Toronto Dominion Bank Raises Stake in TopBuild Corp. (NYSE:BLD)

Toronto Dominion Bank grew its stake in TopBuild Corp. (NYSE:BLD) by 39.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,213 shares of the construction company’s stock after purchasing an additional 626 shares during the period. Toronto Dominion Bank’s holdings in TopBuild were worth $853,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC grew its stake in shares of TopBuild by 18.2% during the 1st quarter. Lazard Asset Management LLC now owns 168,423 shares of the construction company’s stock worth $74,228,000 after purchasing an additional 25,973 shares during the period. Forge First Asset Management Inc. acquired a new position in TopBuild during the first quarter worth approximately $16,158,000. Nordea Investment Management AB boosted its holdings in TopBuild by 4,820.9% in the first quarter. Nordea Investment Management AB now owns 28,984 shares of the construction company’s stock valued at $12,825,000 after acquiring an additional 28,395 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of TopBuild by 53.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 376,725 shares of the construction company’s stock worth $140,993,000 after purchasing an additional 130,563 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of TopBuild by 44.8% in the fourth quarter. Wellington Management Group LLP now owns 22,248 shares of the construction company’s stock worth $8,327,000 after acquiring an additional 6,887 shares in the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BLD shares. Truist Financial dropped their target price on TopBuild from $410.00 to $395.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Stephens lowered their price objective on shares of 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 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 note on Friday, August 9th. StockNews.com downgraded TopBuild from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Evercore ISI lowered their price target on TopBuild from $555.00 to $489.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $449.00.

TopBuild Trading Down 0.7 %

TopBuild stock opened at $406.37 on Tuesday. TopBuild Corp. has a one year low of $217.08 and a one year high of $495.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.34 and a quick ratio of 1.82. The company’s fifty day moving average price is $399.77 and its two-hundred day moving average price is $407.01. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.53 and a beta of 1.77.

TopBuild (NYSE:BLD) last issued its quarterly 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 11.74% and a return on equity of 25.72%. 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 company earned $5.25 earnings per share. TopBuild’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts forecast that TopBuild Corp. will post 21.18 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.