Jennison Associates LLC Boosts Stake in TopBuild Corp. (NYSE:BLD)

Jennison Associates LLC raised its holdings in TopBuild Corp. (NYSE:BLD) by 2,833.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 114,030 shares of the construction company’s stock after acquiring an additional 110,143 shares during the period. Jennison Associates LLC owned approximately 0.38% of TopBuild worth $46,389,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BLD. Lazard Asset Management LLC lifted its stake in shares of TopBuild by 18.2% in the 1st quarter. Lazard Asset Management LLC now owns 168,423 shares of the construction company’s stock valued at $74,228,000 after acquiring an additional 25,973 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of TopBuild by 6.1% in the second quarter. Nisa Investment Advisors LLC now owns 14,258 shares of the construction company’s stock worth $5,493,000 after purchasing an additional 820 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of TopBuild by 29.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 130,738 shares of the construction company’s stock worth $56,489,000 after buying an additional 30,000 shares during the period. River Global Investors LLP increased its stake in shares of TopBuild by 27.3% in the third quarter. River Global Investors LLP now owns 6,930 shares of the construction company’s stock worth $2,818,000 after buying an additional 1,485 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in TopBuild during the 2nd quarter valued at $262,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on BLD shares. Jefferies Financial Group reduced their price target on shares of TopBuild from $525.00 to $515.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Evercore ISI dropped their price target on TopBuild from $491.00 to $443.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Stephens decreased their price objective on TopBuild from $435.00 to $400.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Truist Financial lowered their price objective on TopBuild from $410.00 to $395.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Finally, StockNews.com raised shares of TopBuild from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, TopBuild has an average rating of “Moderate Buy” and a consensus price target of $440.44.

TopBuild Stock Performance

Shares of BLD stock opened at $361.14 on Friday. TopBuild Corp. has a 1 year low of $291.98 and a 1 year high of $495.68. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 2.20 and a beta of 1.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.01 and a quick ratio of 1.49. The business has a fifty day moving average of $382.61 and a 200 day moving average of $396.37.

TopBuild (NYSE:BLD) last posted its earnings results on Tuesday, November 5th. The construction company reported $5.68 EPS for the quarter, topping the consensus estimate of $5.62 by $0.06. TopBuild had a return on equity of 26.40% and a net margin of 11.66%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company earned $5.43 earnings per share. TopBuild’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, research analysts expect that TopBuild Corp. will post 21 earnings per share for the current year.

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.