Assetmark Inc. Has $26.08 Million Position in Toll Brothers Inc. $TOL

Key Points

• Assetmark Inc. increased its Toll Brothers stake by 6.0% in the first quarter, ending with 191,100 shares valued at about $26.1 million.
• Toll Brothers reported quarterly EPS of $2.72, topping estimates, and revenue of $2.53 billion, also above expectations, though revenue declined 7.6% year over year.
• The company declared a quarterly dividend of $0.26 per share and saw notable insider sales, including Chairman Douglas C. Jr. Yearley and COO Robert Parahus reducing their holdings.

Assetmark Inc. raised its holdings in Toll Brothers Inc. (NYSE:TOL - Free Report) by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 191,100 shares of the construction company's stock after buying an additional 10,837 shares during the quarter. Assetmark Inc. owned 0.20% of Toll Brothers worth $26,079,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TOL. Hilton Head Capital Partners LLC lifted its stake in Toll Brothers by 65.5% during the first quarter. Hilton Head Capital Partners LLC now owns 187 shares of the construction company's stock worth $26,000 after purchasing an additional 74 shares during the period. Wiser Advisor Group LLC acquired a new position in shares of Toll Brothers in the 3rd quarter worth approximately $27,000. Pinnacle Holdings LLC bought a new position in shares of Toll Brothers during the 4th quarter worth approximately $27,000. Measured Wealth Private Client Group LLC bought a new position in shares of Toll Brothers during the 3rd quarter worth approximately $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Toll Brothers in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 91.76% of the company's stock.

Toll Brothers Stock Down 3.4%

NYSE:TOL opened at $150.58 on Friday. The company has a market cap of $14.07 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 1.25 and a beta of 1.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 4.67. The stock's fifty day moving average price is $145.56 and its two-hundred day moving average price is $145.22. Toll Brothers Inc. has a 52-week low of $115.50 and a 52-week high of $168.36.

Toll Brothers (NYSE:TOL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 19th. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.14. Toll Brothers had a return on equity of 15.47% and a net margin of 11.66%.The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the prior year, the firm posted $3.50 earnings per share. The firm's revenue for the quarter was down 7.6% compared to the same quarter last year. On average, analysts anticipate that Toll Brothers Inc. will post 12.69 EPS for the current year.

Toll Brothers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Friday, July 10th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, July 10th. Toll Brothers's payout ratio is 7.87%.

Insider Buying and Selling

In other Toll Brothers news, 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 transaction of $12,206,507.06. Following the completion of the sale, the chairman owned 321,256 shares of the company's stock, valued at approximately $50,302,264.48. The trade was a 19.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert Parahus sold 7,500 shares of the company's stock in a transaction 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 owned 23,457 shares of the company's stock, valued at $3,510,574.62. The trade was a 24.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TOL. Weiss Ratings upgraded Toll Brothers from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday. Barclays increased their target price on shares of Toll Brothers from $115.00 to $122.00 and gave the stock an "underweight" rating in a research report on Tuesday. Piper Sandler downgraded shares of Toll Brothers from an "overweight" rating to a "neutral" rating in a report on Tuesday, June 9th. Argus set a $170.00 price target on shares of Toll Brothers in a research report on Tuesday, June 2nd. Finally, Keefe, Bruyette & Woods raised shares of Toll Brothers from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $158.00 to $161.00 in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $164.88.

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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