Concentric Capital Strategies LP Sells 4,134 Shares of TopBuild Corp. (NYSE:BLD)

Concentric Capital Strategies LP cut its holdings in shares of TopBuild Corp. (NYSE:BLD) by 36.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,317 shares of the construction company’s stock after selling 4,134 shares during the period. Concentric Capital Strategies LP’s holdings in TopBuild were worth $2,977,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BLD. FMR LLC raised its holdings in shares of TopBuild by 9.7% during the 3rd quarter. FMR LLC now owns 1,830,493 shares of the construction company’s stock worth $744,663,000 after buying an additional 161,743 shares in the last quarter. Liontrust Investment Partners LLP grew its position in TopBuild by 21.1% in the second quarter. Liontrust Investment Partners LLP now owns 332,050 shares of the construction company’s stock valued at $127,929,000 after acquiring an additional 57,880 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in TopBuild during the third quarter worth about $114,220,000. Bank of New York Mellon Corp lifted its holdings in shares of TopBuild by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 261,965 shares of the construction company’s stock worth $100,927,000 after acquiring an additional 2,133 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of TopBuild by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 233,414 shares of the construction company’s stock valued at $94,955,000 after purchasing an additional 5,982 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BLD. StockNews.com raised shares of TopBuild from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Jefferies Financial Group reduced their price objective on TopBuild from $525.00 to $515.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. DA Davidson dropped their target price on TopBuild from $460.00 to $450.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Evercore ISI reduced their price target on TopBuild from $491.00 to $443.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Stephens dropped their price objective on shares of TopBuild from $435.00 to $400.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, TopBuild has an average rating of “Moderate Buy” and an average price target of $440.44.

TopBuild Stock Performance

Shares of BLD stock opened at $389.80 on Tuesday. The stock has a market capitalization of $11.50 billion, a PE ratio of 19.67, a PEG ratio of 2.46 and a beta of 1.79. The business’s 50 day simple moving average is $381.28 and its 200 day simple moving average is $395.23. 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 one year low of $305.00 and a one year high of $495.68.

TopBuild (NYSE:BLD) last posted its quarterly earnings data on Tuesday, November 5th. The construction company reported $5.68 EPS for the quarter, beating analysts’ consensus estimates of $5.62 by $0.06. TopBuild had a net margin of 11.66% and a return on equity of 26.40%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the firm posted $5.43 EPS. The company’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, research analysts forecast that TopBuild Corp. will post 20.99 earnings per share for the current year.

About TopBuild

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.