KLP Kapitalforvaltning AS Takes Position in TopBuild Corp. (NYSE:BLD)

KLP Kapitalforvaltning AS acquired a new position in shares of TopBuild Corp. (NYSE:BLD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 made changes to their positions in the stock. AXQ Capital LP increased its holdings in TopBuild by 70.7% during the 4th quarter. AXQ Capital LP now owns 2,554 shares of the construction company's stock worth $795,000 after purchasing an additional 1,058 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of TopBuild during the fourth quarter worth about $699,000. Sei Investments Co. raised its position in TopBuild by 670.3% in the 4th quarter. Sei Investments Co. now owns 34,924 shares of the construction company's stock valued at $10,873,000 after buying an additional 30,390 shares during the last quarter. American Century Companies Inc. lifted its stake in 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 acquiring an additional 9,266 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in TopBuild by 5.2% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 19,441 shares of the construction company's stock worth $6,052,000 after acquiring an additional 966 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Evercore ISI lowered shares of TopBuild from an "outperform" rating to an "inline" rating and cut their price objective for the stock from $443.00 to $381.00 in a research report on Monday, December 16th. Truist Financial cut their price target on shares of TopBuild from $395.00 to $310.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group decreased their price objective on TopBuild from $475.00 to $410.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Seaport Res Ptn lowered TopBuild from a "strong-buy" rating to a "hold" rating in a report on Friday, December 13th. Finally, StockNews.com downgraded TopBuild from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $403.88.

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TopBuild Stock Performance

NYSE BLD traded down $1.80 during trading on Monday, reaching $303.83. 127,325 shares of the company's stock were exchanged, compared to its average volume of 308,865. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.01 and a quick ratio of 1.49. The business has a 50 day moving average price of $319.92 and a 200-day moving average price of $349.12. The stock has a market capitalization of $8.89 billion, a P/E ratio of 15.27, a PEG ratio of 1.82 and a beta of 1.89. TopBuild Corp. has a fifty-two week low of $288.31 and a fifty-two week high of $495.68.

TopBuild (NYSE:BLD - Get Free Report) last posted its earnings results on Tuesday, February 25th. The construction company reported $5.13 earnings per share for the quarter, topping 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 business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the firm earned $4.69 EPS. The firm's revenue was up 2.0% compared to the same quarter last year. Sell-side analysts forecast that TopBuild Corp. will post 20.97 earnings per share for the current fiscal year.

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.