Principal Financial Group Inc. Trims Stock Position in TopBuild Corp. $BLD

Principal Financial Group Inc. cut its stake in TopBuild Corp. (NYSE:BLD) by 27.0% in the 3rd quarter, Holdings Channel reports. The firm owned 66,062 shares of the construction company’s stock after selling 24,462 shares during the period. Principal Financial Group Inc.’s holdings in TopBuild were worth $25,821,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. MAI Capital Management raised its stake in TopBuild by 28.3% in the second quarter. MAI Capital Management now owns 118 shares of the construction company’s stock worth $38,000 after buying an additional 26 shares in the last quarter. CWM LLC grew its holdings in shares of TopBuild by 6.6% during the 3rd quarter. CWM LLC now owns 419 shares of the construction company’s stock worth $164,000 after acquiring an additional 26 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in shares of TopBuild by 0.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,724 shares of the construction company’s stock worth $1,457,000 after acquiring an additional 31 shares in the last quarter. Park Avenue Securities LLC lifted its stake in shares of TopBuild by 3.5% in the 3rd quarter. Park Avenue Securities LLC now owns 979 shares of the construction company’s stock valued at $383,000 after purchasing an additional 33 shares during the period. Finally, TD Private Client Wealth LLC boosted its position in shares of TopBuild by 16.9% during the third quarter. TD Private Client Wealth LLC now owns 228 shares of the construction company’s stock valued at $89,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 95.67% of the company’s stock.

TopBuild Stock Performance

Shares of TopBuild stock 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 firm’s 50-day moving average is $454.98 and its 200 day moving average is $430.92. The stock has a market cap of $14.52 billion, a price-to-earnings 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 current ratio of 2.90 and a quick ratio of 2.45.

TopBuild (NYSE:BLD) last issued its earnings results on Tuesday, November 4th. The construction company reported $5.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.22 by $0.14. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations 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 previous year, the company earned $5.68 earnings per share. Sell-side analysts anticipate that TopBuild Corp. will post 20.97 EPS for the current fiscal year.

Insider Buying and Selling at TopBuild

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. DA Davidson reiterated a “buy” rating and issued a $485.00 price objective on shares of TopBuild in a report on Wednesday, December 10th. Wells Fargo & Company increased their price target on shares of TopBuild from $500.00 to $540.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Vertical Research initiated coverage on shares of TopBuild in a research report on Tuesday, October 21st. They set a “buy” rating and a $517.96 price target for the company. Jefferies Financial Group upped their price objective on shares of TopBuild from $518.00 to $536.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Finally, Weiss Ratings raised shares of TopBuild from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $439.73.

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.