Pictet Asset Management Holding SA Boosts Stock Holdings in TopBuild Corp. $BLD

Key Points

• Pictet Asset Management increased its stake in TopBuild (NYSE: BLD) by 7.9% in Q4, buying 50,762 shares to hold 697,047 shares (about 2.48%) valued at roughly $290.8 million.
• Institutional ownership is very high (95.67%), with other major investors—including Capital Research Global Investors (3,496,884 shares, ~$1.37B), Capital World, Bank of America, Boston Partners and Dimensional—also modestly increasing positions.
• TopBuild recently beat quarterly EPS estimates ($4.50 vs. $4.39) with revenue up 13.2% year-over-year; the stock trades around $453.79 with a $12.77B market cap and carries a consensus analyst rating of Moderate Buy and a $447.21 target.

Pictet Asset Management Holding SA lifted its position in shares of TopBuild Corp. (NYSE:BLD - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 697,047 shares of the construction company's stock after buying an additional 50,762 shares during the period. Pictet Asset Management Holding SA owned approximately 2.48% of TopBuild worth $290,811,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Capital Research Global Investors increased its stake in TopBuild by 1.8% during the third quarter. Capital Research Global Investors now owns 3,496,884 shares of the construction company's stock worth $1,366,806,000 after acquiring an additional 62,690 shares during the last quarter. Capital World Investors lifted its stake in shares of TopBuild by 1.8% in the 3rd quarter. Capital World Investors now owns 864,574 shares of the construction company's stock valued at $337,927,000 after purchasing an additional 15,009 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of TopBuild by 14.8% during the 2nd quarter. Bank of America Corp DE now owns 847,436 shares of the construction company's stock worth $274,349,000 after purchasing an additional 109,572 shares during the period. Boston Partners increased its position in TopBuild by 1.0% during the 3rd quarter. Boston Partners now owns 781,561 shares of the construction company's stock worth $305,662,000 after purchasing an additional 7,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in TopBuild by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 496,055 shares of the construction company's stock worth $193,891,000 after purchasing an additional 2,951 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

TopBuild Stock Performance

Shares of BLD opened at $453.79 on Monday. TopBuild Corp. has a one year low of $273.87 and a one year high of $559.47. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.94 and a quick ratio of 1.34. The stock has a market cap of $12.77 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 5.70 and a beta of 1.78. The company has a 50-day moving average of $411.15 and a two-hundred day moving average of $436.39.

TopBuild (NYSE:BLD - Get Free Report) last announced 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. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.49 billion. TopBuild had a net margin of 9.65% and a return on equity of 25.66%. The company's revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the business earned $5.13 EPS. On average, equities research analysts expect that TopBuild Corp. will post 18.12 earnings per share for the current year.

Analysts Set New Price Targets

BLD has been the subject of a number of research reports. Zacks Research cut shares of TopBuild from a "hold" rating to a "strong sell" rating in a research report on Tuesday, March 3rd. Seaport Research Partners reaffirmed a "neutral" rating on shares of TopBuild in a research report on Tuesday, April 7th. Benchmark reduced their price target on shares of TopBuild from $515.00 to $500.00 and set a "buy" rating on the stock in a research report on Friday, February 27th. DA Davidson restated a "buy" rating and set a $465.00 price objective on shares of TopBuild in a research note on Monday, April 20th. Finally, Wells Fargo & Company decreased their price objective on shares of TopBuild from $525.00 to $475.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $447.21.

TopBuild Profile

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.

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