Kennedy Capital Management Inc. Sells 82,773 Shares of TopBuild Corp. (BLD)
Kennedy Capital Management Inc. decreased its holdings in shares of TopBuild Corp. (NYSE:BLD) by 14.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 494,054 shares of the construction company’s stock after selling 82,773 shares during the period. TopBuild Corp. comprises approximately 0.5% of Kennedy Capital Management Inc.’s holdings, making the stock its 16th largest position. Kennedy Capital Management Inc. owned about 1.34% of TopBuild Corp. worth $26,219,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of BLD. PNC Financial Services Group Inc. boosted its holdings in TopBuild Corp. by 0.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,311 shares of the construction company’s stock worth $250,000 after buying an additional 49 shares during the period. Louisiana State Employees Retirement System boosted its holdings in TopBuild Corp. by 0.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the construction company’s stock worth $724,000 after buying an additional 100 shares during the period. UBS Group AG boosted its holdings in TopBuild Corp. by 1.7% in the 1st quarter. UBS Group AG now owns 8,197 shares of the construction company’s stock worth $386,000 after buying an additional 137 shares during the period. Nisa Investment Advisors LLC boosted its holdings in TopBuild Corp. by 0.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 29,231 shares of the construction company’s stock worth $1,552,000 after buying an additional 200 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in TopBuild Corp. by 8.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,061 shares of the construction company’s stock worth $239,000 after buying an additional 395 shares during the period. 92.01% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Gerald Volas sold 44,356 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $56.81, for a total transaction of $2,519,864.36. Following the transaction, the chief executive officer now directly owns 149,201 shares in the company, valued at $8,476,108.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.
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Shares of TopBuild Corp. (NYSE:BLD) traded up 2.52% on Wednesday, reaching $58.19. 45,210 shares of the company traded hands. The company has a 50-day moving average of $55.43 and a 200-day moving average of $50.95. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 32.26 and a beta of 0.61. TopBuild Corp. has a 1-year low of $28.81 and a 1-year high of $59.59.
TopBuild Corp. (NYSE:BLD) last announced its earnings results on Tuesday, August 8th. The construction company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.09. TopBuild Corp. had a net margin of 3.73% and a return on equity of 9.09%. The business had revenue of $474.50 million for the quarter, compared to analyst estimates of $477.72 million. During the same quarter last year, the business earned $0.43 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Analysts anticipate that TopBuild Corp. will post $2.81 earnings per share for the current fiscal year.
BLD has been the subject of several recent analyst reports. TheStreet raised shares of TopBuild Corp. from a “c” rating to a “b-” rating in a report on Friday, June 16th. Zacks Investment Research raised shares of TopBuild Corp. from a “hold” rating to a “strong-buy” rating and set a $67.00 target price for the company in a report on Thursday, August 10th. KeyCorp reaffirmed an “overweight” rating and issued a $59.00 target price (up previously from $56.00) on shares of TopBuild Corp. in a report on Monday, June 26th. Instinet upped their target price on shares of TopBuild Corp. from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, May 10th. Finally, BidaskClub downgraded shares of TopBuild Corp. from a “strong-buy” rating to a “buy” rating in a report on Friday, August 25th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $54.60.
TopBuild Corp. Profile
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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