MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 22,972 Shares of TopBuild Corp. $BLD

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in TopBuild Corp. by 10.5%, selling 22,972 shares during the first quarter, leaving them with approximately 0.68% ownership valued at $59.6 million.
• TopBuild reported earnings of $5.31 per share, exceeding expectations, but saw a 5% decline in revenue compared to the previous year, totaling $1.30 billion.
• Equities analysts have given TopBuild an average rating of "Moderate Buy" with a target price around $394.67, indicating confidence in its performance despite recent revenue challenges.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its holdings in shares of TopBuild Corp. (NYSE:BLD - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 195,561 shares of the construction company's stock after selling 22,972 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.68% of TopBuild worth $59,636,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BLD. SVB Wealth LLC acquired a new stake in shares of TopBuild during the first quarter worth $35,000. Parallel Advisors LLC lifted its stake in shares of TopBuild by 111.5% in the 1st quarter. Parallel Advisors LLC now owns 129 shares of the construction company's stock valued at $39,000 after acquiring an additional 68 shares during the last quarter. Rossby Financial LCC bought a new position in TopBuild during the 1st quarter worth $50,000. MassMutual Private Wealth & Trust FSB grew its holdings in TopBuild by 240.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 187 shares of the construction company's stock worth $57,000 after acquiring an additional 132 shares during the period. Finally, Signaturefd LLC grew its holdings in TopBuild by 170.1% during the 1st quarter. Signaturefd LLC now owns 262 shares of the construction company's stock worth $80,000 after acquiring an additional 165 shares during the period. 95.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLD has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of TopBuild from $344.00 to $398.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. UBS Group set a $370.00 price objective on shares of TopBuild and gave the company a "hold" rating in a research report on Tuesday, August 5th. Evercore ISI boosted their price objective on shares of TopBuild from $347.00 to $418.00 and gave the company an "in-line" rating in a research report on Wednesday, August 6th. Benchmark increased their price objective on shares of TopBuild from $375.00 to $444.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Bank of America raised their price target on shares of TopBuild from $320.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. 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 data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $394.67.

TopBuild Stock Performance

BLD stock traded up $8.01 during mid-day trading on Thursday, reaching $425.65. The company had a trading volume of 175,575 shares, compared to its average volume of 363,981. The stock's 50-day simple moving average is $399.05 and its two-hundred day simple moving average is $333.72. The stock has a market capitalization of $11.98 billion, a P/E ratio of 20.98, a P/E/G ratio of 5.63 and a beta of 1.61. TopBuild Corp. has a one year low of $266.26 and a one year high of $445.74. 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 (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, topping analysts' consensus estimates of $5.07 by $0.24. The firm had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.30 billion. TopBuild had a return on equity of 28.32% and a net margin of 11.40%.TopBuild's revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the business posted $5.42 EPS. TopBuild has set its FY 2025 guidance at EPS. Research analysts anticipate that TopBuild Corp. will post 20.97 EPS for the current year.

Insiders Place Their Bets

In other TopBuild news, CFO Robert M. Kuhns sold 2,000 shares of the company's stock in a transaction 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 $6,504,891.30. This represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Luis Francisco Machado sold 990 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $415.02, for a total value of $410,869.80. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,663 shares of company stock valued at $5,709,488. 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.