Truist Financial Corp Cuts Position in TopBuild Corp. (NYSE:BLD)

Truist Financial Corp lessened its holdings in TopBuild Corp. (NYSE:BLD) by 5.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,603 shares of the construction company’s stock after selling 221 shares during the period. Truist Financial Corp’s holdings in TopBuild were worth $1,388,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BLD. Liontrust Investment Partners LLP boosted its stake in shares of TopBuild by 21.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 332,050 shares of the construction company’s stock worth $127,929,000 after buying an additional 57,880 shares during the last quarter. Forge First Asset Management Inc. purchased a new position in TopBuild in the first quarter valued at approximately $16,158,000. Distillate Capital Partners LLC purchased a new position in TopBuild in the second quarter valued at approximately $13,832,000. Vident Advisory LLC purchased a new position in TopBuild in the first quarter valued at approximately $13,707,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in TopBuild by 29.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 130,738 shares of the construction company’s stock valued at $56,489,000 after purchasing an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Stephens dropped their price objective on TopBuild from $435.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. DA Davidson dropped their price objective on TopBuild from $470.00 to $460.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Evercore ISI dropped their price objective on TopBuild from $555.00 to $489.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Truist Financial lowered their target price on shares of TopBuild from $410.00 to $395.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Finally, Jefferies Financial Group lowered their target price on shares of TopBuild from $525.00 to $515.00 and set a “buy” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, TopBuild has a consensus rating of “Moderate Buy” and an average price target of $446.67.

TopBuild Trading Up 0.4 %

TopBuild stock opened at $386.99 on Friday. The stock has a market cap of $12.31 billion, a P/E ratio of 19.51, a PEG ratio of 2.45 and a beta of 1.77. TopBuild Corp. has a fifty-two week low of $217.08 and a fifty-two week high of $495.68. The firm’s fifty day moving average price is $387.90 and its 200-day moving average price is $405.13. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.82 and a current ratio of 2.34.

TopBuild (NYSE:BLD) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $5.42 earnings per share for the quarter, missing the consensus estimate of $5.68 by ($0.26). The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.40 billion. TopBuild had a return on equity of 25.72% and a net margin of 11.74%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $5.25 EPS. Equities research analysts forecast that TopBuild Corp. will post 21.08 earnings per share for the current fiscal year.

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.