Northern Trust Corp Boosts Stake in TopBuild Corp. $BLD

Key Points

• Northern Trust Corp has increased its stake in TopBuild Corp by 1.2%, owning approximately 1.12% of the company, valued at $97.3 million as of the end of the first quarter.
• Several institutional investors, including Parallel Advisors LLC and MassMutual Private Wealth & Trust FSB, significantly boosted their holdings in TopBuild during the same quarter.
• The stock received positive analyst attention, with upgrades from firms like JPMorgan Chase & Co. and Seaport Res Ptn, marking it with a consensus rating of 'Moderate Buy' and a target price of $394.67.

Northern Trust Corp lifted its position in TopBuild Corp. (NYSE:BLD - Free Report) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 318,995 shares of the construction company's stock after purchasing an additional 3,774 shares during the quarter. Northern Trust Corp owned approximately 1.12% of TopBuild worth $97,278,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in shares of TopBuild by 111.5% in the first 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 period. Rossby Financial LCC acquired a new position in shares of TopBuild in the 1st quarter valued at $50,000. MassMutual Private Wealth & Trust FSB raised its position in TopBuild by 240.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 187 shares of the construction company's stock valued at $57,000 after purchasing an additional 132 shares during the last quarter. Signaturefd LLC raised its position in TopBuild by 170.1% in the 1st quarter. Signaturefd LLC now owns 262 shares of the construction company's stock valued at $80,000 after purchasing an additional 165 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in TopBuild during the 4th quarter worth $81,000. Institutional investors and hedge funds own 95.67% of the company's stock.

Insider Buying and Selling at TopBuild

In other news, CFO Robert M. Kuhns sold 2,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Luis Francisco Machado sold 990 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $415.02, for a total transaction of $410,869.80. Following the transaction, the vice president directly owned 10,349 shares of the company's stock, valued at approximately $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. Insiders sold 12,313 shares of company stock worth $5,118,903 over the last ninety days. 0.43% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped 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. DA Davidson reduced their price objective on TopBuild from $435.00 to $395.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Seaport Res Ptn upgraded TopBuild from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. Evercore ISI boosted their target price on TopBuild from $347.00 to $418.00 and gave the company an "in-line" rating in a report on Wednesday, August 6th. Finally, Stephens decreased their price target on TopBuild from $340.00 to $320.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $394.67.

TopBuild Stock Up 4.5%

BLD opened at $434.6670 on Friday. The business has a 50 day simple moving average of $371.48 and a 200-day simple moving average of $324.74. TopBuild Corp. has a 12 month low of $266.26 and a 12 month high of $445.74. The stock has a market capitalization of $12.23 billion, a P/E ratio of 21.40, a P/E/G ratio of 5.81 and a beta of 1.63. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.83 and a quick ratio of 2.29.

TopBuild (NYSE:BLD - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The construction company reported $5.31 EPS 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 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.42 earnings per share. TopBuild has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that TopBuild Corp. will post 20.97 earnings per share for the current fiscal year.

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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