Renaissance Group LLC Increases Stock Position in TopBuild Corp. $BLD

Renaissance Group LLC raised its stake in shares of TopBuild Corp. (NYSE:BLD) by 9.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,507 shares of the construction company’s stock after acquiring an additional 1,584 shares during the period. Renaissance Group LLC owned approximately 0.07% of TopBuild worth $7,234,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MAI Capital Management boosted its position in shares of TopBuild by 28.3% during the 2nd quarter. MAI Capital Management now owns 118 shares of the construction company’s stock worth $38,000 after purchasing an additional 26 shares during the period. CWM LLC lifted its stake in TopBuild by 6.6% during the third quarter. CWM LLC now owns 419 shares of the construction company’s stock worth $164,000 after purchasing an additional 26 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in TopBuild by 0.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,724 shares of the construction company’s stock worth $1,457,000 after purchasing an additional 31 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of TopBuild by 31.7% during the third quarter. Bessemer Group Inc. now owns 133 shares of the construction company’s stock worth $52,000 after buying an additional 32 shares during the period. Finally, Park Avenue Securities LLC grew its stake in shares of TopBuild by 3.5% in the third quarter. Park Avenue Securities LLC now owns 979 shares of the construction company’s stock valued at $383,000 after buying an additional 33 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on BLD. Wells Fargo & Company increased their target price on TopBuild from $500.00 to $540.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Vertical Research started coverage on shares of TopBuild in a research note on Tuesday, October 21st. They set a “buy” rating and a $517.96 price target on the stock. Weiss Ratings raised shares of TopBuild from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Benchmark raised their price objective on shares of TopBuild from $444.00 to $515.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, 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 for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $439.73.

TopBuild Stock Performance

Shares of BLD opened at $517.35 on Friday. TopBuild Corp. has a 1 year low of $266.26 and a 1 year high of $521.10. The stock has a market capitalization of $14.52 billion, a PE ratio of 26.26, a PEG ratio of 8.10 and a beta of 1.70. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.45 and a current ratio of 2.90. The stock has a 50-day simple moving average of $454.98 and a 200-day simple moving average of $430.92.

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

Insider Activity at TopBuild

In other TopBuild news, VP Luis Francisco Machado sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $450.40, for a total value of $450,400.00. Following the sale, the vice president directly owned 9,349 shares of the company’s stock, valued at approximately $4,210,789.60. This represents a 9.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.43% of the company’s stock.

About TopBuild

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.