Pictet Asset Management Holding SA Cuts Position in TopBuild Corp. $BLD

Pictet Asset Management Holding SA trimmed its stake in shares of TopBuild Corp. (NYSE:BLD) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 677,889 shares of the construction company’s stock after selling 19,158 shares during the period. Pictet Asset Management Holding SA’s holdings in TopBuild were worth $238,129,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Louisiana State Employees Retirement System purchased a new stake in shares of TopBuild in the first quarter valued at approximately $2,846,000. Silver Oak Securities Incorporated grew its holdings in shares of TopBuild by 25.6% in the first quarter. Silver Oak Securities Incorporated now owns 957 shares of the construction company’s stock valued at $336,000 after purchasing an additional 195 shares during the period. Kestra Private Wealth Services LLC acquired a new stake in TopBuild during the first quarter worth about $200,000. Fifth Third Wealth Advisors LLC grew its stake in shares of TopBuild by 3.2% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 878 shares of the construction company’s stock valued at $308,000 after buying an additional 27 shares during the period. Finally, OP Asset Management Ltd acquired a new stake in shares of TopBuild during the 1st quarter worth approximately $1,167,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

TopBuild Stock Down 0.5%

Shares of TopBuild stock opened at $424.96 on Friday. TopBuild Corp. has a one year low of $320.00 and a one year high of $559.47. The company has a market cap of $11.91 billion, a P/E ratio of 23.87, a PEG ratio of 5.77 and a beta of 1.80. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.41 and a current ratio of 2.00. The firm has a fifty day moving average of $420.78 and a two-hundred day moving average of $431.36.

TopBuild (NYSE:BLD) last posted its quarterly earnings results on Tuesday, May 5th. The construction company reported $3.75 EPS for the quarter, beating the consensus estimate of $3.64 by $0.11. TopBuild had a return on equity of 23.53% and a net margin of 8.95%.The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm earned $4.63 EPS. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, analysts forecast that TopBuild Corp. will post 18.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BLD. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $496.00 price target (up from $487.00) on shares of TopBuild in a research note on Tuesday, April 21st. Seaport Research Partners reaffirmed a “neutral” rating on shares of TopBuild in a report on Tuesday, April 7th. Weiss Ratings restated a “hold (c)” rating on shares of TopBuild in a research note on Tuesday, June 9th. Loop Capital lowered shares of TopBuild from a “buy” rating to a “hold” rating and set a $485.00 target price on the stock. in a research report on Wednesday, May 6th. Finally, Zacks Research raised shares of TopBuild from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $466.77.

TopBuild Profile

TopBuild Corp. (NYSE: BLD) is a leading installer and distributor of insulation and building material products serving primarily the U.S. construction market. Headquartered in Daytona Beach, Florida, the company was formed in 2011 as a spin-off from ABF Freight System and has since grown through a combination of organic expansion and targeted acquisitions. TopBuild’s core mission is to enhance energy efficiency and comfort in new residential and light commercial construction projects by providing comprehensive insulation solutions and related services.

The company operates through two main segments.