Norges Bank Purchases Shares of 349,097 TopBuild Corp. (NYSE:BLD)

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

Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp raised its position 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 acquiring an additional 34,911 shares in the last quarter. Geode Capital Management LLC increased its stake in TopBuild by 2.1% in the third quarter. Geode Capital Management LLC now owns 627,989 shares of the construction company’s stock valued at $255,526,000 after purchasing an additional 12,909 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings 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 purchasing an additional 11,762 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of TopBuild by 7.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 251,588 shares of the construction company’s stock worth $78,329,000 after buying an additional 18,174 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings 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 buying an additional 9,266 shares in the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

TopBuild Stock Up 0.1 %

TopBuild stock opened at $305.26 on Wednesday. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.82 and a beta of 1.89. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average of $318.19 and a two-hundred day moving average of $348.09. TopBuild Corp. has a twelve month low of $288.31 and a twelve month high of $495.68.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of TopBuild in a research note on Tuesday. They set a “buy” rating and a $356.00 price target on the stock. Benchmark cut their target price on TopBuild from $445.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. StockNews.com downgraded TopBuild from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Truist Financial dropped their price target on TopBuild from $395.00 to $310.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group reduced their price objective on TopBuild from $475.00 to $410.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TopBuild has a consensus 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.