Magnetar Financial LLC Takes Position in TopBuild Corp. $BLD

Magnetar Financial LLC purchased a new position in shares of TopBuild Corp. (NYSE:BLD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,747 shares of the construction company’s stock, valued at approximately $1,465,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Boston Partners raised its holdings in TopBuild by 102.2% in the 2nd quarter. Boston Partners now owns 774,161 shares of the construction company’s stock valued at $250,872,000 after acquiring an additional 391,299 shares in the last quarter. Orion Porfolio Solutions LLC increased its position in shares of TopBuild by 7,961.7% in the second quarter. Orion Porfolio Solutions LLC now owns 395,747 shares of the construction company’s stock worth $128,119,000 after purchasing an additional 390,838 shares during the period. Norges Bank bought a new position in shares of TopBuild in the second quarter worth $110,238,000. Westfield Capital Management Co. LP acquired a new position in TopBuild in the third quarter valued at about $87,955,000. Finally, Nordea Investment Management AB lifted its position in TopBuild by 228.6% during the third quarter. Nordea Investment Management AB now owns 278,803 shares of the construction company’s stock worth $107,873,000 after purchasing an additional 193,969 shares during the period. Institutional investors own 95.67% of the company’s stock.

TopBuild Trading Down 3.8%

NYSE BLD opened at $365.69 on Friday. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 4.66 and a beta of 1.72. TopBuild Corp. has a twelve month low of $266.26 and a twelve month high of $559.47. The company has a quick ratio of 1.34, a current ratio of 1.94 and a debt-to-equity ratio of 1.21. The business’s fifty day moving average is $475.40 and its 200 day moving average is $442.43.

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

Analysts Set New Price Targets

Several equities analysts have commented on BLD shares. Jefferies Financial Group raised their target price on shares of TopBuild from $518.00 to $536.00 and gave the company a “buy” rating in a report on Monday, December 15th. Zacks Research lowered shares of TopBuild from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. DA Davidson reissued a “buy” rating and issued a $485.00 price objective on shares of TopBuild in a research note on Wednesday, December 10th. Wells Fargo & Company cut their target price on TopBuild from $600.00 to $525.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Finally, Benchmark reduced their target price on TopBuild from $515.00 to $500.00 and set a “buy” rating on the stock in a report on Friday, February 27th. One equities 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $439.26.

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.