1,000,326 Shares in Toll Brothers Inc. $TOL Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp bought a new position in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,000,326 shares of the construction company's stock, valued at approximately $164,804,000. Bank of New York Mellon Corp owned about 1.07% of Toll Brothers at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Hilton Head Capital Partners LLC lifted its stake in Toll Brothers by 65.5% in the first quarter. Hilton Head Capital Partners LLC now owns 187 shares of the construction company's stock worth $26,000 after acquiring an additional 74 shares during the period. Wiser Advisor Group LLC acquired a new stake in Toll Brothers in the third quarter valued at approximately $27,000. Pinnacle Holdings LLC acquired a new stake in shares of Toll Brothers in the 4th quarter worth $27,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Toll Brothers during the third quarter worth about $29,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in Toll Brothers during the 3rd quarter worth approximately $37,000. Institutional investors own 91.76% of the company's stock.

Toll Brothers Trading Down 0.0%

TOL opened at $147.03 on Monday. The stock has a market capitalization of $13.74 billion, a PE ratio of 11.80, a P/E/G ratio of 1.21 and a beta of 1.35. Toll Brothers Inc. has a one year low of $123.14 and a one year high of $168.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.55 and a current ratio of 4.53. The business's 50 day moving average price is $151.97 and its 200 day moving average price is $146.44.

Toll Brothers (NYSE:TOL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 18th. The construction company reported $2.97 earnings per share for the quarter, beating analysts' consensus estimates of $2.93 by $0.04. Toll Brothers had a net margin of 11.14% and a return on equity of 14.21%. The business had revenue of $2.66 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same period last year, the business earned $3.73 earnings per share. The business's revenue for the quarter was down 9.7% on a year-over-year basis. As a group, equities research analysts expect that Toll Brothers Inc. will post 12.81 EPS for the current year.

Toll Brothers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, July 10th. Toll Brothers's dividend payout ratio (DPR) is 8.35%.

Insider Buying and Selling

In related news, COO Robert Parahus sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $149.66, for a total transaction of $1,122,450.00. Following the sale, the chief operating officer directly owned 23,457 shares of the company's stock, valued at $3,510,574.62. This represents a 24.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Douglas C. Jr. Yearley sold 77,957 shares of Toll Brothers stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $156.58, for a total value of $12,206,507.06. Following the completion of the transaction, the chairman owned 321,256 shares of the company's stock, valued at approximately $50,302,264.48. This trade represents a 19.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

TOL has been the topic of a number of research reports. Piper Sandler lowered Toll Brothers from an "overweight" rating to a "neutral" rating in a report on Tuesday, June 9th. Benchmark started coverage on shares of Toll Brothers in a report on Tuesday, June 9th. They issued a "buy" rating for the company. Oppenheimer downgraded Toll Brothers from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 9th. BTIG Research began coverage on shares of Toll Brothers in a research report on Tuesday, June 9th. They set a "buy" rating for the company. Finally, Citigroup raised their price objective on Toll Brothers from $176.00 to $179.00 and gave the company a "buy" rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Toll Brothers currently has a consensus rating of "Moderate Buy" and an average target price of $166.25.

Toll Brothers Profile

Toll Brothers, Inc is a publicly traded homebuilding company that focuses on designing and constructing luxury residential properties. The company's core business encompasses a broad range of housing products, including custom single-family homes, upscale condominium communities and rental apartment ventures. Toll Brothers emphasizes high-end finishes and architectural craftsmanship, positioning itself in the premium segment of the U.S. housing market.

In addition to traditional homebuilding, Toll Brothers operates specialized divisions to address evolving consumer preferences.

Want to see what other hedge funds are holding TOL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Toll Brothers Inc. (NYSE:TOL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source