Corient Private Wealth LP purchased a new stake in Toll Brothers Inc. (NYSE:TOL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 63,030 shares of the construction company's stock, valued at approximately $10,384,000. Corient Private Wealth LP owned 0.07% of Toll Brothers at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Toll Brothers during the 2nd quarter worth about $1,610,696,000. Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $446,756,000 after acquiring an additional 3,151,509 shares during the last quarter. Norges Bank purchased a new stake in Toll Brothers in the fourth quarter valued at approximately $168,312,000. Bamco Inc. NY purchased a new stake in Toll Brothers in the second quarter valued at approximately $166,250,000. Finally, Bank of New York Mellon Corp acquired a new position in Toll Brothers during the second quarter worth approximately $164,804,000. Institutional investors and hedge funds own 91.76% of the company's stock.
Toll Brothers Trading Up 0.8%
NYSE TOL opened at $146.33 on Friday. Toll Brothers Inc. has a one year low of $123.14 and a one year high of $168.36. The company's 50 day moving average price is $151.46 and its 200 day moving average price is $146.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.55 and a current ratio of 4.53. The firm has a market capitalization of $13.68 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.20 and a beta of 1.35.
Toll Brothers (NYSE:TOL - Get Free Report) last announced its quarterly 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 net margin of 11.14% and a return on equity of 14.21%. The firm had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same period in the previous year, the company posted $3.73 earnings per share. Toll Brothers's revenue was down 9.7% compared to the same quarter last year. On average, sell-side analysts predict that Toll Brothers Inc. will post 12.81 EPS for the current year.
Toll Brothers Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were issued a dividend of $0.26 per share. The ex-dividend date was Friday, July 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. Toll Brothers's payout ratio is presently 8.35%.
Insider Buying and Selling at Toll Brothers
In related news, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the stock in a transaction on Thursday, June 18th. The stock was 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 in the company, valued at approximately $50,302,264.48. This represents a 19.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert Parahus sold 7,500 shares of the firm's stock in a transaction dated 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 transaction, the chief operating officer directly owned 23,457 shares in the company, valued at $3,510,574.62. This trade represents a 24.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.37% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on TOL shares. BTIG Research began coverage on shares of Toll Brothers in a research note on Tuesday, June 9th. They set a "buy" rating on the stock. UBS Group boosted their price objective on shares of Toll Brothers from $187.00 to $195.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. Royal Bank Of Canada restated an "outperform" rating and set a $158.00 price objective on shares of Toll Brothers in a report on Thursday, June 11th. Citigroup increased their target price on Toll Brothers from $176.00 to $179.00 and gave the stock a "buy" rating in a research report on Friday, August 21st. Finally, Truist Financial lifted their target price on Toll Brothers from $165.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Fifteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Toll Brothers has a consensus rating of "Moderate Buy" and an average price target of $167.27.
Get Our Latest Stock Analysis on Toll Brothers
Toll Brothers Company Profile
(
Free Report)
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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