Assetmark Inc. Purchases 6,290 Shares of Toll Brothers Inc. (NYSE:TOL)

Key Points

• Assetmark Inc. increased its stake in Toll Brothers Inc. by 3.5%, acquiring 6,290 shares to own a total of 184,060 shares valued at approximately $19.4 million.
• Several institutional investors are boosting their positions in Toll Brothers, with over 91% of the stock currently owned by institutions.
• Toll Brothers recently reported earnings of $3.50 per share, exceeding analyst expectations, but experienced a 3.5% decline in revenue compared to the previous year.

Assetmark Inc. lifted its holdings in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,060 shares of the construction company's stock after purchasing an additional 6,290 shares during the quarter. Assetmark Inc. owned 0.18% of Toll Brothers worth $19,435,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Blair William & Co. IL grew its holdings in shares of Toll Brothers by 53.7% during the fourth quarter. Blair William & Co. IL now owns 29,009 shares of the construction company's stock worth $3,654,000 after buying an additional 10,140 shares in the last quarter. Norges Bank bought a new position in Toll Brothers in the fourth quarter valued at approximately $149,924,000. New Age Alpha Advisors LLC bought a new position in Toll Brothers in the fourth quarter valued at approximately $2,783,000. Pictet Asset Management Holding SA grew its stake in Toll Brothers by 21.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 784,412 shares of the construction company's stock valued at $98,797,000 after purchasing an additional 140,133 shares in the last quarter. Finally, Level Four Advisory Services LLC bought a new stake in Toll Brothers in the fourth quarter valued at approximately $214,000. Institutional investors and hedge funds own 91.76% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. UBS Group reiterated a "buy" rating on shares of Toll Brothers in a research note on Tuesday, May 20th. Wedbush reiterated an "outperform" rating on shares of Toll Brothers in a research note on Tuesday, May 20th. Keefe, Bruyette & Woods reduced their target price on Toll Brothers from $132.00 to $120.00 and set a "market perform" rating for the company in a research note on Tuesday, May 20th. Wall Street Zen upgraded Toll Brothers from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Barclays restated an "underweight" rating on shares of Toll Brothers in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $141.85.

Insiders Place Their Bets

In other Toll Brothers news, Director Stephen F. East sold 2,500 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $115.33, for a total value of $288,325.00. Following the completion of the transaction, the director owned 12,787 shares in the company, valued at $1,474,724.71. This trade represents a 16.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michael J. Grubb sold 500 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $120.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief accounting officer directly owned 2,439 shares in the company, valued at $292,680. The trade was a 17.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,770 shares of company stock worth $440,586 in the last quarter. 1.54% of the stock is owned by company insiders.

Toll Brothers Stock Performance

Shares of Toll Brothers stock traded down $0.92 during trading hours on Wednesday, hitting $121.95. 143,194 shares of the company's stock traded hands, compared to its average volume of 1,795,402. Toll Brothers Inc. has a 12-month low of $86.67 and a 12-month high of $169.52. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 1.28 and a beta of 1.36. The company has a fifty day simple moving average of $113.03 and a 200-day simple moving average of $112.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.21 and a quick ratio of 0.44.

Toll Brothers (NYSE:TOL - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The construction company reported $3.50 EPS for the quarter, beating the consensus estimate of $2.86 by $0.64. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.50 billion. Toll Brothers had a net margin of 12.95% and a return on equity of 17.87%. The company's revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.38 earnings per share. Equities research analysts anticipate that Toll Brothers Inc. will post 13.83 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a $0.25 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.00 annualized dividend and a yield of 0.82%. Toll Brothers's dividend payout ratio is currently 7.42%.

About Toll Brothers

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for a range of detached and attached homes in luxury residential communities in the United States. It designs, builds, markets, and sells condominiums through Toll Brothers City Living. The company also develops a range of single-story living and first-floor primary bedroom suite home designs, as well as communities with recreational amenities, such as golf courses, marinas, pool complexes, country clubs, and fitness and recreation centers; and develops, operates, and rents apartments.