California Public Employees Retirement System Decreases Position in TopBuild Corp. $BLD

California Public Employees Retirement System trimmed its position in TopBuild Corp. (NYSE:BLD) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 58,728 shares of the construction company’s stock after selling 1,570 shares during the period. California Public Employees Retirement System’s holdings in TopBuild were worth $20,631,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BLD. Kera Capital Partners Inc. boosted its stake in shares of TopBuild by 3.3% in the first quarter. Kera Capital Partners Inc. now owns 789 shares of the construction company’s stock worth $277,000 after acquiring an additional 25 shares during the last quarter. Bessemer Group Inc. lifted its holdings in TopBuild by 7.9% in the 1st quarter. Bessemer Group Inc. now owns 328 shares of the construction company’s stock valued at $115,000 after purchasing an additional 24 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in TopBuild by 33.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 7,113 shares of the construction company’s stock worth $2,499,000 after purchasing an additional 1,785 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in TopBuild by 14.3% during the 1st quarter. Sanctuary Advisors LLC now owns 2,617 shares of the construction company’s stock worth $919,000 after purchasing an additional 327 shares during the last quarter. Finally, Calamos Advisors LLC grew its holdings in shares of TopBuild by 68.9% during the first quarter. Calamos Advisors LLC now owns 8,585 shares of the construction company’s stock worth $3,016,000 after buying an additional 3,502 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

TopBuild Price Performance

Shares of NYSE BLD opened at $354.53 on Thursday. The company has a 50 day simple moving average of $391.10 and a 200-day simple moving average of $422.03. The company has a market capitalization of $9.94 billion, a P/E ratio of 19.92, a P/E/G ratio of 4.80 and a beta of 1.80. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.00 and a quick ratio of 1.41. TopBuild Corp. has a 1 year low of $321.67 and a 1 year high of $559.47.

TopBuild (NYSE:BLD) last released its quarterly earnings results on Tuesday, May 5th. The construction company reported $3.75 EPS for the quarter, beating the consensus estimate of $3.64 by $0.11. TopBuild had a net margin of 8.95% and a return on equity of 23.53%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the company earned $4.63 EPS. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, equities research analysts predict that TopBuild Corp. will post 18.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BLD shares. Seaport Research Partners reiterated a “neutral” rating on shares of TopBuild in a research report on Tuesday, April 7th. DA Davidson reaffirmed a “neutral” rating and set a $437.00 price objective (down from $465.00) on shares of TopBuild in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of TopBuild in a report on Tuesday, June 9th. Evercore set a $360.00 target price on shares of TopBuild in a research note on Monday, June 29th. Finally, Loop Capital cut TopBuild from a “buy” rating to a “hold” rating and set a $485.00 target price on the stock. in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $465.00.

About TopBuild

TopBuild Corp. (NYSE: BLD) is a leading installer and distributor of insulation and building material products serving primarily the U.S. construction market. Headquartered in Daytona Beach, Florida, the company was formed in 2011 as a spin-off from ABF Freight System and has since grown through a combination of organic expansion and targeted acquisitions. TopBuild’s core mission is to enhance energy efficiency and comfort in new residential and light commercial construction projects by providing comprehensive insulation solutions and related services.

The company operates through two main segments.