Concentric Capital Strategies LP Has $2.98 Million Stake in TopBuild Corp. (NYSE:BLD)

Concentric Capital Strategies LP reduced its holdings in TopBuild Corp. (NYSE:BLD) by 36.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,317 shares of the construction company’s stock after selling 4,134 shares during the period. Concentric Capital Strategies LP’s holdings in TopBuild were worth $2,977,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of TopBuild by 9.7% in the third quarter. FMR LLC now owns 1,830,493 shares of the construction company’s stock valued at $744,663,000 after acquiring an additional 161,743 shares during the last quarter. Liontrust Investment Partners LLP increased its position 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. Vaughan Nelson Investment Management L.P. bought a new stake in shares of TopBuild during the 3rd quarter worth approximately $114,220,000. Bank of New York Mellon Corp boosted its holdings in shares of TopBuild by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 261,965 shares of the construction company’s stock valued at $100,927,000 after buying an additional 2,133 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of TopBuild by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 233,414 shares of the construction company’s stock valued at $94,955,000 after buying an additional 5,982 shares in the last quarter. 95.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on BLD shares. Jefferies Financial Group dropped their price target on shares of TopBuild from $525.00 to $515.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. DA Davidson cut their target price on shares of TopBuild from $460.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Stephens reduced their price target on TopBuild from $435.00 to $400.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Evercore ISI dropped their price objective on TopBuild from $491.00 to $443.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded TopBuild from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $440.44.

TopBuild Stock Performance

BLD opened at $389.80 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.01 and a quick ratio of 1.49. The business has a fifty day simple moving average of $381.28 and a 200 day simple moving average of $395.23. TopBuild Corp. has a 1 year low of $305.00 and a 1 year high of $495.68. The company has a market capitalization of $11.50 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 2.46 and a beta of 1.79.

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