Citigroup Inc. Increases Stock Position in TopBuild Corp. (NYSE:BLD)

Citigroup Inc. lifted its holdings in shares of TopBuild Corp. (NYSE:BLD) by 41.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,877 shares of the construction company’s stock after purchasing an additional 9,087 shares during the period. Citigroup Inc. owned about 0.10% of TopBuild worth $12,561,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BLD. Vaughan Nelson Investment Management L.P. purchased a new position in TopBuild during the third quarter worth $114,220,000. Jennison Associates LLC raised its stake in TopBuild by 2,833.6% in the 3rd quarter. Jennison Associates LLC now owns 114,030 shares of the construction company’s stock valued at $46,389,000 after purchasing an additional 110,143 shares during the last quarter. Natixis Advisors LLC purchased a new position in TopBuild in the 3rd quarter valued at about $41,981,000. Liontrust Investment Partners LLP boosted its stake in shares of TopBuild by 21.1% during the 2nd quarter. Liontrust Investment Partners LLP now owns 332,050 shares of the construction company’s stock worth $127,929,000 after purchasing an additional 57,880 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of TopBuild by 37.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 178,824 shares of the construction company’s stock worth $72,747,000 after buying an additional 48,562 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BLD. Evercore ISI reduced their price objective on shares of TopBuild from $491.00 to $443.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. StockNews.com upgraded TopBuild from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. DA Davidson lowered their price target on TopBuild from $460.00 to $450.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Truist Financial cut their price objective 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, Stephens dropped their price target on shares of TopBuild from $435.00 to $400.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $440.44.

TopBuild Stock Up 0.5 %

Shares of TopBuild stock opened at $390.00 on Friday. The company has a fifty day moving average price of $382.18 and a 200 day moving average price of $395.81. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 0.64. TopBuild Corp. has a twelve month low of $292.20 and a twelve month high of $495.68. The stock has a market cap of $11.51 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 2.56 and a beta of 1.79.

TopBuild (NYSE:BLD) last announced its earnings results on Tuesday, November 5th. The construction company reported $5.68 EPS for the quarter, beating the consensus estimate of $5.62 by $0.06. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. TopBuild had a return on equity of 26.40% and a net margin of 11.66%. The company’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted $5.43 EPS. Equities research analysts forecast that TopBuild Corp. will post 20.99 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.