Corient Private Wealth LP Reduces Holdings in Toll Brothers Inc. $TOL

Key Points

• Corient Private Wealth LP cut its Toll Brothers holdings by 49.7% in the second quarter, selling 61,929 shares and retaining 62,562 shares worth approximately $10.3 million. Institutional investors collectively own 91.76% of the company.
• Toll Brothers exceeded quarterly earnings expectations, reporting $2.97 in adjusted EPS and $2.66 billion in revenue, though revenue declined 9.7% year over year and EPS fell from $3.73 in the prior-year quarter.
• Analysts remain generally positive, with a “Moderate Buy” consensus and an average price target of $167.27. The company also declared a quarterly dividend of $0.26 per share, equating to a 0.8% annualized yield.

Corient Private Wealth LP decreased its holdings in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 49.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,562 shares of the construction company's stock after selling 61,929 shares during the quarter. Corient Private Wealth LP owned about 0.07% of Toll Brothers worth $10,307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TOL. Amundi increased its position in Toll Brothers by 138.4% during the second quarter. Amundi now owns 174,655 shares of the construction company's stock worth $28,774,000 after purchasing an additional 101,405 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Toll Brothers in the 2nd quarter valued at $4,515,000. First Eagle Investment Management LLC lifted its stake in Toll Brothers by 131.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 6,000 shares of the construction company's stock worth $988,000 after acquiring an additional 3,409 shares in the last quarter. Wedmont Private Capital purchased a new position in Toll Brothers during the 2nd quarter valued at about $316,000. Finally, HB Wealth Management LLC boosted its holdings in Toll Brothers by 9.5% during the 2nd quarter. HB Wealth Management LLC now owns 3,814 shares of the construction company's stock valued at $628,000 after acquiring an additional 330 shares during the period. Institutional investors and hedge funds own 91.76% of the company's stock.

Toll Brothers Stock Performance

Shares of Toll Brothers stock opened at $132.43 on Thursday. Toll Brothers Inc. has a one year low of $123.14 and a one year high of $168.36. The company has a market cap of $12.20 billion, a PE ratio of 10.63, a P/E/G ratio of 1.08 and a beta of 1.34. 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 business has a 50-day simple moving average of $146.39 and a 200-day simple moving average of $144.16.

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 the consensus estimate 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 quarter last year, the company earned $3.73 earnings per share. The firm's revenue was down 9.7% compared to the same quarter last year. On average, equities research analysts forecast that Toll Brothers Inc. will post 12.81 EPS for the current fiscal year.

Toll Brothers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 9th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, October 9th. Toll Brothers's dividend payout ratio (DPR) is presently 8.35%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TOL shares. Truist Financial boosted their price target on shares of Toll Brothers from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. UBS Group raised 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. Citigroup lifted their price objective on shares of Toll Brothers from $176.00 to $179.00 and gave the company a "buy" rating in a report on Friday, August 21st. Evercore reaffirmed an "outperform" rating and set a $191.00 target price on shares of Toll Brothers in a research note on Thursday, August 20th. Finally, Argus set a $170.00 target price on shares of Toll Brothers in a report on Tuesday, June 2nd. Thirteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Toll Brothers presently has an average rating of "Moderate Buy" and an average target price of $167.27.

About Toll Brothers

Toll Brothers, Inc is a luxury homebuilding company that designs, constructs, markets and sells residential properties in the United States. The company develops communities featuring single-family detached homes, townhomes and condominiums, as well as active-adult communities and urban high-rise residences. Its offerings generally target move-up, luxury and resort-style homebuyers, with homes available in a range of designs, locations and customization options.

Through related operations, Toll Brothers also provides mortgage financing, title and settlement services, homeowners insurance and other services that support the home purchase process.

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