Principal Financial Group Inc. Grows Stock Position in TopBuild Corp. (NYSE:BLD)

Principal Financial Group Inc. grew its position in shares of TopBuild Corp. (NYSE:BLD) by 12.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,962 shares of the construction company’s stock after buying an additional 14,865 shares during the period. Principal Financial Group Inc.’s holdings in TopBuild were worth $51,612,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake in TopBuild by 0.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 6,176 shares of the construction company’s stock worth $2,379,000 after purchasing an additional 23 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of TopBuild by 2.4% in the fourth quarter. Panagora Asset Management Inc. now owns 1,102 shares of the construction company’s stock worth $412,000 after buying an additional 26 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in TopBuild by 1.7% during the first quarter. Nations Financial Group Inc. IA ADV now owns 1,655 shares of the construction company’s stock valued at $729,000 after buying an additional 27 shares during the period. Andina Capital Management LLC grew its position in TopBuild by 3.2% during the second quarter. Andina Capital Management LLC now owns 870 shares of the construction company’s stock worth $335,000 after buying an additional 27 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in TopBuild by 10.3% in the 2nd quarter. Fifth Third Bancorp now owns 332 shares of the construction company’s stock worth $128,000 after acquiring an additional 31 shares during the last quarter. Institutional investors own 95.67% of the company’s stock.

Analysts Set New Price Targets

BLD has been the subject of a number of research analyst reports. Truist Financial dropped their price target on TopBuild from $410.00 to $395.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Stephens dropped their target price 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. Evercore ISI decreased their price target on shares of TopBuild from $555.00 to $489.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Benchmark raised their price objective on shares of TopBuild from $450.00 to $470.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, DA Davidson cut their target price on shares of TopBuild from $470.00 to $460.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $449.00.

Insider Buying and Selling at TopBuild

In other news, CEO Robert M. Buck sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $418.05, for a total value of $1,045,125.00. Following the transaction, the chief executive officer now owns 69,468 shares in the company, valued at $29,041,097.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

TopBuild Price Performance

BLD stock opened at $393.02 on Friday. The firm’s fifty day moving average is $407.19 and its 200 day moving average is $408.83. TopBuild Corp. has a 52 week low of $217.08 and a 52 week high of $495.68. The firm has a market cap of $12.51 billion, a P/E ratio of 19.81, a P/E/G ratio of 2.10 and a beta of 1.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.33 and a current ratio of 2.81.

TopBuild (NYSE:BLD) last released its earnings results on Tuesday, August 6th. The construction company reported $5.42 earnings per share for the quarter, missing analysts’ consensus estimates of $5.68 by ($0.26). TopBuild had a net margin of 12.11% and a return on equity of 25.87%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm posted $5.25 EPS. The company’s revenue was up 3.7% on a year-over-year basis. Research analysts predict that TopBuild Corp. will post 21.63 earnings per share for the current year.

TopBuild Profile

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.