Drive Wealth Management LLC Takes $455,000 Position in Toll Brothers Inc. (NYSE:TOL)

Key Points

• Drive Wealth Management LLC has bought 4,313 shares of Toll Brothers Inc., valued at approximately $455,000, indicating increased interest in the construction company.
• Despite the recent buy, insiders of Toll Brothers have been selling shares, with CAO Michael J. Grubb and Director Stephen F. East reducing their holdings, which could signal potential concerns regarding the company's future performance.
• Analysts have mixed opinions on Toll Brothers, with price targets ranging from $120 to $169, and a consensus rating of “Moderate Buy” reflecting varying expectations for the stock's performance.

Drive Wealth Management LLC bought a new position in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,313 shares of the construction company's stock, valued at approximately $455,000.

A number of other large investors have also bought and sold shares of the business. Assetmark Inc. increased its stake in Toll Brothers by 3.5% during the 1st quarter. Assetmark Inc. now owns 184,060 shares of the construction company's stock worth $19,435,000 after purchasing an additional 6,290 shares in the last quarter. Brookwood Investment Group LLC bought a new stake in Toll Brothers during the 1st quarter worth approximately $228,000. Machina Capital S.A.S. bought a new stake in Toll Brothers during the 1st quarter worth approximately $214,000. AE Wealth Management LLC acquired a new position in Toll Brothers during the 1st quarter worth approximately $285,000. Finally, Wedbush Securities Inc. boosted its position in Toll Brothers by 26.4% during the 1st quarter. Wedbush Securities Inc. now owns 7,135 shares of the construction company's stock worth $753,000 after acquiring an additional 1,489 shares during the last quarter. 91.76% of the stock is owned by institutional investors.

Insider Activity at Toll Brothers

In related news, CAO Michael J. Grubb sold 500 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $120.00, for a total value of $60,000.00. Following the sale, the chief accounting officer directly owned 2,439 shares of the company's stock, valued at $292,680. This trade represents a 17.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Christine Garvey sold 770 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $119.82, for a total value of $92,261.40. Following the completion of the sale, the director directly owned 11,590 shares in the company, valued at $1,388,713.80. This trade represents a 6.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,770 shares of company stock valued at $440,586 over the last ninety days. 1.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TOL has been the subject of a number of recent research reports. Oppenheimer reduced their price target on Toll Brothers from $165.00 to $155.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. UBS Group reissued a "buy" rating on shares of Toll Brothers in a report on Tuesday, May 20th. Wells Fargo & Company increased their price objective on Toll Brothers from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Seaport Res Ptn upgraded Toll Brothers from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI restated an "outperform" rating and issued a $169.00 price target (up previously from $167.00) on shares of Toll Brothers in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $141.85.

Toll Brothers Price Performance

Shares of NYSE TOL traded down $1.09 during mid-day trading on Wednesday, reaching $121.78. The company had a trading volume of 244,647 shares, compared to its average volume of 1,795,796. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.44 and a current ratio of 4.21. Toll Brothers Inc. has a one year low of $86.67 and a one year high of $169.52. The firm has a market cap of $11.96 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 1.28 and a beta of 1.36. The business's 50-day simple moving average is $113.03 and its 200 day simple moving average is $112.18.

Toll Brothers (NYSE:TOL - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The construction company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.64. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.50 billion. Toll Brothers had a return on equity of 17.87% and a net margin of 12.95%. Toll Brothers's revenue was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $3.38 earnings per share. On average, research analysts predict that Toll Brothers Inc. will post 13.83 earnings per share for the current fiscal year.

Toll Brothers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.82%. The ex-dividend date was Friday, July 11th. Toll Brothers's dividend payout ratio (DPR) is presently 7.42%.

About Toll Brothers

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.