Retirement Systems of Alabama Decreases Stake in TopBuild Corp. (NYSE:BLD)

Retirement Systems of Alabama lessened its position in shares of TopBuild Corp. (NYSE:BLD - Free Report) by 49.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 35,688 shares of the construction company's stock after selling 35,439 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of TopBuild worth $10,883,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in shares of TopBuild by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 967 shares of the construction company's stock worth $301,000 after buying an additional 48 shares during the period. Navellier & Associates Inc. boosted its position in TopBuild by 4.9% during the fourth quarter. Navellier & Associates Inc. now owns 4,414 shares of the construction company's stock valued at $1,374,000 after acquiring an additional 206 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in TopBuild during the fourth quarter valued at $1,450,000. Y Intercept Hong Kong Ltd grew its holdings in TopBuild by 124.8% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 2,279 shares of the construction company's stock worth $710,000 after acquiring an additional 1,265 shares during the period. Finally, IFP Advisors Inc raised its position in shares of TopBuild by 8.8% in the 4th quarter. IFP Advisors Inc now owns 1,015 shares of the construction company's stock worth $316,000 after acquiring an additional 82 shares in the last quarter. Institutional investors own 95.67% of the company's stock.

TopBuild Stock Performance

NYSE:BLD traded up $1.75 during trading on Thursday, reaching $321.21. The company's stock had a trading volume of 220,280 shares, compared to its average volume of 325,464. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 3.21 and a beta of 1.62. TopBuild Corp. has a 12 month low of $266.26 and a 12 month high of $495.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.47 and a current ratio of 2.02. The firm has a 50 day moving average of $296.45 and a 200-day moving average of $309.78.

TopBuild (NYSE:BLD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The construction company reported $4.63 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.20. TopBuild had a net margin of 11.23% and a return on equity of 28.52%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the business earned $4.81 earnings per share. The firm's revenue for the quarter was down 3.6% on a year-over-year basis. Research analysts expect that TopBuild Corp. will post 20.97 EPS for the current fiscal year.

Insider Activity

In related news, insider Steven P. Raia sold 1,738 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $310.98, for a total value of $540,483.24. Following the transaction, the insider now owns 7,007 shares in the company, valued at approximately $2,179,036.86. This represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.43% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BLD shares. Stephens dropped their price objective on TopBuild from $340.00 to $320.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. DA Davidson dropped their price target on TopBuild from $435.00 to $395.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Truist Financial dropped their price objective on shares of TopBuild from $395.00 to $310.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of TopBuild in a research report on Tuesday, April 1st. They set a "buy" rating and a $356.00 price objective on the stock. Finally, Loop Capital decreased their target price on TopBuild from $370.00 to $360.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $380.22.

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.