Westfield Capital Management Co. LP Takes $17.83 Million Position in TopBuild Corp. (BLD)
Westfield Capital Management Co. LP purchased a new position in TopBuild Corp. (NYSE:BLD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 336,005 shares of the construction company’s stock, valued at approximately $17,832,000. Westfield Capital Management Co. LP owned 0.91% of TopBuild Corp. as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in BLD. BlackRock Inc. lifted its stake in TopBuild Corp. by 35,157.0% in the first quarter. BlackRock Inc. now owns 5,520,188 shares of the construction company’s stock worth $259,449,000 after acquiring an additional 5,504,531 shares during the period. William Blair Investment Management LLC purchased a new stake in TopBuild Corp. in the second quarter worth $16,207,000. Dimensional Fund Advisors LP lifted its stake in TopBuild Corp. by 14.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,196,035 shares of the construction company’s stock worth $103,213,000 after acquiring an additional 275,422 shares during the period. Fiera Capital Corp purchased a new stake in TopBuild Corp. in the second quarter worth $12,805,000. Finally, Teachers Advisors LLC lifted its stake in TopBuild Corp. by 358.1% in the first quarter. Teachers Advisors LLC now owns 296,630 shares of the construction company’s stock worth $13,942,000 after acquiring an additional 231,880 shares during the period. 92.01% of the stock is owned by institutional investors.
BLD has been the subject of a number of research analyst reports. BidaskClub lowered TopBuild Corp. from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 25th. Zacks Investment Research raised TopBuild Corp. from a “hold” rating to a “strong-buy” rating and set a $67.00 price target for the company in a research note on Thursday, August 10th. TheStreet raised TopBuild Corp. from a “c” rating to a “b-” rating in a research note on Friday, June 16th. Finally, KeyCorp reiterated an “overweight” rating and issued a $59.00 price objective (up previously from $56.00) on shares of TopBuild Corp. in a report on Monday, June 26th. Three investment 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 stock. The company has an average rating of “Buy” and a consensus price target of $54.60.
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TopBuild Corp. (NYSE:BLD) traded up 0.314% during trading on Tuesday, reaching $59.175. The company’s stock had a trading volume of 4,406 shares. The firm’s 50-day moving average price is $58.69 and its 200 day moving average price is $56.58. TopBuild Corp. has a 12-month low of $28.81 and a 12-month high of $60.00. The company has a market capitalization of $2.15 billion, a P/E ratio of 32.802 and a beta of 0.61.
TopBuild Corp. (NYSE:BLD) last issued its earnings results on Tuesday, August 8th. The construction company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.09. TopBuild Corp. had a return on equity of 9.09% and a net margin of 3.73%. The business had revenue of $474.50 million during the quarter, compared to analysts’ expectations of $477.72 million. During the same period in the prior year, the business earned $0.43 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts predict that TopBuild Corp. will post $2.80 earnings per share for the current fiscal year.
In other TopBuild Corp. news, CEO Gerald Volas sold 44,356 shares of the company’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $56.81, for a total value of $2,519,864.36. Following the completion of the sale, the chief executive officer now directly owns 149,201 shares in the company, valued at approximately $8,476,108.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.
TopBuild Corp. Company 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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