Forge First Asset Management Inc. Invests $5.25 Million in TopBuild Corp. $BLD

Forge First Asset Management Inc. purchased a new stake in TopBuild Corp. (NYSE:BLD) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,431 shares of the construction company’s stock, valued at approximately $5,251,000. TopBuild accounts for approximately 2.4% of Forge First Asset Management Inc.’s holdings, making the stock its 18th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Root Financial Partners LLC bought a new stake in shares of TopBuild during the 3rd quarter valued at $34,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of TopBuild in the second quarter worth $35,000. MAI Capital Management raised its stake in TopBuild by 28.3% in the second quarter. MAI Capital Management now owns 118 shares of the construction company’s stock valued at $38,000 after purchasing an additional 26 shares in the last quarter. SJS Investment Consulting Inc. lifted its position in TopBuild by 3,433.3% during the third quarter. SJS Investment Consulting Inc. now owns 106 shares of the construction company’s stock worth $41,000 after purchasing an additional 103 shares during the period. Finally, Smithfield Trust Co lifted its position in TopBuild by 58.6% during the third quarter. Smithfield Trust Co now owns 111 shares of the construction company’s stock worth $44,000 after purchasing an additional 41 shares during the period. Institutional investors own 95.67% of the company’s stock.

More TopBuild News

Here are the key news stories impacting TopBuild this week:

• Positive Sentiment: Q4 results beat on the headline numbers: reported EPS $4.50 vs. consensus $4.39, and revenue of ~$1.49–1.50B (+13.2% y/y), driven largely by acquisitions. This shows top?line growth and an EPS beat. MarketBeat: Earnings Summary
• Positive Sentiment: Management closed multiple strategic acquisitions (including SPI, Progressive Roofing, Johnson Roofing signed) that added ~ $1.2B in annualized revenue in 2025 and expand commercial/industrial exposure — management continues to prioritize M&A. GlobeNewsWire: Press Release
• Neutral Sentiment: 2026 revenue and adjusted?EBITDA guidance: sales $5.925B–$6.225B and adj. EBITDA $1.005B–$1.155B — a range that factors in continued M&A and a mid?single digit residential decline; guidance is roughly in line with stated assumptions but leaves room for variability. GlobeNewsWire: 2026 Outlook
• Neutral Sentiment: Management reiterated M&A and capital allocation priorities (completed share repurchases of $434M in 2025 and remaining repurchase capacity), which supports long?term shareholder returns but also affects near?term leverage and cash metrics. QuiverQuant: Summary
• Negative Sentiment: Profitability and cash?flow headwinds: net income and operating margins declined y/y (Q4 net income fell and operating margin compressed), adjusted EBITDA was down modestly on a full?year basis — investors worried margins will take time to recover as acquisitions are integrated. QuiverQuant: Profitability Notes
• Negative Sentiment: Leverage and interest expense rose materially after 2025 acquisitions (long?term debt increased substantially and interest expense is higher), raising near?term earnings sensitivity to rates and financial costs. GlobeNewsWire: Balance Sheet Details
• Negative Sentiment: Market reaction factors: investors appear focused on the margin declines, lower EPS vs. prior year (Q4 2024 EPS was higher) and the guidance assumptions for weaker residential activity — these items likely explain the stock moving lower today. Yahoo Finance: Why Shares Are Falling

TopBuild Stock Down 3.6%

Shares of NYSE:BLD opened at $467.70 on Friday. TopBuild Corp. has a 52-week low of $266.26 and a 52-week high of $559.47. The company has a market capitalization of $13.13 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 7.84 and a beta of 1.70. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.45 and a current ratio of 2.90. The company has a fifty day moving average of $479.57 and a 200-day moving average of $444.08.

TopBuild (NYSE:BLD) last issued its quarterly earnings data on Thursday, February 26th. The construction company reported $4.50 earnings per share for the quarter, topping analysts’ consensus estimates of $4.39 by $0.11. TopBuild had a return on equity of 27.10% and a net margin of 10.84%.The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the company posted $5.13 EPS. TopBuild’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, equities analysts predict that TopBuild Corp. will post 20.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BLD has been the topic of several recent analyst reports. Royal Bank Of Canada started coverage on shares of TopBuild in a report on Thursday, November 20th. They issued a “sector perform” rating and a $410.00 target price on the stock. DA Davidson restated a “buy” rating and set a $485.00 price objective on shares of TopBuild in a research report on Wednesday, December 10th. Wells Fargo & Company raised their target price on TopBuild from $540.00 to $600.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Evercore decreased their price target on TopBuild from $449.00 to $448.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group upped their price objective on TopBuild from $518.00 to $536.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $443.73.

About TopBuild

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.