Nordea Investment Management AB Lowers Position in TopBuild Corp. $BLD

Nordea Investment Management AB cut its position in shares of TopBuild Corp. (NYSE:BLD) by 5.7% during the 4th quarter, HoldingsChannel reports. The firm owned 263,016 shares of the construction company’s stock after selling 15,787 shares during the period. Nordea Investment Management AB’s holdings in TopBuild were worth $111,587,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in TopBuild in the third quarter worth $27,000. Root Financial Partners LLC bought a new stake in shares of TopBuild during the 3rd quarter valued at $34,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of TopBuild in the 2nd quarter worth about $35,000. MAI Capital Management grew its position in shares of TopBuild by 28.3% in the 2nd quarter. MAI Capital Management now owns 118 shares of the construction company’s stock worth $38,000 after buying an additional 26 shares during the period. Finally, SJS Investment Consulting Inc. increased its stake in shares of TopBuild by 3,433.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 106 shares of the construction company’s stock worth $41,000 after acquiring an additional 103 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

TopBuild Price Performance

NYSE BLD opened at $335.57 on Monday. TopBuild Corp. has a one year low of $266.26 and a one year high of $559.47. The stock has a 50-day moving average of $465.36 and a 200 day moving average of $439.96. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.34 and a current ratio of 1.94. The company has a market capitalization of $9.45 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 4.21 and a beta of 1.72.

TopBuild (NYSE:BLD) last posted its earnings results on Thursday, February 26th. The construction company reported $4.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.39 by $0.11. TopBuild had a net margin of 9.65% and a return on equity of 25.66%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the business earned $5.13 EPS. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, sell-side analysts forecast that TopBuild Corp. will post 20.97 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. DA Davidson lowered their price target on shares of TopBuild from $485.00 to $465.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. Benchmark cut their price target on shares of TopBuild from $515.00 to $500.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Wells Fargo & Company reduced their price target on shares of TopBuild from $600.00 to $525.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Jefferies Financial Group boosted their price objective on shares of TopBuild from $518.00 to $536.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Finally, Zacks Research cut TopBuild from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, TopBuild presently has an average rating of “Moderate Buy” and a consensus price target of $437.93.

About TopBuild

TopBuild Corp. (NYSE: BLD) is a leading installer and distributor of insulation and building material products serving primarily the U.S. construction market. Headquartered in Daytona Beach, Florida, the company was formed in 2011 as a spin-off from ABF Freight System and has since grown through a combination of organic expansion and targeted acquisitions. TopBuild’s core mission is to enhance energy efficiency and comfort in new residential and light commercial construction projects by providing comprehensive insulation solutions and related services.

The company operates through two main segments.