Forge First Asset Management Inc. Purchases Shares of 13,431 TopBuild Corp. $BLD

Forge First Asset Management Inc. purchased a new stake in shares of TopBuild Corp. (NYSE:BLD) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 13,431 shares of the construction company’s stock, valued at approximately $5,251,000. TopBuild comprises about 2.4% of Forge First Asset Management Inc.’s investment portfolio, making the stock its 18th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Inscription Capital LLC raised its position in shares of TopBuild by 104.6% during the third quarter. Inscription Capital LLC now owns 2,949 shares of the construction company’s stock worth $1,153,000 after acquiring an additional 1,508 shares during the last quarter. Calamos Advisors LLC acquired a new stake in TopBuild during the 3rd quarter valued at approximately $997,000. WCM Investment Management LLC bought a new position in TopBuild during the 3rd quarter worth approximately $17,734,000. Campbell & CO Investment Adviser LLC lifted its position in shares of TopBuild by 697.8% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 7,906 shares of the construction company’s stock worth $3,090,000 after purchasing an additional 6,915 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc lifted its position in shares of TopBuild by 244.2% in the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 93,870 shares of the construction company’s stock worth $36,698,000 after purchasing an additional 66,601 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.

TopBuild Stock Performance

Shares of BLD opened at $467.70 on Friday. TopBuild Corp. has a one year low of $266.26 and a one year high of $559.47. The company has a market cap of $13.13 billion, a PE ratio of 23.74, a P/E/G ratio of 7.84 and a beta of 1.70. The stock has a 50-day moving average of $479.57 and a 200-day moving average of $444.08. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.90 and a quick ratio of 2.45.

TopBuild (NYSE:BLD) last announced its quarterly earnings results on Thursday, February 26th. The construction company reported $4.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the company earned $5.13 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis. On average, equities research analysts predict that TopBuild Corp. will post 20.97 EPS for the current fiscal year.

Key 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

Wall Street Analyst Weigh In

BLD has been the subject of several recent analyst reports. Evercore decreased their price objective on shares of TopBuild from $449.00 to $448.00 and set an “in-line” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings upgraded TopBuild from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Royal Bank Of Canada started coverage on TopBuild in a research note on Thursday, November 20th. They issued a “sector perform” rating and a $410.00 price objective on the stock. Benchmark raised their target price on TopBuild from $444.00 to $515.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group lifted their target price on TopBuild from $518.00 to $536.00 and gave the stock a “buy” rating in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.