Baird Financial Group Inc. Invests $17.09 Million in Toll Brothers Inc. $TOL

Key Points

• Baird Financial Group purchased 103,709 Toll Brothers shares worth approximately $17.09 million, giving it a 0.11% stake. Institutional investors and hedge funds collectively own 91.76% of the company.
• Analyst sentiment remains positive, with 13 Buy ratings, five Holds and one Sell; the stock has a consensus “Moderate Buy” rating 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. Two executives also sold shares in June, while the company maintains a quarterly dividend of $0.26 per share.

Baird Financial Group Inc. bought a new stake in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 103,709 shares of the construction company's stock, valued at approximately $17,086,000. Baird Financial Group Inc. owned approximately 0.11% of Toll Brothers as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Hilton Head Capital Partners LLC boosted its position in shares of Toll Brothers by 65.5% during the 1st quarter. Hilton Head Capital Partners LLC now owns 187 shares of the construction company's stock valued at $26,000 after purchasing an additional 74 shares in the last quarter. 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 stake in shares of Toll Brothers in the 4th quarter worth approximately $27,000. Continuum Advisory LLC bought a new stake in shares of Toll Brothers in the 2nd quarter worth approximately $28,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Toll Brothers during the third quarter valued at approximately $29,000. 91.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TOL shares. Evercore restated an "outperform" rating and issued a $191.00 target price on shares of Toll Brothers in a report on Thursday, August 20th. Keefe, Bruyette & Woods upped their target price on Toll Brothers from $161.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, August 28th. Truist Financial increased their price target on Toll Brothers from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Oppenheimer cut Toll Brothers from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 9th. Finally, Benchmark started coverage on Toll Brothers in a report on Tuesday, June 9th. They set a "buy" rating on the stock. Thirteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $167.27.

Insider Buying and Selling

In related news, COO Robert Parahus sold 7,500 shares of Toll Brothers stock in a transaction on 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 sale, the chief operating officer owned 23,457 shares of the company's stock, valued at approximately $3,510,574.62. The trade was a 24.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the company's stock in a transaction on Thursday, June 18th. The stock was 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 $50,302,264.48. This represents a 19.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.37% of the stock is owned by insiders.

Toll Brothers Price Performance

Shares of NYSE:TOL opened at $134.88 on Friday. The company has a current ratio of 4.53, a quick ratio of 0.55 and a debt-to-equity ratio of 0.32. Toll Brothers Inc. has a 1 year low of $123.14 and a 1 year high of $168.36. The business has a fifty day simple moving average of $147.41 and a 200 day simple moving average of $144.78. The firm has a market cap of $12.43 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 1.09 and a beta of 1.34.

Toll Brothers (NYSE:TOL - Get Free Report) last issued its earnings results on Tuesday, August 18th. The construction company reported $2.97 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the company posted $3.73 earnings per share. The business's quarterly revenue was down 9.7% compared to the same quarter last year. As a group, sell-side analysts predict that Toll Brothers Inc. will post 12.81 earnings per share for the current fiscal year.

Toll Brothers Announces Dividend

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

About Toll Brothers

Toll Brothers, Inc is a luxury homebuilding company that designs, constructs, markets and sells residential properties in the United States. The company develops communities featuring single-family detached homes, townhomes and condominiums, as well as active-adult communities and urban high-rise residences. Its offerings generally target move-up, luxury and resort-style homebuyers, with homes available in a range of designs, locations and customization options.

Through related operations, Toll Brothers also provides mortgage financing, title and settlement services, homeowners insurance and other services that support the home purchase process.

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