Nordea Investment Management AB Increases Stake in TopBuild Corp. $BLD

Nordea Investment Management AB boosted its stake in shares of TopBuild Corp. (NYSE:BLD) by 148.6% in the 2nd quarter, Holdings Channel reports. The fund owned 84,834 shares of the construction company’s stock after buying an additional 50,714 shares during the period. Nordea Investment Management AB’s holdings in TopBuild were worth $27,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in BLD. SVB Wealth LLC purchased a new stake in shares of TopBuild in the first quarter valued at approximately $35,000. Rossby Financial LCC purchased a new stake in shares of TopBuild in the first quarter valued at approximately $50,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TopBuild in the second quarter valued at approximately $63,000. Blue Trust Inc. increased its position in shares of TopBuild by 21.7% in the second quarter. Blue Trust Inc. now owns 224 shares of the construction company’s stock valued at $73,000 after buying an additional 40 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of TopBuild by 170.1% in the first quarter. Signaturefd LLC now owns 262 shares of the construction company’s stock valued at $80,000 after buying an additional 165 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

TopBuild Stock Up 0.1%

Shares of BLD opened at $435.42 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.29 and a current ratio of 2.83. TopBuild Corp. has a one year low of $266.26 and a one year high of $445.94. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 4.55 and a beta of 1.66. The stock has a 50 day moving average price of $418.49 and a 200 day moving average price of $353.93.

TopBuild (NYSE:BLD) last issued its quarterly earnings results on Tuesday, August 5th. The construction company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.07 by $0.24. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.30 billion. TopBuild had a return on equity of 28.32% and a net margin of 11.40%.The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $5.42 earnings per share. TopBuild has set its FY 2025 guidance at EPS. Equities research analysts forecast that TopBuild Corp. will post 20.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on BLD shares. JPMorgan Chase & Co. boosted their price objective on TopBuild from $344.00 to $398.00 and gave the company an “overweight” rating in a research report on Wednesday, July 9th. Weiss Ratings restated a “hold (c+)” rating on shares of TopBuild in a research report on Wednesday, October 8th. The Goldman Sachs Group boosted their price objective on TopBuild from $450.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Benchmark boosted their price target on TopBuild from $375.00 to $444.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, Truist Financial boosted their price target on TopBuild from $370.00 to $390.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $402.91.

Insider Buying and Selling

In other TopBuild news, VP Luis Francisco Machado sold 990 shares of the company’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $415.02, for a total value of $410,869.80. Following the completion of the sale, the vice president directly owned 10,349 shares in the company, valued at $4,295,041.98. This represents a 8.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeff M. Krestancic sold 373 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $415.00, for a total value of $154,795.00. Following the completion of the sale, the insider owned 4,934 shares of the company’s stock, valued at approximately $2,047,610. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,663 shares of company stock valued at $5,709,488 in the last quarter. Corporate insiders own 0.43% of the company’s stock.

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.