TopBuild Corp. (NYSE:BLD) Stock Position Increased by Meeder Asset Management Inc.

Meeder Asset Management Inc. grew its stake in shares of TopBuild Corp. (NYSE:BLD) by 312.6% during the first quarter, Holdings Channel reports. The institutional investor owned 35,570 shares of the construction company’s stock after acquiring an additional 26,949 shares during the period. TopBuild makes up about 0.7% of Meeder Asset Management Inc.’s holdings, making the stock its 29th largest position. Meeder Asset Management Inc.’s holdings in TopBuild were worth $10,847,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLD. Commonwealth Equity Services LLC raised its position in shares of TopBuild by 11.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,804 shares of the construction company’s stock worth $873,000 after buying an additional 290 shares in the last quarter. Norges Bank bought a new stake in shares of TopBuild during the 4th quarter worth about $108,688,000. CIBC Private Wealth Group LLC raised its position in shares of TopBuild by 123.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,290 shares of the construction company’s stock worth $732,000 after buying an additional 1,266 shares in the last quarter. Brandywine Global Investment Management LLC raised its position in shares of TopBuild by 205.9% during the 4th quarter. Brandywine Global Investment Management LLC now owns 26,585 shares of the construction company’s stock worth $8,277,000 after buying an additional 17,895 shares in the last quarter. Finally, National Bank of Canada FI raised its position in shares of TopBuild by 183.9% during the 4th quarter. National Bank of Canada FI now owns 25,833 shares of the construction company’s stock worth $8,043,000 after buying an additional 16,735 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Bank of America boosted their price target on shares of TopBuild from $320.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their target price on shares of TopBuild from $344.00 to $398.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Stephens dropped 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. Loop Capital boosted their target price 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, DA Davidson dropped their target price on shares of TopBuild from $435.00 to $395.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $387.27.

TopBuild Stock Performance

TopBuild stock opened at $385.17 on Tuesday. The firm’s 50 day simple moving average is $325.40 and its 200-day simple moving average is $315.46. The company has a market cap of $11.01 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 4.93 and a beta of 1.64. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.02 and a quick ratio of 1.47. TopBuild Corp. has a fifty-two week low of $266.26 and a fifty-two week high of $495.68.

TopBuild (NYSE:BLD) last released its earnings results on Tuesday, May 6th. The construction company reported $4.63 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.20. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. TopBuild had a net margin of 11.23% and a return on equity of 28.52%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $4.81 earnings per share. As a group, equities research analysts predict that TopBuild Corp. will post 20.97 EPS for the current year.

Insider Buying and Selling at TopBuild

In other news, insider Steven P. Raia sold 1,738 shares of TopBuild stock in a transaction that occurred 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 transaction, the insider directly owned 7,007 shares of the company’s stock, valued at $2,179,036.86. This trade represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.43% of the stock is currently owned by company insiders.

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.