Castleark Management LLC Has $2.73 Million Holdings in Toll Brothers Inc. $TOL

Key Points

• Castleark Management cut its Toll Brothers position by 67.8% in the second quarter, selling 34,830 shares and retaining 16,573 shares valued at approximately $2.73 million.
• Analyst sentiment remains positive overall, with 15 Buy ratings, four Holds and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $166.67.
• Toll Brothers exceeded quarterly expectations with earnings of $2.97 per share and revenue of $2.66 billion, although revenue fell 9.7% year over year. Executives also sold shares, while the company maintains a $0.26 quarterly dividend yielding about 0.7%.

Castleark Management LLC trimmed its holdings in Toll Brothers Inc. (NYSE:TOL - Free Report) by 67.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,573 shares of the construction company's stock after selling 34,830 shares during the period. Castleark Management LLC's holdings in Toll Brothers were worth $2,730,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TOL. Hilton Head Capital Partners LLC boosted its holdings in shares of 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 acquiring an additional 74 shares during the period. Wiser Advisor Group LLC acquired a new stake in Toll Brothers during the 3rd quarter worth approximately $27,000. Pinnacle Holdings LLC bought a new stake in Toll Brothers in the 4th quarter valued at $27,000. Measured Wealth Private Client Group LLC bought a new position in Toll Brothers during the 3rd quarter worth $29,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Toll Brothers during the second quarter worth $35,000. 91.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Oppenheimer downgraded shares of Toll Brothers from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 9th. Benchmark began coverage on shares of Toll Brothers in a research report on Tuesday, June 9th. They set a "buy" rating on the stock. Piper Sandler downgraded shares of Toll Brothers from an "overweight" rating to a "neutral" rating in a research report on Tuesday, June 9th. Keefe, Bruyette & Woods raised Toll Brothers from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $158.00 to $161.00 in a research report on Tuesday, June 9th. Finally, Weiss Ratings upgraded Toll Brothers from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 17th. Fifteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $166.67.

Insider Activity

In other Toll Brothers news, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the firm's stock in a transaction that occurred on 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 sale, the chairman owned 321,256 shares in the company, valued at $50,302,264.48. This trade represents a 19.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Robert Parahus sold 7,500 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief operating officer owned 23,457 shares in the company, valued at $3,510,574.62. This represents a 24.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.37% of the stock is currently owned by insiders.

Toll Brothers Stock Performance

Shares of NYSE:TOL opened at $148.32 on Thursday. The company's 50 day simple moving average is $151.86 and its 200 day simple moving average is $146.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.53 and a quick ratio of 0.55. Toll Brothers Inc. has a 1 year low of $123.14 and a 1 year high of $168.36. The stock has a market capitalization of $13.86 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.35.

Toll Brothers (NYSE:TOL - Get Free Report) last issued its earnings results on Tuesday, August 18th. The construction company reported $2.97 earnings per share 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 last year, the business posted $3.73 EPS. The company's revenue was down 9.7% compared to the same quarter last year. As a group, research analysts predict that Toll Brothers Inc. will post 12.81 EPS 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 dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.04 annualized dividend and a yield of 0.7%. Toll Brothers's payout ratio is presently 8.35%.

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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