Nordea Investment Management AB Boosts Stock Position in TopBuild Corp. $BLD

Key Points

• Nordea Investment Management AB increased its stake in TopBuild Corp. by 148.6% in Q2, acquiring 50,714 additional shares to reach 84,834 shares valued at approximately $27.5 million.
• Other institutional investors, including Allianz and Ritholtz Wealth Management, also boosted their holdings, reflecting strong interest, as 95.67% of TopBuild's stock is owned by such institutions.
• TopBuild reported an EPS of $5.31 for the latest quarter, exceeding estimates, but its revenue fell by 5.0% year-over-year to $1.30 billion.

Nordea Investment Management AB raised its stake in TopBuild Corp. (NYSE:BLD - Free Report) by 148.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,834 shares of the construction company's stock after purchasing an additional 50,714 shares during the period. Nordea Investment Management AB owned 0.30% of TopBuild worth $27,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH grew its stake in TopBuild by 14.8% in the second quarter. Allianz Asset Management GmbH now owns 16,681 shares of the construction company's stock valued at $5,400,000 after purchasing an additional 2,148 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in TopBuild by 11.0% in the second quarter. Ritholtz Wealth Management now owns 1,714 shares of the construction company's stock worth $555,000 after acquiring an additional 170 shares in the last quarter. Boston Trust Walden Corp boosted its holdings in TopBuild by 6.7% in the second quarter. Boston Trust Walden Corp now owns 149,335 shares of the construction company's stock worth $48,346,000 after acquiring an additional 9,314 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in TopBuild by 23.8% in the second quarter. Sequoia Financial Advisors LLC now owns 1,176 shares of the construction company's stock worth $381,000 after acquiring an additional 226 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in TopBuild in the second quarter worth about $109,447,000. Hedge funds and other institutional investors own 95.67% of the company's stock.

TopBuild Trading Up 0.1%

TopBuild stock opened at $435.42 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.83 and a debt-to-equity ratio of 0.86. TopBuild Corp. has a 52 week low of $266.26 and a 52 week high of $445.94. The company has a market capitalization of $12.25 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth 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 - Get Free Report) last released its earnings results on Tuesday, August 5th. The construction company reported $5.31 EPS for the quarter, topping analysts' consensus estimates of $5.07 by $0.24. TopBuild had a return on equity of 28.32% and a net margin of 11.40%.The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the company posted $5.42 earnings per share. The company's revenue was down 5.0% compared to the same quarter last year. TopBuild has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that TopBuild Corp. will post 20.97 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BLD shares. UBS Group set a $370.00 price target on TopBuild and gave the stock a "hold" rating in a report on Tuesday, August 5th. Loop Capital raised their price target on TopBuild from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Seaport Res Ptn raised TopBuild from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. Truist Financial raised their price target on TopBuild from $370.00 to $390.00 and gave the stock a "hold" rating in a report on Thursday, October 9th. Finally, Evercore ISI raised their price target on TopBuild from $424.00 to $449.00 and gave the stock an "in-line" rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $402.91.

Insider Buying and Selling

In related news, VP Luis Francisco Machado sold 990 shares of TopBuild stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $415.02, for a total transaction of $410,869.80. Following the completion of the transaction, the vice president directly owned 10,349 shares in the company, valued at approximately $4,295,041.98. This trade represents a 8.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert M. Kuhns sold 2,000 shares of TopBuild stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $416.10, for a total value of $832,200.00. Following the transaction, the chief financial officer owned 15,633 shares of the company's stock, valued at approximately $6,504,891.30. This represents a 11.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,663 shares of company stock valued at $5,709,488 in the last ninety days. Insiders own 0.43% of the company's stock.

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.

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