Comerica Bank lowered its position in shares of TopBuild Corp (NYSE:BLD) by 11.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,374 shares of the construction company’s stock after selling 4,862 shares during the quarter. Comerica Bank owned approximately 0.10% of TopBuild worth $1,666,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada increased its position in shares of TopBuild by 44.4% during the 1st quarter. Royal Bank of Canada now owns 2,600 shares of the construction company’s stock worth $199,000 after purchasing an additional 800 shares in the last quarter. Cim Investment Mangement Inc. acquired a new stake in TopBuild in the 2nd quarter valued at about $210,000. Point72 Hong Kong Ltd acquired a new stake in TopBuild in the 2nd quarter valued at about $219,000. Fox Run Management L.L.C. acquired a new stake in TopBuild in the 3rd quarter valued at about $207,000. Finally, Amalgamated Bank increased its position in TopBuild by 14.1% in the 2nd quarter. Amalgamated Bank now owns 5,791 shares of the construction company’s stock valued at $454,000 after acquiring an additional 716 shares in the last quarter. Institutional investors and hedge funds own 92.79% of the company’s stock.
BLD opened at $50.95 on Monday. TopBuild Corp has a 1-year low of $42.18 and a 1-year high of $87.21. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 18.33, a P/E/G ratio of 0.43 and a beta of 0.77.
TopBuild (NYSE:BLD) last issued its quarterly earnings results on Tuesday, November 6th. The construction company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.22 by $0.01. TopBuild had a net margin of 8.96% and a return on equity of 13.22%. The company had revenue of $647.30 million during the quarter, compared to analysts’ expectations of $643.65 million. During the same quarter in the previous year, the company earned $0.83 EPS. TopBuild’s revenue was up 32.4% on a year-over-year basis. As a group, equities research analysts forecast that TopBuild Corp will post 4.19 EPS for the current year.
BLD has been the subject of several research reports. Seaport Global Securities restated a “buy” rating and issued a $94.00 price objective on shares of TopBuild in a research report on Sunday, August 12th. Stephens restated a “buy” rating and issued a $87.00 price objective on shares of TopBuild in a research report on Thursday, August 16th. KeyCorp set a $81.00 price objective on shares of TopBuild and gave the company a “buy” rating in a research report on Monday, August 27th. ValuEngine cut shares of TopBuild from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. Finally, Macquarie lowered their price objective on shares of TopBuild from $83.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, September 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $83.30.
TopBuild Company Profile
TopBuild Corp. engages in the installation, distribution, and sale of insulation and other building products to the United States construction industry. The company operates in two segments, Installation and Distribution. It offers rain gutters, garage doors, fireplaces, fireproofing and firestopping products, shower enclosures, closet shelves, accessories, and other building products; and residential insulation services.
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