Renaissance Investment Group LLC Sells 1,490 Shares of TopBuild Corp. (NYSE:BLD)

Key Points

• Renaissance Investment Group LLC has reduced its stake in TopBuild Corp. by 36.6%, now holding 2,585 shares valued at approximately $788,000.
• Multiple analysts have increased their target prices for TopBuild, with Loop Capital and Bank of America setting their prices at $400.00 and giving a "buy" rating as of July 9th.
• The latest earnings report revealed that TopBuild Corp. reported an EPS of $4.63, exceeding estimates, but revenue declined by 3.6% year-over-year.

Renaissance Investment Group LLC reduced its stake in shares of TopBuild Corp. (NYSE:BLD - Free Report) by 36.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,585 shares of the construction company's stock after selling 1,490 shares during the quarter. Renaissance Investment Group LLC's holdings in TopBuild were worth $788,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BLD. Parallel Advisors LLC boosted its position in TopBuild by 111.5% during the 1st quarter. Parallel Advisors LLC now owns 129 shares of the construction company's stock worth $39,000 after acquiring an additional 68 shares during the period. Rossby Financial LCC bought a new position in TopBuild during the first quarter valued at about $50,000. MassMutual Private Wealth & Trust FSB boosted its stake in TopBuild by 240.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 187 shares of the construction company's stock valued at $57,000 after buying an additional 132 shares in the last quarter. Raiffeisen Bank International AG bought a new position in TopBuild during the fourth quarter valued at about $81,000. Finally, Signaturefd LLC lifted its holdings in shares of TopBuild by 170.1% during the first 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. 95.67% of the stock is currently owned by institutional investors.

Insider Activity at TopBuild

In other TopBuild news, insider Steven P. Raia sold 1,738 shares of the firm'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 completion of the sale, the insider owned 7,007 shares in the company, valued at approximately $2,179,036.86. This trade represents a 19.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.43% of the company's stock.

TopBuild Stock Up 1.7%

Shares of NYSE BLD traded up $6.27 during mid-day trading on Friday, reaching $376.70. 351,543 shares of the company traded hands, compared to its average volume of 361,779. The company's fifty day moving average is $330.99 and its two-hundred day moving average is $316.73. TopBuild Corp. has a fifty-two week low of $266.26 and a fifty-two week high of $436.99. The stock has a market cap of $10.77 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 4.83 and a beta of 1.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.47 and a current ratio of 2.02.

TopBuild (NYSE:BLD - Get Free Report) last announced its 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 return on equity of 28.52% and a net margin of 11.23%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the company earned $4.81 EPS. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. On average, analysts expect that TopBuild Corp. will post 20.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BLD. Stephens reduced their target price on TopBuild from $340.00 to $320.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. upped their target price on TopBuild from $344.00 to $398.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Bank of America upped their target price on TopBuild from $320.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Loop Capital upped their target price on TopBuild from $360.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, 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 report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, TopBuild presently has an average rating of "Moderate Buy" and an average target price of $387.27.

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.