Lazard Asset Management LLC Trims Stake in TopBuild Corp. (NYSE:BLD)

Lazard Asset Management LLC reduced its position in TopBuild Corp. (NYSE:BLD - Free Report) by 66.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,309 shares of the construction company's stock after selling 81,572 shares during the quarter. Lazard Asset Management LLC owned approximately 0.14% of TopBuild worth $12,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its holdings in shares of TopBuild by 779.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 604,155 shares of the construction company's stock worth $188,098,000 after buying an additional 535,478 shares in the last quarter. Norges Bank purchased a new position in shares of TopBuild in the fourth quarter worth $108,688,000. Interval Partners LP purchased a new position in shares of TopBuild in the fourth quarter worth $53,424,000. E. Ohman J or Asset Management AB purchased a new position in shares of TopBuild in the fourth quarter worth $23,906,000. Finally, Invesco Ltd. lifted its holdings in shares of 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 buying an additional 75,713 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Steven P. Raia sold 1,738 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $310.98, for a total value of $540,483.24. Following the sale, the insider now owns 7,007 shares of the company's stock, valued at approximately $2,179,036.86. This represents a 19.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.43% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of TopBuild in a report on Tuesday, April 1st. They issued a "buy" rating and a $356.00 target price on the stock. Loop Capital lowered their target price on shares of TopBuild from $370.00 to $360.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. 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 report on Monday, March 3rd. Stephens lowered their target price 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. Finally, Truist Financial decreased their price target on shares of TopBuild from $395.00 to $310.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $380.22.

TopBuild Price Performance

TopBuild stock traded up $7.69 during mid-day trading on Friday, reaching $304.11. 256,848 shares of the company's stock traded hands, compared to its average volume of 314,222. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.82 and a beta of 1.72. The stock has a 50 day moving average of $296.72 and a two-hundred day moving average of $324.62. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.64. TopBuild Corp. has a 12-month low of $266.26 and a 12-month high of $495.68.

TopBuild (NYSE:BLD - Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. TopBuild had a net margin of 11.66% and a return on equity of 26.40%. TopBuild's revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.81 earnings per share. Equities analysts forecast that TopBuild Corp. will post 20.97 earnings per share for the current year.

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.