Distillate Capital Partners LLC has decreased its stake in TopBuild Corp. (NYSE: BLD) by 4.9% during the second quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The institutional investor now holds 43,361 shares of the construction company, having sold 2,223 shares during this period. As of the latest filing, Distillate’s ownership is valued at approximately $14.04 million, representing about 0.15% of TopBuild’s total shares.
This change in ownership comes as several large institutional investors have been actively managing their positions in TopBuild. For instance, MAI Capital Management increased its holdings in the company by 28.3%, now owning 118 shares valued at $38,000 after purchasing an additional 26 shares. Similarly, Secure Asset Management LLC raised its stake by 1.3%, acquiring 2,169 shares worth $702,000 after buying 27 more shares. UMB Bank n.a. boosted its position by 8.0%, while Franklin Resources Inc. and Kingswood Wealth Advisors LLC also increased their stakes in the company during the same quarter.
As of now, institutional investors and hedge funds collectively own 95.67% of TopBuild’s stock, indicating a strong institutional presence in the company.
Analysts’ Ratings and Price Performance
Recent analyses from various equities analysts have provided insights into TopBuild’s stock performance. The Goldman Sachs Group recently revised its price target for TopBuild from $450.00 to $510.00, maintaining a “buy” rating. Additionally, the Royal Bank of Canada initiated coverage with a “sector perform” rating and a price target of $410.00. UBS Group set a target of $370.00 with a “hold” rating, while Benchmark raised their price objective from $444.00 to $515.00, also issuing a “buy” rating.
Currently, the consensus among analysts indicates two have rated the stock as a Strong Buy, eight as Buy, and six as Hold. According to MarketBeat, TopBuild has an average rating of “Moderate Buy” with a consensus target price of $430.00.
TopBuild’s share price opened at $446.45 on the New York Stock Exchange on Tuesday. The company’s stock has experienced significant fluctuations over the past year, with a low of $266.26 and a high of $461.49. The firm boasts a market capitalization of $12.53 billion, a price-to-earnings ratio of 22.66, and a beta of 1.67.
Recent Earnings and Insider Activity
On November 4, TopBuild reported a quarterly earnings per share of $5.36, surpassing analysts’ expectations of $5.22 by $0.14. The company generated $1.39 billion in revenue for the quarter, slightly exceeding predictions of $1.38 billion. This represents a modest increase of 1.4% compared to the same period last year.
In addition to institutional trading, insider activity has also been noted. Vice President Luis Francisco Machado sold 1,000 shares on November 26 at an average price of $450.40, resulting in a total sale value of $450,400. Following this transaction, Machado retains 9,349 shares of TopBuild, valued at approximately $4.21 million, reflecting a 9.66% decrease in ownership.
Overall, TopBuild Corp. continues to be a focal point for both institutional investors and market analysts, highlighting its significance in the construction sector. The company specializes in the installation and distribution of insulation and other building materials, operating through its Installation and Specialty Distribution segments.
Investors remain attentive to the evolving market dynamics and the performance of TopBuild as it moves through the current fiscal year.
