State of New Jersey Common Pension Fund D Reduces Position in TopBuild Corp. $BLD

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in TopBuild Corp. by 15.4%, selling 1,700 shares during the 1st quarter, leaving them with a total of 9,332 shares valued at approximately $2.85 million.
• Several investors increased their holdings in TopBuild during the same quarter, with MassMutual Private Wealth & Trust FSB expanding their stake by 240%, and hedge funds holding 95.67% of the stock.
• TopBuild's stock has received multiple bullish ratings from analysts, with the average target price now set at $394.67 and a current consensus rating of "Moderate Buy".

State of New Jersey Common Pension Fund D reduced its stake in TopBuild Corp. (NYSE:BLD - Free Report) by 15.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,332 shares of the construction company's stock after selling 1,700 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in TopBuild were worth $2,846,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC grew its stake in shares of TopBuild by 111.5% in the 1st quarter. Parallel Advisors LLC now owns 129 shares of the construction company's stock valued at $39,000 after purchasing an additional 68 shares during the last quarter. Rossby Financial LCC purchased a new position in shares of TopBuild in the 1st quarter valued at approximately $50,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of 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 grew its stake in shares of 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 purchased a new position in shares of TopBuild in the 4th quarter valued at approximately $81,000. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BLD has been the topic of several analyst reports. UBS Group set a $370.00 target price on TopBuild and gave the company a "hold" rating in a research note on Tuesday, August 5th. Seaport Res Ptn upgraded TopBuild from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. Loop Capital raised their price target on TopBuild from $360.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Benchmark raised their price target on TopBuild from $375.00 to $444.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Bank of America raised their price target on TopBuild from $320.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $394.67.

Insider Transactions at TopBuild

In related news, CEO Robert M. Buck sold 7,350 shares of TopBuild stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $415.19, for a total transaction of $3,051,646.50. Following the completion of the transaction, the chief executive officer directly owned 73,225 shares of the company's stock, valued at approximately $30,402,287.75. The trade was a 9.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Luis Francisco Machado sold 990 shares of TopBuild stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $415.02, for a total value 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 represents a 8.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,313 shares of company stock valued at $5,118,903. Company insiders own 0.43% of the company's stock.

TopBuild Stock Down 3.1%

BLD opened at $419.9880 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.83 and a quick ratio of 2.29. The business has a 50 day simple moving average of $366.63 and a 200-day simple moving average of $323.53. The stock has a market capitalization of $11.82 billion, a P/E ratio of 20.68, a P/E/G ratio of 5.80 and a beta of 1.63. TopBuild Corp. has a 12 month low of $266.26 and a 12 month high of $445.74.

TopBuild (NYSE:BLD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The construction company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.07 by $0.24. The firm had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.30 billion. TopBuild had a return on equity of 28.32% and a net margin of 11.40%.TopBuild's revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $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.

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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