Moors & Cabot Inc. Makes New $212,000 Investment in TopBuild Corp. (NYSE:BLD)

Key Points

• Moors & Cabot Inc. has made a new investment of approximately $212,000 in TopBuild Corp., acquiring 694 shares in the first quarter.
• Institutional investors hold a significant portion of TopBuild, with 95.67% of the stock owned by hedge funds and others, highlighting strong investor confidence.
• TopBuild's most recent earnings report showed an EPS of $5.31, exceeding estimates, but revenue was down 5.0% compared to the previous year.

Moors & Cabot Inc. acquired a new position in TopBuild Corp. (NYSE:BLD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 694 shares of the construction company's stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also bought and sold shares of BLD. Federated Hermes Inc. lifted its holdings in TopBuild by 20.2% in the fourth quarter. Federated Hermes Inc. now owns 5,885 shares of the construction company's stock worth $1,832,000 after buying an additional 987 shares during the period. Invesco Ltd. grew its holdings in TopBuild by 14.6% in the fourth quarter. Invesco Ltd. now owns 595,338 shares of the construction company's stock worth $185,353,000 after purchasing an additional 75,713 shares during the period. Renaissance Group LLC grew its holdings in TopBuild by 12.1% in the fourth quarter. Renaissance Group LLC now owns 10,631 shares of the construction company's stock worth $3,310,000 after purchasing an additional 1,146 shares during the period. Abacus FCF Advisors LLC purchased a new stake in TopBuild in the fourth quarter worth about $705,000. Finally, Raymond James Financial Inc. purchased a new stake in TopBuild in the fourth quarter worth about $6,410,000. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TopBuild

In other news, insider Steven P. Raia sold 1,738 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $310.98, for a total transaction of $540,483.24. Following the completion of the sale, the insider owned 7,007 shares of the company's stock, valued at $2,179,036.86. This represents a 19.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.43% of the stock is owned by insiders.

TopBuild Stock Performance

Shares of NYSE BLD opened at $408.91 on Wednesday. The firm's 50-day moving average price is $337.48 and its 200-day moving average price is $317.56. The company has a quick ratio of 1.47, a current ratio of 2.02 and a debt-to-equity ratio of 0.62. The company has a market cap of $11.69 billion, a PE ratio of 20.68, a PEG ratio of 4.98 and a beta of 1.63. TopBuild Corp. has a 52-week low of $266.26 and a 52-week high of $419.87.

TopBuild (NYSE:BLD - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The construction company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.07 by $0.24. TopBuild had a net margin of 11.23% and a return on equity of 28.52%. 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 prior year, the firm earned $5.42 EPS. The business's revenue for the quarter was down 5.0% compared to the same quarter last year. As a group, analysts anticipate that TopBuild Corp. will post 20.97 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BLD. Stephens cut their price objective on shares of TopBuild from $340.00 to $320.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Bank of America upped their price objective on shares of TopBuild from $320.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Loop Capital lifted their target price on shares of TopBuild from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of TopBuild from $344.00 to $398.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Finally, DA Davidson decreased their target price on shares of TopBuild from $435.00 to $395.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $387.27.

TopBuild Company 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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