Hilltop National Bank Takes Position in Toll Brothers Inc. $TOL

Key Points

• Hilltop National Bank has acquired a new stake in Toll Brothers Inc., purchasing 8,170 shares valued at approximately $932,000 in the second quarter of 2023.
• Toll Brothers reported a quarterly earnings per share (EPS) of $3.73, surpassing analysts' expectations, and had a revenue increase of 8.0% year-over-year.
• The company announced a $0.25 quarterly dividend payable on October 24th, with an annualized yield of 0.7% and a payout ratio of 7.35%.

Hilltop National Bank purchased a new stake in Toll Brothers Inc. (NYSE:TOL - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 8,170 shares of the construction company's stock, valued at approximately $932,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Deltec Asset Management LLC acquired a new position in shares of Toll Brothers in the 2nd quarter valued at about $1,141,000. Generali Investments CEE investicni spolecnost a.s. boosted its holdings in shares of Toll Brothers by 23.5% in the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 10,000 shares of the construction company's stock valued at $1,141,000 after buying an additional 1,900 shares during the period. Greenleaf Trust acquired a new position in Toll Brothers during the 2nd quarter valued at about $211,000. HB Wealth Management LLC boosted its stake in Toll Brothers by 12.0% during the 2nd quarter. HB Wealth Management LLC now owns 2,563 shares of the construction company's stock valued at $293,000 after purchasing an additional 274 shares during the period. Finally, Consolidated Capital Management LLC boosted its stake in Toll Brothers by 3.5% during the 2nd quarter. Consolidated Capital Management LLC now owns 32,874 shares of the construction company's stock valued at $3,752,000 after purchasing an additional 1,123 shares during the period. 91.76% of the stock is owned by institutional investors and hedge funds.

Toll Brothers Stock Down 0.2%

TOL stock opened at $139.62 on Friday. 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 $13.46 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.40. The firm's 50-day moving average is $134.85 and its two-hundred day moving average is $116.50. The company has a current ratio of 4.38, a quick ratio of 0.51 and a debt-to-equity ratio of 0.36.

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

Toll Brothers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, October 10th. Toll Brothers's payout ratio is presently 7.35%.

Insiders Place Their Bets

In related news, Director Stephen F. East sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $115.33, for a total value of $288,325.00. Following the sale, the director directly owned 12,787 shares in the company, valued at $1,474,724.71. The trade was a 16.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $138.26, for a total transaction of $3,456,500.00. Following the completion of the sale, the chief executive officer owned 286,117 shares in the company, valued at $39,558,536.42. The trade was a 8.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,413 shares of company stock worth $5,746,216. Company insiders own 1.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TOL shares. Royal Bank Of Canada boosted their target price on shares of Toll Brothers from $133.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Argus boosted their target price on shares of Toll Brothers from $150.00 to $165.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Raymond James Financial reissued a "strong-buy" rating and set a $160.00 target price (up from $130.00) on shares of Toll Brothers in a research note on Monday, August 25th. Wells Fargo & Company boosted their target price on shares of Toll Brothers from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Finally, Bank of America boosted their target price on shares of Toll Brothers from $150.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $150.43.

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.

Want to see what other hedge funds are holding TOL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Toll Brothers Inc. (NYSE:TOL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.