Icon Advisers Inc. Co. purchased a new position in shares of TopBuild Corp. (NYSE:BLD) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,500 shares of the construction company’s stock, valued at approximately $749,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Wells Fargo & Company MN grew its holdings in TopBuild Corp. by 16.4% in the 2nd quarter. Wells Fargo & Company MN now owns 41,691 shares of the construction company’s stock valued at $2,212,000 after buying an additional 5,876 shares during the period. Fiera Capital Corp purchased a new stake in shares of TopBuild Corp. during the 2nd quarter worth about $12,805,000. Chicago Equity Partners LLC purchased a new stake in shares of TopBuild Corp. during the 2nd quarter worth about $2,599,000. Strs Ohio purchased a new stake in shares of TopBuild Corp. during the 2nd quarter worth about $440,000. Finally, State Street Corp grew its holdings in shares of TopBuild Corp. by 10.2% during the 2nd quarter. State Street Corp now owns 1,128,570 shares of the construction company’s stock worth $59,890,000 after purchasing an additional 104,562 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on BLD. ValuEngine upgraded TopBuild Corp. from a “hold” rating to a “buy” rating in a report on Friday, November 10th. KeyCorp restated an “overweight” rating on shares of TopBuild Corp. in a report on Friday, November 10th. Nomura upped their target price on TopBuild Corp. from $58.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, November 8th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $75.00 target price on shares of TopBuild Corp. in a research report on Wednesday, October 4th. Finally, BidaskClub lowered TopBuild Corp. from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 25th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $60.67.
TopBuild Corp. (NYSE:BLD) last released its quarterly earnings results on Tuesday, November 7th. The construction company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.01. TopBuild Corp. had a return on equity of 9.88% and a net margin of 4.03%. The company had revenue of $489.04 million during the quarter, compared to analysts’ expectations of $491.43 million. During the same quarter in the prior year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. research analysts expect that TopBuild Corp. will post 2.74 EPS for the current year.
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About TopBuild Corp.
TopBuild Corp. installs and distributes insulation products to the United States construction industry. The Company operates through two segments: Installation (TruTeam) and Distribution (Service Partners). Its Installation segment principally includes the sales and installation of insulation and other building products.
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