Retirement Systems of Alabama Sells 35,439 Shares of TopBuild Corp. (NYSE:BLD)

Retirement Systems of Alabama cut its holdings in shares of TopBuild Corp. (NYSE:BLD - Free Report) by 49.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,688 shares of the construction company's stock after selling 35,439 shares during the period. Retirement Systems of Alabama owned about 0.12% of TopBuild worth $10,883,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of BLD. T. Rowe Price Investment Management Inc. grew its position in TopBuild by 779.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 604,155 shares of the construction company's stock worth $188,098,000 after acquiring an additional 535,478 shares during the last quarter. Norges Bank bought a new position in TopBuild in the 4th quarter valued at $108,688,000. Westwood Holdings Group Inc. bought a new position in TopBuild in the 4th quarter valued at $80,844,000. Interval Partners LP bought a new position in TopBuild in the 4th quarter valued at $53,424,000. Finally, GAMMA Investing LLC boosted its position in TopBuild by 167,622.2% in the 1st quarter. GAMMA Investing LLC now owns 150,950 shares of the construction company's stock valued at $46,032,000 after buying an additional 150,860 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BLD. Stephens cut their price target 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. Truist Financial cut their price target on TopBuild from $395.00 to $310.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Loop Capital dropped their price objective on TopBuild from $370.00 to $360.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on TopBuild in a research note on Tuesday, April 1st. They set a "buy" rating and a $356.00 price objective on the stock. Finally, Wall Street Zen downgraded TopBuild from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $380.22.

TopBuild Trading Up 6.0%

TopBuild stock opened at $315.88 on Monday. TopBuild Corp. has a 52 week low of $266.26 and a 52 week 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 stock has a market capitalization of $9.03 billion, a P/E ratio of 15.98, a PEG ratio of 3.18 and a beta of 1.62. The stock has a 50-day simple moving average of $293.47 and a 200 day simple moving average of $310.35.

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

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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