 EPS for the quarter, topping 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 firm's revenue was down 5.0% compared to the same quarter last year. During the same period last year, the company earned $5.42 EPS. Equities research analysts predict that TopBuild Corp. will post 20.97 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Robert M. Buck sold 7,350 shares of the business'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 transaction, the chief executive officer owned 73,225 shares in the company, valued at approximately $30,402,287.75. The trade was a 9.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeff M. Krestancic sold 373 shares of TopBuild 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 completion of the sale, 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 a total of 12,313 shares of company stock worth $5,118,903 over the last quarter. 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.

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