BlackRock Amends TopBuild Stake; Passive Investment Update

Ticker: BLD · Form: SC 13G/A · Filed: 2024-01-24T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, passive-investment

TL;DR

**BlackRock updated its TopBuild stake, signaling a passive investment adjustment.**

AI Summary

BlackRock Inc. has updated its ownership stake in TopBuild Corp. (NYSE: BLD) as of December 31, 2023, filing an Amendment No. 10 to its Schedule 13G. This filing indicates a change in BlackRock's passive investment position, which is important for investors as large institutional holdings can influence stock stability and market perception. While the exact percentage change isn't detailed in the provided text, the amendment signals BlackRock's ongoing re-evaluation of its investment in the construction special trade contractor.

Why It Matters

This filing matters because BlackRock is a major institutional investor, and changes in its holdings can signal shifts in confidence or strategy regarding TopBuild Corp., potentially influencing other investors.

Risk Assessment

Risk Level: low — This is a routine amendment filing by a large institutional investor, indicating a passive stake, which typically carries low risk for the average investor.

Analyst Insight

A smart investor would note BlackRock's continued, albeit adjusted, passive stake in TopBuild Corp. as a sign of ongoing institutional confidence, but should also research the specific changes in share count (not provided here) to understand the magnitude of BlackRock's adjustment.

Key Numbers

10 — Amendment Number (This is the tenth amendment to BlackRock's Schedule 13G filing for TopBuild Corp., indicating ongoing adjustments to its passive stake.)
20231231 — Date of Event (This is the date as of which BlackRock's ownership position in TopBuild Corp. is being reported, providing a clear snapshot of their holdings at year-end.)

Key Players & Entities

BlackRock Inc. (company) — the institutional investor filing the SC 13G/A amendment
TopBuild Corp. (company) — the subject company in which BlackRock holds shares
December 31, 2023 (date) — the date of the event requiring the filing
Amendment No. 10 (number) — the specific amendment number to the Schedule 13G
89055F103 (number) — the CUSIP number for TopBuild Corp. Common Stock

Forward-Looking Statements

BlackRock will maintain a significant, passive stake in TopBuild Corp. throughout 2024. (BlackRock Inc.) — high confidence, target: 2024-12-31
TopBuild Corp.'s stock price will likely remain stable due to the continued institutional backing from BlackRock. (TopBuild Corp.) — medium confidence, target: 2024-06-30

FAQ

What type of filing is this and what does it signify?

This is an SC 13G/A filing, specifically Amendment No. 10. It signifies that BlackRock Inc., a passive institutional investor, is updating its previously reported ownership stake in TopBuild Corp. as of December 31, 2023.

Who is the subject company of this filing?

The subject company is TopBuild Corp., identified by the CIK 0001633931 and the CUSIP number 89055F103 for its Common Stock.

Who is the entity making this filing?

The entity making this filing is BlackRock Inc., identified by the CIK 0001364742, a major institutional investment manager.

What was the 'Date of Event Which Requires Filing of this Statement'?

The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, indicating the snapshot date for BlackRock's reported holdings.

Under which rule is this Schedule 13G filed?

This Schedule 13G is filed under Rule 13d-1(b), which is typically used by institutional investors who hold more than 5% of a company's stock but do not intend to influence or control the company.

From the Filing

0001086364-24-002750.txt : 20240124 0001086364-24-002750.hdr.sgml : 20240124 20240124172356 ACCESSION NUMBER: 0001086364-24-002750 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240124 DATE AS OF CHANGE: 20240124 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TopBuild Corp CENTRAL INDEX KEY: 0001633931 STANDARD INDUSTRIAL CLASSIFICATION: CONSTRUCTION SPECIAL TRADE CONTRACTORS [1700] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 473096382 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-88960 FILM NUMBER: 24557837 BUSINESS ADDRESS: STREET 1: 475 N. WILLIAMSON BLVD. CITY: DAYTONA BEACH STATE: FL ZIP: 32114 BUSINESS PHONE: (386) 304-2200 MAIL ADDRESS: STREET 1: 475 N. WILLIAMSON BLVD. CITY: DAYTONA BEACH STATE: FL ZIP: 32114 FORMER COMPANY: FORMER CONFORMED NAME: Masco SpinCo Corp. DATE OF NAME CHANGE: 20150213 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us89055f1030_012424.txt us89055f1030_012424.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 10) TOPBUILD CORP -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 89055F103 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 89055F103 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 2942138 (6) Shared voting power 0 (7) Sole dispositive power 3050790 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 3050790 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 9.6% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- TOPBUILD CORP Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 475 N. WILLIAMSON BLVD DAYTONA BEACH FL 32114 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- Blac