24,135 Shares in Toll Brothers Inc. $TOL Bought by Steamboat Capital Partners LLC

Key Points

• Steamboat Capital Partners initiated a Toll Brothers stake of 24,135 shares valued at approximately $3.98 million during the second quarter. Institutional investors and hedge funds collectively own 91.76% of the homebuilder.
• Analyst sentiment remains positive, with 14 Buy ratings, four Holds, and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $167.27.
• Toll Brothers exceeded quarterly earnings and revenue expectations, reporting $2.97 in EPS and $2.66 billion in revenue, though revenue fell 9.7% year over year. Shares opened at $136.56, down 3.6%, while the company maintains a $0.26 quarterly dividend.

Steamboat Capital Partners LLC bought a new stake in Toll Brothers Inc. (NYSE:TOL - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 24,135 shares of the construction company's stock, valued at approximately $3,976,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TOL. Baird Financial Group Inc. acquired a new position in shares of Toll Brothers during the 2nd quarter worth about $17,086,000. West Family Investments Inc. bought a new stake in Toll Brothers during the second quarter worth about $330,000. Waverly Advisors LLC boosted its holdings in shares of Toll Brothers by 76.8% in the 2nd quarter. Waverly Advisors LLC now owns 69,147 shares of the construction company's stock valued at $11,392,000 after buying an additional 30,036 shares during the last quarter. Bank OZK lifted its stake in Toll Brothers by 7.3% in the 2nd quarter. Bank OZK now owns 19,500 shares of the construction company's stock valued at $3,213,000 after purchasing an additional 1,326 shares during the last quarter. Finally, Empirical Finance LLC acquired a new stake in Toll Brothers during the 2nd quarter valued at $708,000. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TOL has been the topic of several recent research reports. Truist Financial raised 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. Keefe, Bruyette & Woods increased their price target on Toll Brothers from $161.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, August 28th. Piper Sandler lowered Toll Brothers from an "overweight" rating to a "neutral" rating in a research note on Tuesday, June 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $158.00 price objective on shares of Toll Brothers in a report on Thursday, June 11th. Finally, Citigroup increased their target price on Toll Brothers from $176.00 to $179.00 and gave the stock a "buy" rating in a report on Friday, August 21st. Fourteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Toll Brothers currently has an average rating of "Moderate Buy" and a consensus price target of $167.27.

Toll Brothers Stock Down 3.6%

Shares of TOL opened at $136.56 on Wednesday. Toll Brothers Inc. has a one year low of $123.14 and a one year high of $168.36. The company has a market cap of $12.58 billion, a P/E ratio of 10.96, a P/E/G ratio of 1.14 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.53 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $148.81 and a two-hundred day simple moving average of $145.24.

Toll Brothers (NYSE:TOL - Get Free Report) last released 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 return on equity of 14.21% and a net margin of 11.14%.The firm had revenue of $2.66 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same period in the prior year, the company earned $3.73 earnings per share. The company's quarterly revenue was down 9.7% on a year-over-year basis. Research analysts forecast that Toll Brothers Inc. will post 12.81 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, July 10th. Toll Brothers's dividend payout ratio is currently 8.35%.

Insider Activity

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

Toll Brothers Company 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.

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