Zurcher Kantonalbank Zurich Cantonalbank Buys 1,755 Shares of 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 lifted its stake in shares of 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 & Exchange Commission. The fund owned 13,735 shares of the construction company's stock after acquiring an additional 1,755 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in TopBuild were worth $4,188,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Parallel Advisors LLC grew its stake in TopBuild by 111.5% during the 1st quarter. Parallel Advisors LLC now owns 129 shares of the construction company's stock valued at $39,000 after purchasing an additional 68 shares in the last quarter. Rossby Financial LCC acquired a new stake in TopBuild during the 1st quarter valued at approximately $50,000. MassMutual Private Wealth & Trust FSB grew its position in shares of TopBuild by 240.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 187 shares of the construction company's stock worth $57,000 after acquiring an additional 132 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of TopBuild in the 4th quarter worth approximately $81,000. Finally, Signaturefd LLC grew its position in shares of TopBuild by 170.1% in the 1st quarter. Signaturefd LLC now owns 262 shares of the construction company's stock worth $80,000 after acquiring an additional 165 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company's stock.

Insider Buying and Selling at TopBuild

In related news, insider Steven P. Raia sold 1,738 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $310.98, for a total transaction of $540,483.24. Following the completion of the transaction, the insider owned 7,007 shares of the company's stock, valued at approximately $2,179,036.86. The trade was a 19.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.43% of the company's stock.

TopBuild Stock Up 1.4%

BLD traded up $5.28 during trading on Friday, reaching $375.71. 570,268 shares of the stock traded hands, compared to its average volume of 411,648. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of 19.00, a price-to-earnings-growth ratio of 4.84 and a beta of 1.63. TopBuild Corp. has a fifty-two week low of $266.26 and a fifty-two week high of $436.99. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.02 and a quick ratio of 1.47. The stock's 50-day simple moving average is $332.91 and its two-hundred day simple moving average is $316.84.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on BLD. Bank of America raised their price target on TopBuild from $320.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. DA Davidson cut their target price on TopBuild from $435.00 to $395.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Loop Capital lifted their target price on TopBuild from $360.00 to $400.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Stephens cut their target price on TopBuild from $340.00 to $320.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their target price on TopBuild from $344.00 to $398.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $387.27.

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.