Federated Hermes Inc. Raises Stake in TopBuild Corp. $BLD

Federated Hermes Inc. lifted its stake in shares of TopBuild Corp. (NYSE:BLD) by 34.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,113 shares of the construction company’s stock after acquiring an additional 2,354 shares during the period. Federated Hermes Inc.’s holdings in TopBuild were worth $3,562,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BLD. Bank of America Corp DE raised its stake in TopBuild by 14.8% during the second quarter. Bank of America Corp DE now owns 847,436 shares of the construction company’s stock worth $274,349,000 after purchasing an additional 109,572 shares during the period. Boston Partners grew its stake in shares of TopBuild by 102.2% in the 2nd quarter. Boston Partners now owns 774,161 shares of the construction company’s stock valued at $250,872,000 after buying an additional 391,299 shares during the period. Orion Porfolio Solutions LLC increased its holdings in shares of TopBuild by 7,961.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 395,747 shares of the construction company’s stock worth $128,119,000 after buying an additional 390,838 shares during the last quarter. Liontrust Investment Partners LLP raised its position in shares of TopBuild by 24.8% during the 2nd quarter. Liontrust Investment Partners LLP now owns 376,396 shares of the construction company’s stock valued at $121,854,000 after buying an additional 74,695 shares during the period. Finally, Norges Bank purchased a new stake in shares of TopBuild during the 2nd quarter valued at approximately $110,238,000. Institutional investors and hedge funds own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BLD shares. Truist Financial increased their price objective on TopBuild from $370.00 to $390.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Wells Fargo & Company raised their price objective on TopBuild from $500.00 to $540.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada began coverage on shares of TopBuild in a report on Thursday, November 20th. They issued a “sector perform” rating and a $410.00 price objective on the stock. The Goldman Sachs Group increased their target price on shares of TopBuild from $450.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Finally, Jefferies Financial Group lifted their price target on shares of TopBuild from $518.00 to $536.00 and gave the company a “buy” rating in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $439.73.

Insider Buying and Selling

In other news, VP Luis Francisco Machado sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $450.40, for a total transaction of $450,400.00. Following the sale, the vice president owned 9,349 shares of the company’s stock, valued at approximately $4,210,789.60. This represents a 9.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.43% of the stock is owned by corporate insiders.

TopBuild Price Performance

BLD opened at $479.91 on Wednesday. The stock’s 50-day moving average price is $452.11 and its 200 day moving average price is $428.88. TopBuild Corp. has a 12-month low of $266.26 and a 12-month high of $509.36. The firm has a market cap of $13.47 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 7.66 and a beta of 1.70. The company has a current ratio of 2.90, a quick ratio of 2.45 and a debt-to-equity ratio of 1.26.

TopBuild (NYSE:BLD) last issued its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.22 by $0.14. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. TopBuild had a net margin of 10.84% and a return on equity of 27.10%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.68 earnings per share. As a group, sell-side analysts expect that TopBuild Corp. will post 20.97 earnings per share for the current year.

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.