Norges Bank Acquires New Position in TopBuild Corp. (NYSE:BLD)

Norges Bank bought a new position in shares of TopBuild Corp. (NYSE:BLD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 349,097 shares of the construction company’s stock, valued at approximately $108,688,000. Norges Bank owned 1.18% of TopBuild at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of TopBuild by 3.2% during the 3rd quarter. State Street Corp now owns 1,120,029 shares of the construction company’s stock worth $455,639,000 after buying an additional 34,911 shares during the last quarter. Geode Capital Management LLC grew its position in TopBuild by 2.1% in the third quarter. Geode Capital Management LLC now owns 627,989 shares of the construction company’s stock worth $255,526,000 after acquiring an additional 12,909 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in TopBuild by 4.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 292,531 shares of the construction company’s stock worth $91,076,000 after acquiring an additional 11,762 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in TopBuild by 7.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 251,588 shares of the construction company’s stock valued at $78,329,000 after purchasing an additional 18,174 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of TopBuild by 6.6% in the 4th quarter. American Century Companies Inc. now owns 149,802 shares of the construction company’s stock valued at $46,639,000 after purchasing an additional 9,266 shares during the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

TopBuild Stock Up 0.1 %

Shares of NYSE BLD opened at $305.26 on Wednesday. The stock has a market cap of $8.93 billion, a P/E ratio of 15.40, a PEG ratio of 1.82 and a beta of 1.89. The business’s fifty day simple moving average is $318.19 and its 200-day simple moving average is $348.09. TopBuild Corp. has a 12-month low of $288.31 and a 12-month high of $495.68. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 0.64.

TopBuild (NYSE:BLD) last posted its quarterly earnings results on Tuesday, February 25th. The construction company reported $5.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.07 by $0.06. TopBuild had a return on equity of 26.40% and a net margin of 11.66%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company earned $4.69 EPS. TopBuild’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities analysts predict that TopBuild Corp. will post 20.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BLD has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price objective on TopBuild from $475.00 to $410.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Truist Financial dropped their price target on shares of TopBuild from $395.00 to $310.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Seaport Res Ptn lowered shares of TopBuild from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of TopBuild in a research report on Tuesday. They set a “buy” rating and a $356.00 price objective for the company. Finally, Evercore ISI lowered TopBuild from an “outperform” rating to an “inline” rating and cut their target price for the company from $443.00 to $381.00 in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, TopBuild has an average rating of “Moderate Buy” and a consensus price target of $398.56.

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.