Highland Capital Management LLC Acquires 17,770 Shares of Toll Brothers Inc. $TOL

Key Points

• Highland Capital raised its Toll Brothers stake by 56.1%, adding 17,770 shares to hold 49,470 shares (about $6.69M), and institutional investors now own roughly 91.76% of the stock.
• Toll Brothers beat quarterly expectations (EPS $2.19 vs $2.05; revenue $2.15B vs $1.86B), and analysts' consensus is a Moderate Buy with an average target price of $164.44.
• Company insiders have been selling (the CEO sold 45,116 shares), while Toll Brothers raised its quarterly dividend to $0.26 per share (annualized $1.04, yield 0.8%).

Highland Capital Management LLC raised its holdings in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 56.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,470 shares of the construction company's stock after acquiring an additional 17,770 shares during the quarter. Highland Capital Management LLC owned approximately 0.05% of Toll Brothers worth $6,689,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Candriam S.C.A. bought a new stake in Toll Brothers during the 3rd quarter valued at $5,407,000. Allspring Global Investments Holdings LLC increased its stake in Toll Brothers by 25.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 108,379 shares of the construction company's stock valued at $14,694,000 after purchasing an additional 21,907 shares in the last quarter. Alps Advisors Inc. bought a new stake in Toll Brothers during the 3rd quarter valued at $6,929,000. Allianz Asset Management GmbH increased its stake in Toll Brothers by 11.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 226,911 shares of the construction company's stock valued at $31,345,000 after purchasing an additional 22,687 shares in the last quarter. Finally, Advisors Capital Management LLC bought a new stake in Toll Brothers during the 3rd quarter valued at $2,514,000. 91.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on TOL shares. Truist Financial decreased their price target on shares of Toll Brothers from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, April 16th. Royal Bank Of Canada upped their price objective on Toll Brothers from $144.00 to $161.00 and gave the company an "outperform" rating in a research note on Thursday, February 19th. Barclays cut their price target on Toll Brothers from $116.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 8th. Evercore upgraded Toll Brothers from an "in-line" rating to an "outperform" rating and set a $176.00 price target for the company in a research note on Monday, April 13th. Finally, Seaport Research Partners reiterated a "neutral" rating on shares of Toll Brothers in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $164.44.

Insider Activity

In other news, Director Stephen F. East sold 1,000 shares of Toll Brothers stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $139.70, for a total value of $139,700.00. Following the completion of the transaction, the director owned 13,442 shares of the company's stock, valued at $1,877,847.40. The trade was a 6.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas C. Jr. Yearley sold 45,116 shares of Toll Brothers stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $160.42, for a total value of $7,237,508.72. Following the completion of the transaction, the chief executive officer directly owned 321,256 shares of the company's stock, valued at approximately $51,535,887.52. This represents a 12.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.37% of the stock is owned by insiders.

Toll Brothers Price Performance

Toll Brothers stock opened at $135.24 on Tuesday. The business has a 50-day simple moving average of $143.48 and a 200 day simple moving average of $141.87. The stock has a market cap of $12.81 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 1.09 and a beta of 1.39. Toll Brothers Inc. has a 52 week low of $100.92 and a 52 week high of $168.36. The company has a quick ratio of 0.62, a current ratio of 4.57 and a debt-to-equity ratio of 0.32.

Toll Brothers (NYSE:TOL - Get Free Report) last issued its earnings results on Tuesday, February 17th. The construction company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.14. The company had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $1.86 billion. Toll Brothers had a return on equity of 16.83% and a net margin of 12.26%.Toll Brothers's quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.75 EPS. On average, research analysts forecast that Toll Brothers Inc. will post 12.67 earnings per share for the current fiscal year.

Toll Brothers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 10th were given a dividend of $0.26 per share. This is an increase from Toll Brothers's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, April 10th. Toll Brothers's dividend payout ratio is presently 7.43%.

Toll Brothers Profile

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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