Old North State Wealth Management LLC Takes $350,000 Position in TopBuild Corp. $BLD

Key Points

• Old North State Wealth Management LLC has acquired a new stake in TopBuild Corp., purchasing 1,080 shares valued at approximately $350,000 in the second quarter.
• Recent insider sales include CEO Robert M. Buck, who sold 7,350 shares for over $3 million, reducing his ownership by 9.12%.
• TopBuild's stock has a current market cap of $10.91 billion, with a consensus price target of $394.67 from analysts, reflecting positive growth outlooks.

Old North State Wealth Management LLC acquired a new stake in shares of TopBuild Corp. (NYSE:BLD - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,080 shares of the construction company's stock, valued at approximately $350,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SVB Wealth LLC purchased a new stake in shares of TopBuild in the first quarter worth $35,000. Parallel Advisors LLC boosted its holdings in TopBuild by 111.5% in the 1st quarter. Parallel Advisors LLC now owns 129 shares of the construction company's stock worth $39,000 after buying an additional 68 shares during the period. Rossby Financial LCC bought a new position in TopBuild in the 1st quarter worth $50,000. MassMutual Private Wealth & Trust FSB increased its stake in TopBuild by 240.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 187 shares of the construction company's stock worth $57,000 after buying an additional 132 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in TopBuild by 170.1% during the first quarter. Signaturefd LLC now owns 262 shares of the construction company's stock valued at $80,000 after acquiring an additional 165 shares during the period. 95.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jeff M. Krestancic sold 373 shares of the company'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 transaction, the insider owned 4,934 shares of the company's stock, valued at approximately $2,047,610. This represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert M. Buck sold 7,350 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $415.19, for a total value of $3,051,646.50. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,663 shares of company stock valued at $5,709,488. 0.43% of the stock is currently owned by company insiders.

TopBuild Price Performance

Shares of TopBuild stock opened at $387.68 on Friday. The stock has a market cap of $10.91 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 5.26 and a beta of 1.61. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.29 and a current ratio of 2.83. The stock has a 50 day moving average price of $409.17 and a 200-day moving average price of $341.65. TopBuild Corp. has a one year low of $266.26 and a one year high of $445.74.

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 analysts' consensus estimates of $5.07 by $0.24. TopBuild had a return on equity of 28.32% and a net margin of 11.40%.The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the company earned $5.42 earnings per share. TopBuild's revenue was down 5.0% on a year-over-year basis. TopBuild has set its FY 2025 guidance at EPS. Equities analysts expect that TopBuild Corp. will post 20.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BLD. Evercore ISI boosted their price objective on TopBuild from $347.00 to $418.00 and gave the company an "in-line" rating in a research report on Wednesday, August 6th. Bank of America boosted their price target on TopBuild from $320.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. increased their price objective on shares of TopBuild from $344.00 to $398.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Seaport Res Ptn upgraded shares of TopBuild from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Finally, Benchmark upped their target price on shares of TopBuild from $375.00 to $444.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $394.67.

About TopBuild

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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