Jennison Associates LLC Grows Position in Toll Brothers Inc. $TOL

Key Points

• Jennison Associates LLC increased its stake in Toll Brothers by 52% in Q4 to 1,090,590 shares (about 1.15% ownership), worth roughly $147.47 million, while institutions own about 91.76% of the stock.
• Analysts hold a consensus "Moderate Buy" on Toll Brothers with an average price target of $164.44, and several firms recently raised targets or upgraded the stock (examples: Oppenheimer $180, RBC $161).
• Toll Brothers beat quarterly estimates with $2.19 EPS vs. $2.05 expected and $2.15B revenue (up 15.4% YoY), and raised its quarterly dividend to $0.26 ($1.04 annual; 0.7% yield).

Jennison Associates LLC raised its position in Toll Brothers Inc. (NYSE:TOL - Free Report) by 52.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,090,590 shares of the construction company's stock after purchasing an additional 372,976 shares during the quarter. Jennison Associates LLC owned 1.15% of Toll Brothers worth $147,470,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wiser Advisor Group LLC purchased a new position in shares of Toll Brothers in the 3rd quarter worth about $27,000. Ramirez Asset Management Inc. purchased a new position in shares of Toll Brothers in the 3rd quarter worth about $28,000. Abich Financial Wealth Management LLC purchased a new position in shares of Toll Brothers in the 3rd quarter worth about $28,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Toll Brothers during the 3rd quarter valued at about $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Toll Brothers during the 4th quarter valued at about $34,000. 91.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on TOL shares. Seaport Research Partners reiterated a "neutral" rating on shares of Toll Brothers in a report on Tuesday, April 7th. Oppenheimer reiterated an "outperform" rating and set a $180.00 target price (up from $177.00) on shares of Toll Brothers in a report on Thursday, February 19th. Weiss Ratings upgraded Toll Brothers from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, February 10th. Royal Bank Of Canada raised their target price on Toll Brothers from $144.00 to $161.00 and gave the company an "outperform" rating in a report on Thursday, February 19th. Finally, Citizens Jmp reiterated a "market outperform" rating and set a $175.00 target price on shares of Toll Brothers in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $164.44.

Toll Brothers Price Performance

Shares of NYSE TOL opened at $140.46 on Thursday. Toll Brothers Inc. has a fifty-two week low of $99.12 and a fifty-two week high of $168.36. The business has a 50 day moving average price of $143.85 and a two-hundred day moving average price of $141.71. The company has a quick ratio of 0.62, a current ratio of 4.57 and a debt-to-equity ratio of 0.32. The firm has a market cap of $13.30 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 1.15 and a beta of 1.49.

Toll Brothers (NYSE:TOL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The construction company reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates of $2.05 by $0.14. Toll Brothers had a return on equity of 16.83% and a net margin of 12.26%.The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm earned $1.75 EPS. Toll Brothers's quarterly revenue was up 15.4% on a year-over-year basis. Sell-side analysts expect that Toll Brothers Inc. will post 12.67 earnings per share for the current fiscal year.

Toll Brothers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Friday, April 10th were paid a dividend of $0.26 per share. This is a boost from Toll Brothers's previous quarterly dividend of $0.25. The ex-dividend date was Friday, April 10th. This represents a $1.04 dividend on an annualized basis and a yield of 0.7%. Toll Brothers's payout ratio is 7.43%.

Insider Buying and Selling

In other news, CEO Douglas C. Jr. Yearley sold 45,116 shares of Toll Brothers stock in a transaction that occurred on 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 owned 321,256 shares in the company, valued at approximately $51,535,887.52. This trade represents a 12.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen F. East sold 1,000 shares of Toll Brothers stock in a transaction that occurred on 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 approximately $1,877,847.40. The trade was a 6.92% decrease in their position. The SEC filing for this sale provides additional information. 1.37% of the stock is owned by company insiders.

Toll Brothers Company 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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