Norges Bank Takes $108.69 Million Position in TopBuild Corp. (NYSE:BLD)

Norges Bank purchased a new stake in TopBuild Corp. (NYSE:BLD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 349,097 shares of the construction company's stock, valued at approximately $108,688,000. Norges Bank owned about 1.18% of TopBuild at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. E. Ohman J or Asset Management AB bought a new position in shares of TopBuild during the fourth quarter worth $23,906,000. Jackson Square Partners LLC bought a new position in TopBuild during the fourth quarter worth about $19,462,000. Victory Capital Management Inc. grew its stake in TopBuild by 116.9% in the fourth quarter. Victory Capital Management Inc. now owns 94,567 shares of the construction company's stock valued at $29,442,000 after acquiring an additional 50,959 shares during the period. State Street Corp raised its position in shares of TopBuild by 3.2% during the third quarter. State Street Corp now owns 1,120,029 shares of the construction company's stock worth $455,639,000 after purchasing an additional 34,911 shares during the period. Finally, Royal London Asset Management Ltd. lifted its holdings in shares of TopBuild by 33.7% during the 4th quarter. Royal London Asset Management Ltd. now owns 133,934 shares of the construction company's stock valued at $41,699,000 after purchasing an additional 33,763 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Evercore ISI downgraded shares of TopBuild from an "outperform" rating to an "inline" rating and dropped their target price for the stock from $443.00 to $381.00 in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of TopBuild in a report on Tuesday, April 1st. They set a "buy" rating and a $356.00 price objective on the stock. StockNews.com cut TopBuild from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Seaport Res Ptn downgraded TopBuild from a "strong-buy" rating to a "hold" rating in a research note on Friday, December 13th. Finally, Benchmark reduced their price objective on TopBuild from $445.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $398.56.

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TopBuild Stock Up 6.7 %

BLD stock traded up $19.06 during mid-day trading on Friday, reaching $303.28. The company had a trading volume of 904,513 shares, compared to its average volume of 314,290. TopBuild Corp. has a 52 week low of $272.24 and a 52 week high of $495.68. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.82 and a beta of 1.77. 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 stock has a 50 day simple moving average of $314.95 and a two-hundred day simple moving average of $346.04.

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

TopBuild Company 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.