Millennium Management LLC Has $73.99 Million Stake in TopBuild Corp. (NYSE:BLD)

Millennium Management LLC lifted its position in shares of TopBuild Corp. (NYSE:BLD) by 63.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 237,646 shares of the construction company’s stock after buying an additional 92,187 shares during the period. Millennium Management LLC owned about 0.81% of TopBuild worth $73,989,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Capital Research Global Investors grew its holdings in shares of TopBuild by 1.4% in the 4th quarter. Capital Research Global Investors now owns 3,029,012 shares of the construction company’s stock valued at $943,050,000 after acquiring an additional 41,047 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in TopBuild by 4.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 871,495 shares of the construction company’s stock valued at $271,331,000 after purchasing an additional 40,916 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of TopBuild by 779.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 604,155 shares of the construction company’s stock worth $188,098,000 after purchasing an additional 535,478 shares during the last quarter. Invesco Ltd. raised its stake in shares of TopBuild by 14.6% during the 4th 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. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of TopBuild by 5.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 481,958 shares of the construction company’s stock worth $150,053,000 after purchasing an additional 23,428 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

TopBuild Stock Down 1.4%

BLD stock opened at $295.79 on Friday. TopBuild Corp. has a fifty-two week low of $266.26 and a fifty-two week high of $495.68. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.01 and a quick ratio of 1.49. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.82 and a beta of 1.72. The business’s fifty day moving average price is $296.60 and its two-hundred day moving average price is $324.98.

TopBuild (NYSE:BLD) last released its quarterly earnings results on Tuesday, May 6th. The construction company reported $4.63 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.20. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. TopBuild had a net margin of 11.66% and a return on equity of 26.40%. TopBuild’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned $4.81 earnings per share. On average, equities analysts anticipate that TopBuild Corp. will post 20.97 earnings per share for the current year.

Insider Activity at TopBuild

In related news, insider Steven P. Raia sold 1,738 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $310.98, for a total transaction of $540,483.24. Following the completion of the sale, the insider now owns 7,007 shares of the company’s stock, valued at $2,179,036.86. This represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. DA Davidson dropped 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. Truist Financial reduced their price target on TopBuild from $395.00 to $310.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft started coverage on TopBuild in a research report on Tuesday, April 1st. They set a “buy” rating and a $356.00 price target on the stock. Benchmark cut their price objective on TopBuild from $445.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, StockNews.com cut TopBuild from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $380.22.

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.