Louisiana State Employees Retirement System Trims Holdings in TopBuild Corp (BLD)

Louisiana State Employees Retirement System reduced its position in shares of TopBuild Corp (NYSE:BLD) by 2.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 13,000 shares of the construction company’s stock after selling 282 shares during the period. Louisiana State Employees Retirement System’s holdings in TopBuild were worth $843,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new position in TopBuild during the 4th quarter worth $41,000. Advisors Asset Management Inc. increased its holdings in TopBuild by 86.3% during the 4th quarter. Advisors Asset Management Inc. now owns 1,567 shares of the construction company’s stock worth $71,000 after purchasing an additional 726 shares during the period. ETF Managers Group LLC increased its holdings in TopBuild by 15.7% during the 4th quarter. ETF Managers Group LLC now owns 1,702 shares of the construction company’s stock worth $77,000 after purchasing an additional 231 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in TopBuild by 19.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,539 shares of the construction company’s stock worth $114,000 after purchasing an additional 408 shares during the period. Finally, Bank of Montreal Can increased its holdings in TopBuild by 10.7% during the 4th quarter. Bank of Montreal Can now owns 3,871 shares of the construction company’s stock worth $175,000 after purchasing an additional 374 shares during the period. Institutional investors own 94.96% of the company’s stock.

Shares of NYSE:BLD opened at $73.71 on Friday. TopBuild Corp has a 12-month low of $41.27 and a 12-month high of $87.21. The firm has a market capitalization of $2.55 billion, a PE ratio of 17.59, a P/E/G ratio of 0.65 and a beta of 1.08. The company has a current ratio of 1.59, a quick ratio of 1.21 and a debt-to-equity ratio of 0.67.

TopBuild (NYSE:BLD) last announced its quarterly earnings results on Tuesday, February 26th. The construction company reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.01. TopBuild had a return on equity of 14.12% and a net margin of 5.65%. The business had revenue of $639.55 million for the quarter, compared to the consensus estimate of $647.95 million. During the same period last year, the business posted $0.84 EPS. The business’s revenue was up 27.6% compared to the same quarter last year. On average, equities research analysts forecast that TopBuild Corp will post 4.53 EPS for the current year.

BLD has been the topic of several research reports. Zacks Investment Research downgraded TopBuild from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Zelman & Associates downgraded TopBuild from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Macquarie upgraded TopBuild from a “neutral” rating to an “outperform” rating in a report on Thursday, March 7th. ValuEngine upgraded TopBuild from a “sell” rating to a “hold” rating in a report on Thursday, March 7th. Finally, Buckingham Research initiated coverage on TopBuild in a report on Monday, February 25th. They set a “buy” rating and a $69.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $78.91.

In other news, COO Robert M. Buck sold 14,677 shares of TopBuild stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $58.66, for a total value of $860,952.82. Following the transaction, the chief operating officer now directly owns 60,142 shares in the company, valued at approximately $3,527,929.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John S. Peterson sold 10,930 shares of TopBuild stock in a transaction on Monday, March 4th. The shares were sold at an average price of $60.36, for a total value of $659,734.80. Following the completion of the transaction, the vice president now owns 45,126 shares in the company, valued at $2,723,805.36. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Louisiana State Employees Retirement System Trims Holdings in TopBuild Corp (BLD)” was originally reported by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. & international trademark and copyright laws. The original version of this piece can be viewed at https://www.baseballdailydigest.com/news/2019/04/21/louisiana-state-employees-retirement-system-trims-holdings-in-topbuild-corp-bld.html.

TopBuild Profile

TopBuild Corp. engages in the installation, distribution, and sale of insulation and other building products to the United States construction industry. The company operates in two segments, Installation and Distribution. It offers rain gutters, garage doors, fireplaces, fireproofing and firestopping products, shower enclosures, closet shelves, accessories, and other building products; and residential insulation services.

Featured Story: Dow Jones Industrial Average (DJIA)

Want to see what other hedge funds are holding BLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TopBuild Corp (NYSE:BLD).

Institutional Ownership by Quarter for TopBuild (NYSE:BLD)

Receive News & Ratings for TopBuild Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TopBuild and related companies with MarketBeat.com's FREE daily email newsletter.