TopBuild Corp. (NYSE:BLD) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. trimmed its position in shares of TopBuild Corp. (NYSE:BLD) by 26.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,648 shares of the construction company’s stock after selling 32,109 shares during the period. Point72 Asset Management L.P.’s holdings in TopBuild were worth $34,924,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in TopBuild during the second quarter worth $4,250,000. Distillate Capital Partners LLC acquired a new stake in shares of TopBuild in the second quarter valued at $13,832,000. Point72 DIFC Ltd acquired a new stake in shares of TopBuild in the second quarter valued at $959,000. Magnetar Financial LLC acquired a new stake in shares of TopBuild in the second quarter valued at $1,937,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of TopBuild in the second quarter valued at $202,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BLD. Stephens reduced 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. Jefferies Financial Group increased their price objective on TopBuild from $486.00 to $536.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. DA Davidson reduced 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 reduced 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. Finally, StockNews.com raised TopBuild from a “hold” rating to a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $449.00.

TopBuild Stock Performance

Shares of BLD stock opened at $400.17 on Friday. The stock’s 50-day moving average is $401.54 and its two-hundred day moving average is $406.98. The firm has a market cap of $12.73 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 2.53 and a beta of 1.77. TopBuild Corp. has a 1 year low of $217.08 and a 1 year high of $495.68. 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 issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $5.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.68 by ($0.26). The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.40 billion. TopBuild had a return on equity of 25.72% and a net margin of 11.74%. The business’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 business posted $5.25 EPS. Analysts predict that TopBuild Corp. will post 21.18 earnings per share for the current 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.