Raymond James Financial Inc. Boosts Stock Position in TopBuild Corp. $BLD

Key Points

• Raymond James Financial Inc. increased its stake in TopBuild Corp. by 30.4% in the first quarter, owning 26,844 shares valued at approximately $8.18 million.
• Wall Street analysts have raised their price targets for TopBuild, with Bank of America increasing theirs from $320.00 to $400.00, indicating a strong outlook for the company's stock.
• TopBuild reported earnings of $5.31 per share for the last quarter, surpassing analysts' expectations, despite a 5.0% decline in year-over-year revenue.

Raymond James Financial Inc. lifted its holdings in TopBuild Corp. (NYSE:BLD - Free Report) by 30.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,844 shares of the construction company's stock after purchasing an additional 6,256 shares during the quarter. Raymond James Financial Inc. owned 0.09% of TopBuild worth $8,186,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of TopBuild by 5.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 481,958 shares of the construction company's stock valued at $150,053,000 after purchasing an additional 23,428 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in TopBuild by 25.0% during the first quarter. Dimensional Fund Advisors LP now owns 465,376 shares of the construction company's stock worth $141,908,000 after buying an additional 93,011 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake 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 buying an additional 94,389 shares during the period. Boston Partners purchased a new position in TopBuild during the first quarter worth $116,738,000. Finally, Westwood Holdings Group Inc. boosted its stake in TopBuild by 5.7% during the first quarter. Westwood Holdings Group Inc. now owns 274,518 shares of the construction company's stock worth $83,714,000 after buying an additional 14,852 shares during the period. 95.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BLD shares. JPMorgan Chase & Co. lifted their price objective on shares of TopBuild from $344.00 to $398.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Bank of America lifted their price objective 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. Evercore ISI lifted their price objective on shares of TopBuild from $347.00 to $418.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 6th. Seaport Res Ptn raised shares of TopBuild from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. Finally, DA Davidson dropped their price objective on shares of TopBuild from $435.00 to $395.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, TopBuild has a consensus rating of "Moderate Buy" and a consensus price target of $394.67.

TopBuild Stock Down 1.2%

Shares of BLD opened at $420.25 on Tuesday. The firm has a market capitalization of $11.83 billion, a P/E ratio of 20.69, a P/E/G ratio of 5.63 and a beta of 1.61. TopBuild Corp. has a 12-month low of $266.26 and a 12-month 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 firm has a fifty day moving average price of $385.77 and a 200-day moving average price of $328.74.

TopBuild (NYSE:BLD - Get Free Report) last issued its earnings results on Tuesday, August 5th. The construction company reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.07 by $0.24. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. TopBuild had a net margin of 11.40% and a return on equity of 28.32%. The business's revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $5.42 earnings per share. TopBuild has set its FY 2025 guidance at EPS. Equities research analysts expect that TopBuild Corp. will post 20.97 earnings per share for the current year.

Insider Transactions at TopBuild

In related news, VP Luis Francisco Machado sold 990 shares of TopBuild stock in a transaction dated Thursday, August 7th. The stock was 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 directly owned 10,349 shares in the company, valued at $4,295,041.98. The trade was a 8.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeff M. Krestancic sold 373 shares of TopBuild stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $415.00, for a total value 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. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,663 shares of company stock valued at $5,709,488. Insiders own 0.43% of the company's stock.

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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