California Public Employees Retirement System Increases Stock Holdings in Toll Brothers Inc. $TOL

Key Points

• CalPERS increased its Toll Brothers stake by 10.1% in the first quarter, adding 18,399 shares to reach 201,287 shares valued at about $27.5 million.
• Analysts remain constructive on TOL, with Citigroup and KBW upgrading the stock and the consensus rating sitting at “Moderate Buy” with an average price target of $164.88.
• Toll Brothers reported better-than-expected quarterly results, posting EPS of $2.72 on revenue of $2.53 billion, while also announcing a quarterly dividend of $0.26 per share.

California Public Employees Retirement System increased its stake in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 10.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 201,287 shares of the construction company's stock after acquiring an additional 18,399 shares during the period. California Public Employees Retirement System owned approximately 0.21% of Toll Brothers worth $27,470,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in Toll Brothers by 2,067.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,303,915 shares of the construction company's stock valued at $446,756,000 after acquiring an additional 3,151,509 shares in the last quarter. Norges Bank acquired a new position in shares of Toll Brothers during the fourth quarter worth $168,312,000. Bamco Inc. NY lifted its position in shares of Toll Brothers by 0.8% during the fourth quarter. Bamco Inc. NY now owns 1,166,270 shares of the construction company's stock worth $157,703,000 after purchasing an additional 9,385 shares in the last quarter. Morgan Stanley boosted its stake in shares of Toll Brothers by 3.3% in the fourth quarter. Morgan Stanley now owns 1,105,793 shares of the construction company's stock valued at $149,526,000 after purchasing an additional 35,719 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Toll Brothers by 20.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,105,754 shares of the construction company's stock valued at $149,520,000 after purchasing an additional 188,570 shares during the period. Hedge funds and other institutional investors own 91.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TOL. Citigroup raised shares of Toll Brothers from a "neutral" rating to a "buy" rating and raised their price target for the company from $146.00 to $176.00 in a report on Friday, July 10th. Keefe, Bruyette & Woods raised shares of Toll Brothers from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $158.00 to $161.00 in a research report on Tuesday, June 9th. Truist Financial lowered their target price on Toll Brothers from $170.00 to $165.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. UBS Group raised Toll Brothers from a "buy" rating to a "buy" rating in a research report on Tuesday, June 9th. Finally, Oppenheimer lowered Toll Brothers from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $164.88.

Toll Brothers Stock Up 0.1%

TOL stock opened at $147.15 on Wednesday. Toll Brothers Inc. has a twelve month low of $117.50 and a twelve month high of $168.36. The company has a current ratio of 4.67, a quick ratio of 0.59 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $13.75 billion, a P/E ratio of 11.13, a PEG ratio of 1.21 and a beta of 1.34. The firm has a 50 day simple moving average of $146.06 and a 200-day simple moving average of $145.43.

Toll Brothers (NYSE:TOL - Get Free Report) last posted 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. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.42 billion. Toll Brothers had a net margin of 11.66% and a return on equity of 15.47%. The firm's quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.50 earnings per share. On average, equities research analysts predict that Toll Brothers Inc. will post 12.69 earnings per share for the current fiscal year.

Toll Brothers Announces Dividend

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

Insider Transactions at Toll Brothers

In related news, COO Robert Parahus sold 7,500 shares of Toll Brothers stock in a transaction dated Thursday, June 18th. The stock was 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 directly owned 23,457 shares in the company, valued at approximately $3,510,574.62. This trade represents a 24.23% decrease in their ownership of the stock. 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 business's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $156.58, for a total value of $12,206,507.06. Following the completion of the sale, the chairman directly owned 321,256 shares of the company's stock, valued at approximately $50,302,264.48. This represents a 19.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.37% of the company's stock.

About Toll Brothers

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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