KLP Kapitalforvaltning AS Invests $1.90 Million in TopBuild Corp. (NYSE:BLD)

KLP Kapitalforvaltning AS purchased a new stake in TopBuild Corp. (NYSE:BLD) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,100 shares of the construction company’s stock, valued at approximately $1,899,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLD. TT International Asset Management LTD boosted its stake in shares of TopBuild by 33.3% in the 4th quarter. TT International Asset Management LTD now owns 18,781 shares of the construction company’s stock valued at $5,847,000 after purchasing an additional 4,694 shares during the last quarter. Van ECK Associates Corp lifted its holdings in TopBuild by 57.8% in the fourth quarter. Van ECK Associates Corp now owns 32,633 shares of the construction company’s stock valued at $10,160,000 after buying an additional 11,948 shares during the period. Bank of Montreal Can lifted its holdings in TopBuild by 72.0% in the third quarter. Bank of Montreal Can now owns 11,239 shares of the construction company’s stock valued at $4,600,000 after buying an additional 4,703 shares during the period. Fortem Financial Group LLC boosted its stake in TopBuild by 450.8% in the third quarter. Fortem Financial Group LLC now owns 5,233 shares of the construction company’s stock valued at $2,129,000 after acquiring an additional 4,283 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in TopBuild by 14.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 85,613 shares of the construction company’s stock worth $34,828,000 after acquiring an additional 10,612 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.

TopBuild Price Performance

Shares of BLD opened at $311.34 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.49 and a current ratio of 2.01. The firm has a market capitalization of $9.11 billion, a PE ratio of 15.71, a P/E/G ratio of 1.82 and a beta of 1.89. The stock has a 50 day simple moving average of $320.73 and a 200 day simple moving average of $349.70. TopBuild Corp. has a 52-week low of $288.31 and a 52-week high of $495.68.

TopBuild (NYSE:BLD) last issued its quarterly earnings data on Tuesday, February 25th. The construction company reported $5.13 EPS for the quarter, topping analysts’ consensus estimates of $5.07 by $0.06. The business 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%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the business posted $4.69 earnings per share. Sell-side analysts predict that TopBuild Corp. will post 20.97 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BLD shares. Benchmark cut their price target on TopBuild from $445.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Truist Financial cut their target price on TopBuild from $395.00 to $310.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Loop Capital decreased their target price on TopBuild from $405.00 to $390.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Evercore ISI cut TopBuild from an “outperform” rating to an “inline” rating and lowered their price target for the company from $443.00 to $381.00 in a research note on Monday, December 16th. Finally, The Goldman Sachs Group reduced their price objective on shares of TopBuild from $475.00 to $410.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, TopBuild presently has an average rating of “Moderate Buy” and an average target price of $403.88.

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.