Bank of New York Mellon Corp Decreases Stock Position in TopBuild Corp. (NYSE:BLD)

Posted by on Mar 11th, 2023

Bank of New York Mellon Corp lessened its position in TopBuild Corp. (NYSE:BLD – Get Rating) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 299,573 shares of the construction company’s stock after selling 5,335 shares during the quarter. Bank of New York Mellon Corp owned about 0.94% of TopBuild worth $49,363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of TopBuild in the third quarter valued at approximately $29,000. Ellevest Inc. purchased a new position in TopBuild during the third quarter worth approximately $37,000. Covestor Ltd lifted its position in TopBuild by 118.0% during the first quarter. Covestor Ltd now owns 279 shares of the construction company’s stock worth $51,000 after buying an additional 151 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new position in TopBuild during the third quarter worth approximately $70,000. Finally, Quadrant Capital Group LLC lifted its position in TopBuild by 13.7% during the second quarter. Quadrant Capital Group LLC now owns 449 shares of the construction company’s stock worth $75,000 after buying an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

TopBuild Price Performance

BLD stock opened at $192.86 on Friday. The business has a fifty day moving average of $192.39 and a two-hundred day moving average of $173.96. The company has a quick ratio of 1.41, a current ratio of 1.96 and a debt-to-equity ratio of 0.74. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 11.24 and a beta of 1.48. TopBuild Corp. has a 52-week low of $140.66 and a 52-week high of $232.92.

TopBuild (NYSE:BLD – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The construction company reported $4.40 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.38. TopBuild had a return on equity of 30.81% and a net margin of 11.10%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the firm posted $3.12 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. As a group, research analysts anticipate that TopBuild Corp. will post 15.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. StockNews.com upgraded TopBuild from a “hold” rating to a “buy” rating in a research report on Wednesday, February 15th. KeyCorp lifted their price objective on TopBuild from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded TopBuild from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $201.00 to $227.00 in a research report on Tuesday, January 10th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, TopBuild has a consensus rating of “Moderate Buy” and a consensus target price of $214.00.

About TopBuild

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TopBuild Corp. engages in the installation and distribution of insulation products and other building products to the U.S. and Canadian construction industry. It operates through the following segments: Installation, Specialty Distribution, and Corporate. The Installation segment provides insulation installation services nationwide through its TruTeam contractor services and business branches located in the U.S.

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Institutional Ownership by Quarter for TopBuild (NYSE:BLD)

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