Janney Montgomery Scott LLC lowered its stake in Toll Brothers Inc. (NYSE:TOL - Free Report) by 15.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,797 shares of the construction company's stock after selling 10,426 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of Toll Brothers worth $8,024,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in TOL. Caldwell Trust Co lifted its position in Toll Brothers by 10.7% in the 1st quarter. Caldwell Trust Co now owns 13,980 shares of the construction company's stock valued at $1,908,000 after acquiring an additional 1,350 shares in the last quarter. Aaron Wealth Advisors LLC increased its holdings in Toll Brothers by 6.1% during the 1st quarter. Aaron Wealth Advisors LLC now owns 4,553 shares of the construction company's stock worth $621,000 after purchasing an additional 263 shares in the last quarter. OLD National Bancorp IN increased its holdings in Toll Brothers by 8.3% during the 1st quarter. OLD National Bancorp IN now owns 27,130 shares of the construction company's stock worth $3,702,000 after purchasing an additional 2,076 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Toll Brothers during the 1st quarter worth about $3,753,000. Finally, Ritholtz Wealth Management raised its stake in shares of Toll Brothers by 128.7% in the 1st quarter. Ritholtz Wealth Management now owns 32,217 shares of the construction company's stock valued at $4,397,000 after purchasing an additional 18,128 shares during the period. Institutional investors and hedge funds own 91.76% of the company's stock.
Insider Activity
In other Toll Brothers news, COO Robert Parahus sold 7,500 shares of the company's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $149.66, for a total transaction of $1,122,450.00. Following the sale, the chief operating officer directly owned 23,457 shares of the company's stock, valued at approximately $3,510,574.62. This represents a 24.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $156.58, for a total transaction of $12,206,507.06. Following the completion of the sale, the chairman owned 321,256 shares of the company's stock, valued at approximately $50,302,264.48. This represents a 19.53% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 86,457 shares of company stock valued at $13,468,657. 1.37% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on TOL. Evercore restated an "outperform" rating and issued a $185.00 price target on shares of Toll Brothers in a report on Thursday, May 21st. Piper Sandler lowered Toll Brothers from an "overweight" rating to a "neutral" rating in a research report on Tuesday, June 9th. Seaport Research Partners restated a "neutral" rating on shares of Toll Brothers in a research note on Tuesday, April 7th. Truist Financial reduced their price target on Toll Brothers from $170.00 to $165.00 and set a "buy" rating for the company in a research report on Thursday, May 21st. Finally, UBS Group raised shares of Toll Brothers from a "buy" rating to a "buy" rating in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $163.56.
Check Out Our Latest Stock Analysis on TOL
Toll Brothers Price Performance
Shares of NYSE TOL opened at $157.26 on Friday. The stock has a market capitalization of $14.70 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.30 and a beta of 1.34. The business has a 50-day moving average of $143.81 and a 200-day moving average of $144.40. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.67 and a quick ratio of 0.59. Toll Brothers Inc. has a fifty-two week low of $113.52 and a fifty-two week high of $168.36.
Toll Brothers (NYSE:TOL - Get Free Report) last released its earnings results on Tuesday, May 19th. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.14. Toll Brothers had a return on equity of 15.47% and a net margin of 11.66%.The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the prior year, the company posted $3.50 earnings per share. Toll Brothers's revenue was down 7.6% on a year-over-year basis. As a group, sell-side analysts predict that Toll Brothers Inc. will post 12.69 earnings per share for the current fiscal year.
Toll Brothers Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 10th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, July 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.7%. Toll Brothers's dividend payout ratio is currently 7.87%.
Toll Brothers 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.
See Also
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