Wedge Capital Management L L P NC Boosts Stock Holdings in TopBuild Corp. $BLD

Key Points

• Wedge Capital Management increased its holdings in TopBuild Corp. by 7.1% in Q2 2023, now owning approximately 0.12% of the company valued at $11.28 million.
• Multiple analysts have upgraded TopBuild stock ratings recently, with targets ranging from $370.00 to $444.00 and a consensus rating of Moderate Buy.
• Despite reporting earnings of $5.31 per share, which surpassed expectations, TopBuild's revenue declined by 5.0% year-over-year, totaling $1.30 billion.

Wedge Capital Management L L P NC lifted its holdings in shares of TopBuild Corp. (NYSE:BLD - Free Report) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 34,843 shares of the construction company's stock after purchasing an additional 2,312 shares during the period. Wedge Capital Management L L P NC owned about 0.12% of TopBuild worth $11,280,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. QRG Capital Management Inc. lifted its position in TopBuild by 3.8% during the 1st quarter. QRG Capital Management Inc. now owns 1,311 shares of the construction company's stock valued at $400,000 after acquiring an additional 48 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in TopBuild by 9.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,307 shares of the construction company's stock valued at $37,298,000 after acquiring an additional 10,351 shares during the period. E. Ohman J or Asset Management AB lifted its position in TopBuild by 7.0% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 81,384 shares of the construction company's stock valued at $26,347,000 after acquiring an additional 5,344 shares during the period. Tribune Investment Group LP purchased a new position in TopBuild during the 1st quarter valued at about $7,319,000. Finally, Intech Investment Management LLC lifted its position in TopBuild by 1.4% during the 1st quarter. Intech Investment Management LLC now owns 47,329 shares of the construction company's stock valued at $14,433,000 after acquiring an additional 652 shares during the period. Institutional investors own 95.67% of the company's stock.

Insider Activity

In other TopBuild news, CFO Robert M. Kuhns sold 1,350 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 14,283 shares of the company's stock, valued at approximately $6,248,384.01. This trade represents a 8.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeff M. Krestancic sold 373 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $415.00, for a total transaction of $154,795.00. Following the transaction, the insider directly owned 4,934 shares of the company's stock, valued at $2,047,610. This represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,663 shares of company stock valued at $5,709,488. Corporate insiders own 0.43% of the company's stock.

TopBuild Trading Down 1.1%

Shares of NYSE BLD traded down $4.26 during mid-day trading on Tuesday, reaching $398.43. The company had a trading volume of 239,577 shares, compared to its average volume of 365,186. The business's 50-day moving average is $407.18 and its 200-day moving average is $340.35. The company has a current ratio of 2.83, a quick ratio of 2.29 and a debt-to-equity ratio of 0.86. The stock has a market cap of $11.21 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 5.54 and a beta of 1.61. TopBuild Corp. has a 52 week low of $266.26 and a 52 week high of $445.74.

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 company had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.30 billion. During the same period in the prior year, the business earned $5.42 EPS. The firm's quarterly revenue was down 5.0% on a year-over-year basis. TopBuild has set its FY 2025 guidance at EPS. Equities analysts expect that TopBuild Corp. will post 20.97 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on BLD shares. 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. Loop Capital lifted their target price on shares of TopBuild from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Benchmark lifted their target price on shares of TopBuild from $375.00 to $444.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Evercore ISI lifted their target price on shares of TopBuild from $347.00 to $418.00 and gave the stock an "in-line" rating in a report on Wednesday, August 6th. Finally, UBS Group set a $370.00 target price on shares of TopBuild and gave the stock a "hold" rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, TopBuild presently has a consensus rating of "Moderate Buy" and an average price target of $394.67.

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.