Corebridge Financial Inc. Sells 3,922 Shares of Toll Brothers Inc. $TOL

Key Points

• Corebridge Financial Inc. reduced its holdings in Toll Brothers Inc. by selling 3,922 shares, resulting in a 3.4% decrease in their position to 110,328 shares worth approximately $11.65 million.
• Several institutional investors increased their stakes in Toll Brothers, with Mitsubishi UFJ Asset Management Co. Ltd. notably growing its position by 218.4% during the first quarter.
• Analyst ratings for Toll Brothers have varied, with Oppenheimer lowering its price target to $155, while Wells Fargo raised it to $150, indicating a positive outlook amidst mixed opinions.

Corebridge Financial Inc. decreased its position in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,328 shares of the construction company's stock after selling 3,922 shares during the period. Corebridge Financial Inc. owned 0.11% of Toll Brothers worth $11,650,000 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. Sound Income Strategies LLC increased its stake in shares of Toll Brothers by 84.2% in the first quarter. Sound Income Strategies LLC now owns 245 shares of the construction company's stock worth $26,000 after purchasing an additional 112 shares during the period. Brooklyn Investment Group grew its holdings in Toll Brothers by 52.8% in the 1st quarter. Brooklyn Investment Group now owns 272 shares of the construction company's stock valued at $29,000 after buying an additional 94 shares during the last quarter. Larson Financial Group LLC grew its holdings in Toll Brothers by 152.6% in the 1st quarter. Larson Financial Group LLC now owns 293 shares of the construction company's stock valued at $31,000 after buying an additional 177 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Toll Brothers by 218.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the construction company's stock worth $38,000 after buying an additional 249 shares during the period. Finally, Quarry LP lifted its holdings in shares of Toll Brothers by 1,035.7% during the fourth quarter. Quarry LP now owns 318 shares of the construction company's stock worth $40,000 after buying an additional 290 shares during the last quarter. 91.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TOL shares. Oppenheimer lowered their price objective on shares of Toll Brothers from $165.00 to $155.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. UBS Group reissued a "buy" rating on shares of Toll Brothers in a report on Tuesday, May 20th. Raymond James Financial restated a "strong-buy" rating and set a $160.00 price objective (up previously from $130.00) on shares of Toll Brothers in a report on Monday. Wells Fargo & Company upped their price objective on shares of Toll Brothers from $140.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Finally, Citigroup increased their target price on shares of Toll Brothers from $134.00 to $138.00 and gave the company a "neutral" rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Toll Brothers has a consensus rating of "Moderate Buy" and an average target price of $145.92.

Toll Brothers Price Performance

NYSE:TOL opened at $137.94 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.51 and a current ratio of 4.38. The company has a 50-day moving average of $121.94 and a 200-day moving average of $111.44. Toll Brothers Inc. has a 52 week low of $86.67 and a 52 week high of $169.52. The company has a market capitalization of $13.54 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 0.90 and a beta of 1.33.

Toll Brothers (NYSE:TOL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The construction company reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.59 by $0.14. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.86 billion. Toll Brothers had a net margin of 12.64% and a return on equity of 17.42%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.60 earnings per share. As a group, equities research analysts anticipate that Toll Brothers Inc. will post 13.83 earnings per share for the current fiscal year.

Toll Brothers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. Toll Brothers's dividend payout ratio is presently 7.35%.

Insider Buying and Selling

In other Toll Brothers news, Director Stephen F. East sold 2,500 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $115.33, for a total transaction of $288,325.00. Following the completion of the transaction, the director directly owned 12,787 shares in the company, valued at $1,474,724.71. This represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Michael J. Grubb sold 500 shares of Toll Brothers stock in a transaction on Monday, July 14th. The shares were sold at an average price of $120.00, for a total value of $60,000.00. Following the transaction, the chief accounting officer directly owned 2,439 shares of the company's stock, valued at approximately $292,680. The trade was a 17.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,601 shares of company stock worth $1,726,874 over the last 90 days. Corporate insiders own 1.54% of the company's stock.

Toll Brothers Company Profile

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for a range of detached and attached homes in luxury residential communities in the United States. It designs, builds, markets, and sells condominiums through Toll Brothers City Living. The company also develops a range of single-story living and first-floor primary bedroom suite home designs, as well as communities with recreational amenities, such as golf courses, marinas, pool complexes, country clubs, and fitness and recreation centers; and develops, operates, and rents apartments.

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