Bank of New York Mellon Corp Grows Holdings in Toll Brothers Inc. $TOL

Key Points

• Bank of New York Mellon increased its Toll Brothers stake by 1.4% in the fourth quarter, ending with 1,034,687 shares valued at about $139.9 million. Other hedge funds also added to or initiated positions, and institutional investors now own 91.76% of the stock.
• Toll Brothers shares were down 1.4% to $137.83, with the company carrying a market cap of $12.88 billion and a P/E ratio of 10.43. The stock has traded between a 52-week low of $104.09 and a high of $168.36.
• The homebuilder reported Q2 EPS of $2.72, beating estimates of $2.58, and revenue of $2.53 billion, also above expectations. Toll Brothers also raised its quarterly dividend to $0.26 per share, while analysts currently rate the stock a Moderate Buy with an average target price of $164.13.

Bank of New York Mellon Corp boosted its position in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,034,687 shares of the construction company's stock after acquiring an additional 14,437 shares during the quarter. Bank of New York Mellon Corp owned 1.09% of Toll Brothers worth $139,910,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Candriam S.C.A. purchased a new stake in Toll Brothers during the 3rd quarter worth approximately $5,407,000. Allspring Global Investments Holdings LLC increased its stake in Toll Brothers by 25.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 108,379 shares of the construction company's stock worth $14,694,000 after buying an additional 21,907 shares during the period. Alps Advisors Inc. purchased a new stake in shares of Toll Brothers in the 3rd quarter valued at approximately $6,929,000. Advisors Capital Management LLC purchased a new stake in shares of Toll Brothers in the 3rd quarter valued at approximately $2,514,000. Finally, Rhumbline Advisers lifted its stake in Toll Brothers by 2.8% during the third quarter. Rhumbline Advisers now owns 268,843 shares of the construction company's stock worth $37,138,000 after purchasing an additional 7,388 shares during the last quarter. Institutional investors and hedge funds own 91.76% of the company's stock.

Toll Brothers Stock Down 1.4%

Shares of NYSE:TOL opened at $137.83 on Friday. Toll Brothers Inc. has a 1-year low of $104.09 and a 1-year high of $168.36. The stock has a market cap of $12.88 billion, a P/E ratio of 10.43, a P/E/G ratio of 1.14 and a beta of 1.36. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.67 and a quick ratio of 0.59. The firm has a fifty day moving average price of $138.08 and a 200 day moving average price of $141.92.

Toll Brothers (NYSE:TOL - Get Free Report) last released its earnings results on Tuesday, May 19th. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.58 by $0.14. Toll Brothers had a net margin of 11.66% and a return on equity of 15.47%. The company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.42 billion. During the same quarter last year, the business earned $3.50 EPS. The business's revenue was down 7.6% on a year-over-year basis. Sell-side analysts predict that Toll Brothers Inc. will post 12.67 EPS for the current year.

Toll Brothers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 10th were paid a $0.26 dividend. This is a boost from Toll Brothers's previous quarterly dividend of $0.25. The ex-dividend date was Friday, April 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. Toll Brothers's dividend payout ratio (DPR) is 7.87%.

Insider Activity at Toll Brothers

In other news, Director Stephen F. East sold 1,000 shares of the firm's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $139.70, for a total value of $139,700.00. Following the completion of the sale, the director owned 13,442 shares in the company, valued at approximately $1,877,847.40. This trade represents a 6.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TOL shares. Royal Bank Of Canada dropped their target price on shares of Toll Brothers from $161.00 to $158.00 and set an "outperform" rating on the stock in a research report on Thursday, May 21st. Oppenheimer reaffirmed an "outperform" rating and issued a $180.00 target price (up from $177.00) on shares of Toll Brothers in a research report on Thursday, February 19th. Truist Financial dropped their target price on shares of Toll Brothers from $170.00 to $165.00 and set a "buy" rating on the stock in a research report on Thursday, May 21st. Evercore reaffirmed an "outperform" rating and issued a $185.00 target price on shares of Toll Brothers in a research report on Thursday, May 21st. Finally, Barclays decreased their price target on shares of Toll Brothers from $116.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $164.13.

Toll Brothers 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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