Capital Research Global Investors Trims TopBuild Stake to 7.9%

Ticker: BLD · Form: SC 13G/A · Filed: 2024-02-09T00:00:00.000Z

Sentiment: mixed

Topics: institutional-ownership, stake-reduction, SC-13G/A

TL;DR

**Capital Research Global Investors cut its TopBuild stake to 7.9% as of Dec 29, 2023.**

AI Summary

Capital Research Global Investors, a major institutional investor, has updated its ownership stake in TopBuild Corp. (NYSE: BLD) as of December 29, 2023. The filing shows they now beneficially own 2,518,837 shares of common stock, representing 7.9% of the company, down from their previous reported stake. This matters to investors because a large institutional investor reducing its position could signal a shift in their outlook on TopBuild's future performance or valuation.

Why It Matters

This filing indicates a significant institutional investor has reduced its holdings in TopBuild, which could be interpreted by the market as a slight decrease in confidence or a portfolio rebalancing.

Risk Assessment

Risk Level: medium — A reduction in a significant institutional holding can sometimes precede a period of underperformance for the stock, though it's not a definitive indicator.

Analyst Insight

Investors should monitor TopBuild's upcoming earnings reports and analyst sentiment to understand if Capital Research Global Investors' reduction reflects a broader concern or simply portfolio rebalancing. This filing alone doesn't warrant immediate panic but suggests a closer look at the company's fundamentals.

Key Numbers

2,518,837 — Shares Beneficially Owned (Total shares of TopBuild Corp. common stock held by Capital Research Global Investors as of December 29, 2023.)
7.9% — Percentage of Class (The percentage of TopBuild Corp.'s common stock owned by Capital Research Global Investors.)
2,511,779 — Sole Voting Power Shares (The number of shares over which Capital Research Global Investors has sole voting power.)

Key Players & Entities

Capital Research Global Investors (company) — the reporting person who filed the SC 13G/A
TopBuild Corp. (company) — the subject company whose shares are being reported
2,518,837 (dollar_amount) — number of shares beneficially owned by Capital Research Global Investors
7.9% (dollar_amount) — percentage of TopBuild Corp. common stock beneficially owned
December 29, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

TopBuild Corp. stock may experience short-term volatility due to the institutional stake reduction. (TopBuild Corp.) — medium confidence, target: 3 months

FAQ

Who is the reporting person in this SC 13G/A filing?

The reporting person is Capital Research Global Investors, as stated in the 'NAMES OF REPORTING PERSONS' section and the 'FILED BY' section of the filing.

What is the CUSIP number for TopBuild Corp. common stock?

The CUSIP number for TopBuild Corp. common stock is 89055F103, as listed on the cover page of the Schedule 13G.

What was the date of the event that required this filing?

The date of the event which required this filing was December 29, 2023, as specified on the cover page of the Schedule 13G.

How many shares of TopBuild Corp. does Capital Research Global Investors have sole dispositive power over?

Capital Research Global Investors has sole dispositive power over 2,518,837 shares, as indicated in item 7 of the cover page.

What rule under the Securities Exchange Act of 1934 is this Schedule 13G filed under?

This Schedule 13G is filed under Rule 13d-1(b), as indicated by the checked box on the cover page.

From the Filing

0001422848-24-000054.txt : 20240209 0001422848-24-000054.hdr.sgml : 20240209 20240209174633 ACCESSION NUMBER: 0001422848-24-000054 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 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: 24616460 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: Capital Research Global Investors CENTRAL INDEX KEY: 0001422848 ORGANIZATION NAME: IRS NUMBER: 951411037 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 333 SOUTH HOPE STREET STREET 2: 55TH FL CITY: LOS ANGELES STATE: CA ZIP: 90071 BUSINESS PHONE: 213-486-9200 MAIL ADDRESS: STREET 1: 333 SOUTH HOPE STREET STREET 2: 55TH FL CITY: LOS ANGELES STATE: CA ZIP: 90071 SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 3 ) * TopBuild Corp. (Name of Issuer) Common Stock (Title of Class of Securities) 89055F103 (CUSIP Number) December 29, 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 (the "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 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Capital Research Global Investors 95-1411037 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] 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 2,511,779 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 2,518,837 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,518,837 Beneficial ownership disclaimed pursuant to Rule 13d-4 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.9% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer TopBuild Corp. (b) Address of Issuer's Principal Executive Offices 475 North Williamson Boulevard, Daytona Beach, FL 32114 Item 2. (a) Name of Person Filing Capital Research Global Investors (b) Address of Principal Business Office or, if None, Residence 333 South Hope Street, 55th Fl, Los Angeles, CA 90071 (c) Citizenship N/A (d) Title of Class of Securities Common Stock (e) CUSIP Number 89055F103 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (1