21,124 Toll Brothers Inc. $TOL Shares Sold by Alps Advisors Inc.

Key Points

• Alps Advisors cut its Toll Brothers stake by 44.6% in the third quarter, selling 21,124 shares; it retained 26,282 shares valued at about $3.54 million. Institutional investors and hedge funds own 91.76% of the stock.
• Analyst sentiment is broadly positive: Toll Brothers has a consensus “Moderate Buy” rating and an average price target of $167.40, versus a recent opening price of $156.44.
• The company beat quarterly earnings and revenue estimates, but revenue fell 9.7% year over year and EPS declined from $3.73 to $2.97.

Alps Advisors Inc. trimmed its position in Toll Brothers Inc. (NYSE:TOL - Free Report) by 44.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,282 shares of the construction company's stock after selling 21,124 shares during the quarter. Alps Advisors Inc.'s holdings in Toll Brothers were worth $3,542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TOL. Continuum Advisory LLC purchased a new stake in shares of Toll Brothers in the second quarter valued at approximately $28,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Toll Brothers during the second quarter valued at approximately $35,000. Compass Financial Management LLC purchased a new position in shares of Toll Brothers in the second quarter valued at approximately $51,000. Caitlin John LLC purchased a new position in shares of Toll Brothers in the second quarter valued at approximately $53,000. Finally, Fiduciary Financial Advisors purchased a new position in shares of Toll Brothers in the second quarter valued at approximately $53,000. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Melius Research initiated coverage on Toll Brothers in a research report on Tuesday, October 6th. They set a "buy" rating and a $179.00 price target for the company. Weiss Ratings upgraded Toll Brothers from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, September 29th. Royal Bank Of Canada decreased their price objective on Toll Brothers from $158.00 to $148.00 and set an "outperform" rating on the stock in a report on Thursday, October 15th. Stonex Financial raised shares of Toll Brothers to a "strong-buy" rating in a research note on Thursday, October 15th. Finally, Truist Financial upped their target price on shares of Toll Brothers from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Toll Brothers currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.40.

Toll Brothers Stock Up 2.5%

Shares of TOL opened at $156.44 on Tuesday. The company's 50-day simple moving average is $138.70 and its 200-day simple moving average is $144.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.55 and a current ratio of 4.53. Toll Brothers Inc. has a 1 year low of $123.14 and a 1 year high of $168.36. The stock has a market capitalization of $14.42 billion, a PE ratio of 12.72, a P/E/G ratio of 1.18 and a beta of 1.30.

Toll Brothers (NYSE:TOL - Get Free Report) last announced its earnings results on Tuesday, August 18th. The construction company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.04. Toll Brothers had a net margin of 11.14% and a return on equity of 14.21%. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the firm earned $3.73 EPS. The firm's revenue for the quarter was down 9.7% on a year-over-year basis. Analysts forecast that Toll Brothers Inc. will post 12.80 earnings per share for the current fiscal year.

Toll Brothers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 9th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, October 9th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.7%. Toll Brothers's payout ratio is currently 8.35%.

Insider Buying and Selling at Toll Brothers

In related news, Director Stephen East sold 800 shares of the firm's stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $135.99, for a total value of $108,792.00. Following the sale, the director owned 12,642 shares of the company's stock, valued at $1,719,185.58. This trade represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.37% of the company's stock.

About Toll Brothers

Toll Brothers, Inc is a U.S. homebuilding company focused primarily on designing, building, marketing and selling luxury residential properties. Its offerings include single-family detached homes, townhomes and condominiums, as well as age-qualified communities and urban high-rise residences.

Founded in 1967 by brothers Bob and Bruce Toll, the company has expanded from its Pennsylvania roots to serve homebuyers in markets across the United States. Its communities are generally designed for move-up, luxury and active-adult buyers.

In addition to homebuilding, Toll Brothers provides related services that support its communities and customers, including land development and mortgage, title and insurance services.

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