Hsbc Holdings PLC Sells 2,911 Shares of TopBuild Corp. (NYSE:BLD)

Hsbc Holdings PLC cut its position in shares of TopBuild Corp. (NYSE:BLD - Free Report) by 50.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,888 shares of the construction company's stock after selling 2,911 shares during the period. Hsbc Holdings PLC's holdings in TopBuild were worth $899,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in TopBuild in the fourth quarter valued at approximately $108,688,000. E. Ohman J or Asset Management AB acquired a new stake in shares of TopBuild in the 4th quarter valued at $23,906,000. Invesco Ltd. boosted its holdings in TopBuild by 14.6% in the fourth quarter. Invesco Ltd. now owns 595,338 shares of the construction company's stock worth $185,353,000 after purchasing an additional 75,713 shares in the last quarter. Jackson Square Partners LLC acquired a new position in TopBuild during the fourth quarter worth $19,462,000. Finally, Victory Capital Management Inc. raised its holdings in TopBuild by 116.9% during the fourth quarter. Victory Capital Management Inc. now owns 94,567 shares of the construction company's stock valued at $29,442,000 after buying an additional 50,959 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BLD has been the subject of a number of recent analyst reports. Stephens decreased their target price on TopBuild from $340.00 to $320.00 and set an "equal weight" rating for the company in a research report on Thursday. Benchmark lowered their target price on shares of TopBuild from $445.00 to $375.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Truist Financial cut their target price on shares of TopBuild from $395.00 to $310.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft initiated coverage on TopBuild in a research report on Tuesday, April 1st. They issued a "buy" rating and a $356.00 price target on the stock. Finally, StockNews.com cut TopBuild from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, TopBuild has a consensus rating of "Moderate Buy" and an average target price of $380.22.

TopBuild Stock Performance

BLD stock traded up $6.47 during trading on Thursday, reaching $291.50. 362,019 shares of the stock were exchanged, compared to its average volume of 314,851. TopBuild Corp. has a twelve month low of $266.26 and a twelve month high of $495.68. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $8.52 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 1.82 and a beta of 1.72. The stock has a 50 day simple moving average of $296.84 and a 200-day simple moving average of $328.03.

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 (EPS) for the quarter, beating analysts' consensus estimates of $4.43 by $0.20. The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.23 billion. TopBuild had a return on equity of 26.40% and a net margin of 11.66%. TopBuild's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $4.81 earnings per share. As a group, sell-side analysts anticipate that TopBuild Corp. will post 20.97 earnings per share for the current year.

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.