Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in TopBuild Corp. (NYSE:BLD)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in TopBuild Corp. by 14.6%, owning 13,735 shares valued at approximately $4.19 million after purchasing an additional 1,755 shares in the first quarter.
• TopBuild recently reported earnings of $4.63 per share, exceeding analysts' expectations, although the company's revenue decreased by 3.6% year-over-year.
• Institutional investors and hedge funds now hold 95.67% of TopBuild's stock, reflecting a strong interest from major financial players in the company.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in TopBuild Corp. (NYSE:BLD - Free Report) by 14.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,735 shares of the construction company's stock after buying an additional 1,755 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in TopBuild were worth $4,188,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HB Wealth Management LLC purchased a new position in shares of TopBuild in the first quarter worth $213,000. Assetmark Inc. increased its position in TopBuild by 8.2% in the first quarter. Assetmark Inc. now owns 16,445 shares of the construction company's stock worth $5,015,000 after purchasing an additional 1,246 shares during the last quarter. Avantax Advisory Services Inc. bought a new stake in TopBuild in the first quarter worth $211,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in TopBuild in the first quarter worth $4,024,000. Finally, Gallacher Capital Management LLC bought a new stake in TopBuild in the first quarter worth $460,000. Hedge funds and other institutional investors own 95.67% of the company's stock.

TopBuild Stock Up 2.4%

Shares of BLD traded up $8.87 during mid-day trading on Monday, hitting $385.17. 272,106 shares of the company traded hands, compared to its average volume of 362,674. TopBuild Corp. has a 1-year low of $266.26 and a 1-year high of $435.29. The company has a quick ratio of 1.47, a current ratio of 2.02 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $11.01 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 4.84 and a beta of 1.63. The business has a 50 day moving average of $332.91 and a 200 day moving average of $316.64.

TopBuild (NYSE:BLD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The construction company reported $4.63 earnings per share for the quarter, topping analysts' consensus estimates of $4.43 by $0.20. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. TopBuild had a net margin of 11.23% and a return on equity of 28.52%. The business's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.81 earnings per share. Equities research analysts anticipate that TopBuild Corp. will post 20.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. DA Davidson reduced their price target on shares of TopBuild from $435.00 to $395.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of TopBuild from $344.00 to $398.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Bank of America upped their price target on shares of TopBuild from $320.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Loop Capital upped their price target on shares of TopBuild from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Stephens cut their price target on shares of TopBuild from $340.00 to $320.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $387.27.

Insider Buying and Selling at TopBuild

In other news, insider Steven P. Raia sold 1,738 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $310.98, for a total transaction of $540,483.24. Following the transaction, the insider owned 7,007 shares in the company, valued at $2,179,036.86. This trade represents a 19.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.43% of the stock is owned by insiders.

TopBuild 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.