Jennison Associates LLC Increases Stock Position in TopBuild Corp. (NYSE:BLD)

Jennison Associates LLC grew its stake in TopBuild Corp. (NYSE:BLD) by 2,833.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 114,030 shares of the construction company’s stock after acquiring an additional 110,143 shares during the period. Jennison Associates LLC’s holdings in TopBuild were worth $46,389,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC purchased a new position in shares of TopBuild during the second quarter worth $30,000. Kennebec Savings Bank purchased a new position in TopBuild during the 3rd quarter valued at about $45,000. UMB Bank n.a. grew its position in TopBuild by 87.3% in the 3rd quarter. UMB Bank n.a. now owns 133 shares of the construction company’s stock valued at $54,000 after acquiring an additional 62 shares in the last quarter. Blue Trust Inc. increased its stake in TopBuild by 27.4% during the second quarter. Blue Trust Inc. now owns 293 shares of the construction company’s stock worth $113,000 after purchasing an additional 63 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of TopBuild by 10.3% during the second quarter. Fifth Third Bancorp now owns 332 shares of the construction company’s stock worth $128,000 after purchasing an additional 31 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BLD has been the subject of a number of research reports. Truist Financial dropped their price objective on shares of TopBuild from $410.00 to $395.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group reduced their price objective on TopBuild from $525.00 to $515.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Evercore ISI lowered their target price on TopBuild from $491.00 to $443.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. DA Davidson reduced their price target on TopBuild from $460.00 to $450.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Stephens lowered their price objective on TopBuild from $435.00 to $400.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $440.44.

TopBuild Stock Performance

Shares of TopBuild stock opened at $361.14 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.64. TopBuild Corp. has a 52 week low of $291.98 and a 52 week high of $495.68. The firm’s 50 day moving average is $382.61 and its two-hundred day moving average is $396.37. The firm has a market capitalization of $10.65 billion, a P/E ratio of 18.22, a P/E/G ratio of 2.20 and a beta of 1.79.

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

About TopBuild

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.