TopBuild Corp. $BLD Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its holdings in shares of TopBuild Corp. (NYSE:BLD) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 677,889 shares of the construction company’s stock after selling 19,158 shares during the period. Pictet Asset Management Holding SA owned 2.41% of TopBuild worth $238,129,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System acquired a new stake in TopBuild in the first quarter worth about $2,846,000. Silver Oak Securities Incorporated raised its position in shares of TopBuild by 25.6% in the 1st quarter. Silver Oak Securities Incorporated now owns 957 shares of the construction company’s stock valued at $336,000 after purchasing an additional 195 shares during the last quarter. Kestra Private Wealth Services LLC purchased a new position in shares of TopBuild in the 1st quarter valued at approximately $200,000. Fifth Third Wealth Advisors LLC boosted its stake in TopBuild by 3.2% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 878 shares of the construction company’s stock worth $308,000 after purchasing an additional 27 shares in the last quarter. Finally, OP Asset Management Ltd acquired a new stake in TopBuild in the 1st quarter worth approximately $1,167,000. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

TopBuild Price Performance

NYSE:BLD opened at $424.96 on Friday. The firm’s fifty day moving average is $420.78 and its two-hundred day moving average is $431.36. The firm has a market cap of $11.91 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 5.77 and a beta of 1.80. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.41 and a current ratio of 2.00. TopBuild Corp. has a one year low of $320.00 and a one year high of $559.47.

TopBuild (NYSE:BLD) last issued its earnings results on Tuesday, May 5th. The construction company reported $3.75 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.11. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.41 billion. TopBuild had a return on equity of 23.53% and a net margin of 8.95%.The company’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.63 earnings per share. Research analysts expect that TopBuild Corp. will post 18.07 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. UBS Group set a $440.00 price target on shares of TopBuild in a research note on Wednesday, May 6th. Zacks Research upgraded shares of TopBuild from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. DA Davidson reissued a “neutral” rating and set a $437.00 price objective (down from $465.00) on shares of TopBuild in a report on Wednesday, May 6th. Weiss Ratings reissued a “hold (c)” rating on shares of TopBuild in a research report on Tuesday, June 9th. Finally, Wells Fargo & Company reduced their target price on TopBuild from $525.00 to $475.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $466.77.

TopBuild Company 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.