VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $3.07 Million Investment in TopBuild Corp. $BLD

Key Points

• Virginia Retirement Systems purchased a new stake in TopBuild Corp. valued at approximately $3.07 million during the second quarter.
• Analysts have raised price targets for TopBuild, with Bank of America setting a new target of $400 and Goldman Sachs increasing theirs to $510, reflecting a positive outlook for the company's stock.
• Despite a slight year-over-year revenue decline of 5%, TopBuild reported earnings per share of $5.31, surpassing analyst expectations.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of TopBuild Corp. (NYSE:BLD - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,481 shares of the construction company's stock, valued at approximately $3,069,000.

Several other hedge funds have also modified their holdings of the stock. Secure Asset Management LLC lifted its holdings in TopBuild by 1.3% in the second quarter. Secure Asset Management LLC now owns 2,169 shares of the construction company's stock valued at $702,000 after buying an additional 27 shares during the period. UMB Bank n.a. raised its holdings in TopBuild by 8.0% in the second quarter. UMB Bank n.a. now owns 364 shares of the construction company's stock worth $118,000 after purchasing an additional 27 shares during the period. Kingswood Wealth Advisors LLC raised its holdings in TopBuild by 3.3% in the second quarter. Kingswood Wealth Advisors LLC now owns 1,111 shares of the construction company's stock worth $360,000 after purchasing an additional 36 shares during the period. Enhancing Capital LLC raised its holdings in TopBuild by 1.8% in the first quarter. Enhancing Capital LLC now owns 2,212 shares of the construction company's stock worth $675,000 after purchasing an additional 39 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of TopBuild by 21.7% during the second quarter. Blue Trust Inc. now owns 224 shares of the construction company's stock worth $73,000 after acquiring an additional 40 shares during the period. 95.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BLD has been the topic of a number of research analyst reports. Bank of America raised their price objective on shares of TopBuild from $320.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Weiss Ratings restated a "hold (c+)" rating on shares of TopBuild in a report on Wednesday, October 8th. The Goldman Sachs Group raised their target price on shares of TopBuild from $450.00 to $510.00 and gave the company a "buy" rating in a research report on Thursday, October 9th. Seaport Res Ptn raised shares of TopBuild from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of TopBuild from $344.00 to $398.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $402.91.

TopBuild Stock Up 1.3%

Shares of NYSE BLD opened at $440.83 on Tuesday. The firm has a market cap of $12.40 billion, a PE ratio of 21.71, a P/E/G ratio of 4.55 and a beta of 1.66. TopBuild Corp. has a 12-month low of $266.26 and a 12-month high of $445.94. The company's fifty day simple moving average is $419.00 and its 200 day simple moving average is $355.38. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.07 by $0.24. TopBuild had a net margin of 11.40% and a return on equity of 28.32%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the firm earned $5.42 earnings per share. TopBuild's revenue was down 5.0% on a year-over-year basis. TopBuild has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that TopBuild Corp. will post 20.97 earnings per share for the current fiscal year.

Insider Buying and Selling at TopBuild

In other TopBuild news, CFO Robert M. Kuhns sold 2,000 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $416.10, for a total transaction of $832,200.00. Following the transaction, the chief financial officer owned 15,633 shares in the company, valued at approximately $6,504,891.30. This represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeff M. Krestancic sold 373 shares of the 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 completion of the sale, the insider 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. In the last three months, insiders have sold 13,663 shares of company stock worth $5,709,488. Corporate insiders own 0.43% of the company's stock.

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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