State of Michigan Retirement System Cuts Stock Position in TopBuild Corp. $BLD

State of Michigan Retirement System lessened its position in shares of TopBuild Corp. (NYSE:BLD) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,857 shares of the construction company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in TopBuild were worth $2,220,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Chicago Partners Investment Group LLC acquired a new position in shares of TopBuild during the second quarter worth $189,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of TopBuild by 3.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 20,877 shares of the construction company’s stock worth $6,758,000 after purchasing an additional 663 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in TopBuild by 9.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,307 shares of the construction company’s stock worth $37,298,000 after buying an additional 10,351 shares during the last quarter. E. Ohman J or Asset Management AB increased its position in TopBuild by 7.0% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 81,384 shares of the construction company’s stock valued at $26,347,000 after buying an additional 5,344 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in TopBuild by 1.4% in the first quarter. Intech Investment Management LLC now owns 47,329 shares of the construction company’s stock valued at $14,433,000 after buying an additional 652 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

TopBuild Trading Down 3.2%

NYSE BLD opened at $405.64 on Thursday. TopBuild Corp. has a 1 year low of $266.26 and a 1 year high of $461.49. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.90 and a quick ratio of 2.29. The company has a market capitalization of $11.41 billion, a PE ratio of 20.59, a P/E/G ratio of 4.38 and a beta of 1.64. The company has a fifty day moving average of $420.21 and a 200 day moving average of $367.85.

TopBuild (NYSE:BLD) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.36 earnings per share for the quarter, beating analysts’ consensus estimates of $5.22 by $0.14. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.38 billion. TopBuild had a return on equity of 27.10% and a net margin of 10.84%.The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $5.68 EPS. TopBuild has set its FY 2025 guidance at EPS. Research analysts forecast that TopBuild Corp. will post 20.97 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BLD shares. Evercore ISI dropped their price target on TopBuild from $449.00 to $448.00 and set an “in-line” rating on the stock in a research note on Wednesday. UBS Group set a $370.00 target price on shares of TopBuild and gave the stock a “hold” rating in a research note on Tuesday, August 5th. Truist Financial upped their price target on shares of TopBuild from $370.00 to $390.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. DA Davidson lifted their price objective on shares of TopBuild from $465.00 to $485.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of TopBuild from $344.00 to $398.00 and gave the company an “overweight” rating in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $425.83.

Insiders Place Their Bets

In other TopBuild news, CFO Robert M. Kuhns sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $416.10, for a total value of $832,200.00. Following the completion of the transaction, the chief financial officer directly owned 15,633 shares of the company’s stock, valued at approximately $6,504,891.30. The trade was a 11.34% 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. Corporate insiders own 0.43% of the company’s stock.

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.