Summit Global Investments Sells 60 Shares of TopBuild Corp. (NYSE:BLD)

Summit Global Investments trimmed its holdings in shares of TopBuild Corp. (NYSE:BLD) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600 shares of the construction company’s stock after selling 60 shares during the period. Summit Global Investments’ holdings in TopBuild were worth $187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. increased its holdings in TopBuild by 5.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 19,441 shares of the construction company’s stock valued at $6,052,000 after buying an additional 966 shares during the period. Whittier Trust Co. boosted its position in TopBuild by 3.5% during the 4th quarter. Whittier Trust Co. now owns 38,739 shares of the construction company’s stock valued at $12,060,000 after acquiring an additional 1,303 shares in the last quarter. Blueshift Asset Management LLC bought a new position in shares of TopBuild in the 4th quarter worth $512,000. Teacher Retirement System of Texas raised its position in shares of TopBuild by 123.3% in the 4th quarter. Teacher Retirement System of Texas now owns 14,638 shares of the construction company’s stock worth $4,557,000 after acquiring an additional 8,084 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its stake in shares of TopBuild by 33.7% during the 4th quarter. Royal London Asset Management Ltd. now owns 133,934 shares of the construction company’s stock worth $41,699,000 after purchasing an additional 33,763 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

TopBuild Trading Down 0.7 %

NYSE BLD opened at $312.86 on Wednesday. The company has a fifty day moving average of $322.04 and a 200 day moving average of $350.23. The company has a market capitalization of $9.15 billion, a PE ratio of 15.79, a P/E/G ratio of 1.82 and a beta of 1.89. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.01 and a quick ratio of 1.49. TopBuild Corp. has a 1 year low of $288.31 and a 1 year high of $495.68.

TopBuild (NYSE:BLD) last posted its earnings results on Tuesday, February 25th. The construction company reported $5.13 EPS for the quarter, topping the consensus estimate of $5.07 by $0.06. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. TopBuild had a return on equity of 26.40% and a net margin of 11.66%. TopBuild’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $4.69 earnings per share. Research analysts forecast that TopBuild Corp. will post 20.97 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of TopBuild from $475.00 to $410.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Evercore ISI downgraded TopBuild from an “outperform” rating to an “inline” rating and reduced their price target for the stock from $443.00 to $381.00 in a research report on Monday, December 16th. Loop Capital lowered their price objective on TopBuild from $405.00 to $390.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Benchmark reduced their target price on TopBuild from $445.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, Seaport Res Ptn downgraded TopBuild from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TopBuild has an average rating of “Moderate Buy” and an average price target of $403.88.

TopBuild Profile

TopBuild Corp., together with its subsidiaries, engages in the installation and distribution of insulation and other building material products to the construction industry. The company operates in two segments, Installation and Specialty Distribution. It provides insulation products and accessories, glass and windows, rain gutters, garage doors, fireplaces, roofing materials, closet shelving, and other products.