TopBuild Corp. $BLD Shares Purchased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in TopBuild Corp. by 14.8% during the second quarter, owning 16,681 shares valued at approximately $5.4 million.
• Research firms have set positive price targets for TopBuild, with Benchmark raising it to $444 and Loop Capital increasing it to $400, reflecting optimism in the company's performance.
• TopBuild Corp. reported a 5.0% decrease in year-over-year revenue, with EPS of $5.31 in the last quarter, exceeding estimates by $0.24.

Allianz Asset Management GmbH grew its stake in shares of TopBuild Corp. (NYSE:BLD - Free Report) by 14.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,681 shares of the construction company's stock after purchasing an additional 2,148 shares during the quarter. Allianz Asset Management GmbH owned 0.06% of TopBuild worth $5,400,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of BLD. Ritholtz Wealth Management raised its holdings in shares of TopBuild by 11.0% during the 2nd quarter. Ritholtz Wealth Management now owns 1,714 shares of the construction company's stock valued at $555,000 after buying an additional 170 shares during the period. Boston Trust Walden Corp boosted its holdings in TopBuild by 6.7% in the 2nd quarter. Boston Trust Walden Corp now owns 149,335 shares of the construction company's stock worth $48,346,000 after acquiring an additional 9,314 shares during the period. Sequoia Financial Advisors LLC grew its position in TopBuild by 23.8% in the second quarter. Sequoia Financial Advisors LLC now owns 1,176 shares of the construction company's stock valued at $381,000 after acquiring an additional 226 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of TopBuild during the second quarter valued at approximately $109,447,000. Finally, Aberdeen Group plc lifted its position in shares of TopBuild by 0.7% during the second quarter. Aberdeen Group plc now owns 34,299 shares of the construction company's stock worth $11,104,000 after purchasing an additional 253 shares in the last quarter. Hedge funds and other institutional investors own 95.67% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BLD. Benchmark lifted their price target on shares of TopBuild from $375.00 to $444.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. UBS Group set a $370.00 target price on TopBuild and gave the stock a "hold" rating in a research report on Tuesday, August 5th. Loop Capital increased 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. Truist Financial raised their price objective on TopBuild from $370.00 to $390.00 and gave the company a "hold" rating in a research note on Thursday, October 9th. Finally, JPMorgan Chase & Co. upped their target price on TopBuild from $344.00 to $398.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $412.50.

Insider Buying and Selling at TopBuild

In other TopBuild news, CFO Robert M. Kuhns sold 1,350 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $437.47, for a total transaction of $590,584.50. Following the sale, the chief financial officer directly owned 14,283 shares of the company's stock, valued at approximately $6,248,384.01. This represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff M. Krestancic sold 373 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $415.00, for a total transaction of $154,795.00. Following the sale, the insider directly owned 4,934 shares of the company's stock, valued at approximately $2,047,610. This represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,663 shares of company stock valued at $5,709,488 over the last three months. 0.43% of the stock is currently owned by company insiders.

TopBuild Stock Down 1.1%

Shares of TopBuild stock opened at $443.23 on Thursday. The business has a 50-day moving average price of $419.39 and a 200 day moving average price of $356.63. TopBuild Corp. has a fifty-two week low of $266.26 and a fifty-two week high of $456.21. The firm has a market cap of $12.47 billion, a P/E ratio of 21.82, a P/E/G ratio of 4.69 and a beta of 1.66. The company has a quick ratio of 2.29, a current ratio of 2.83 and a debt-to-equity ratio of 0.86.

TopBuild (NYSE:BLD - Get Free Report) last issued its earnings results on Tuesday, August 5th. The construction company reported $5.31 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.30 billion. During the same quarter last year, the firm earned $5.42 EPS. The business's revenue was down 5.0% on a year-over-year basis. TopBuild has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that TopBuild Corp. will post 20.97 earnings per share for the current fiscal 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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