Jennison Associates LLC Cuts Stock Holdings in TopBuild Corp. (NYSE:BLD)

Jennison Associates LLC lowered its stake in TopBuild Corp. (NYSE:BLD) by 34.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,010 shares of the construction company’s stock after selling 2,640 shares during the quarter. Jennison Associates LLC’s holdings in TopBuild were worth $1,875,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Contravisory Investment Management Inc. bought a new position in TopBuild during the fourth quarter valued at approximately $28,000. BluePath Capital Management LLC purchased a new position in shares of TopBuild in the third quarter valued at $30,000. Nomura Asset Management Co. Ltd. increased its position in TopBuild by 37.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 159 shares of the construction company’s stock worth $40,000 after purchasing an additional 43 shares during the last quarter. Headlands Technologies LLC bought a new stake in TopBuild in the third quarter worth $44,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in TopBuild during the third quarter valued at $75,000. Institutional investors own 95.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BLD shares. Bank of America boosted their target price on shares of TopBuild from $410.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Truist Financial cut TopBuild from a “buy” rating to a “hold” rating and lifted their target price for the stock from $290.00 to $410.00 in a report on Thursday, January 4th. The Goldman Sachs Group increased their price target on TopBuild from $419.00 to $429.00 and gave the company a “buy” rating in a report on Friday, March 1st. DA Davidson assumed coverage on shares of TopBuild in a research note on Tuesday, March 5th. They set a “buy” rating and a $470.00 price objective for the company. Finally, StockNews.com raised TopBuild from a “hold” rating to a “buy” rating in a research note on Saturday, April 6th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $418.90.

TopBuild Trading Up 4.1 %

Shares of NYSE:BLD opened at $407.25 on Friday. The company has a current ratio of 2.66, a quick ratio of 2.18 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $12.96 billion, a PE ratio of 21.07, a P/E/G ratio of 2.83 and a beta of 1.66. TopBuild Corp. has a 12-month low of $199.31 and a 12-month high of $452.87. The business’s fifty day simple moving average is $412.45 and its 200-day simple moving average is $352.63.

TopBuild (NYSE:BLD) last announced its earnings results on Wednesday, February 28th. The construction company reported $4.69 EPS for the quarter, topping analysts’ consensus estimates of $4.60 by $0.09. TopBuild had a net margin of 11.82% and a return on equity of 27.03%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the company posted $4.40 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts predict that TopBuild Corp. will post 21.02 earnings per share for the current fiscal year.

TopBuild Company 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.