Pictet Asset Management Holding SA Sells 48,201 Shares of Toll Brothers Inc. $TOL

Key Points

• Pictet Asset Management reduced its Toll Brothers stake by 17.5% in the first quarter, selling 48,201 shares and ending with 226,760 shares valued at about $30.9 million.
• Toll Brothers reported better-than-expected quarterly results, posting $2.72 EPS versus the $2.58 consensus and revenue of $2.53 billion, though revenue still declined 7.6% year over year.
• The company declared a quarterly dividend of $0.26 per share, while analysts currently maintain a consensus rating of Moderate Buy with a target price of $163.56.

Pictet Asset Management Holding SA decreased its position in Toll Brothers Inc. (NYSE:TOL - Free Report) by 17.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 226,760 shares of the construction company's stock after selling 48,201 shares during the period. Pictet Asset Management Holding SA owned approximately 0.24% of Toll Brothers worth $30,946,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TOL. Hilton Head Capital Partners LLC grew its stake in Toll Brothers by 65.5% in the first quarter. Hilton Head Capital Partners LLC now owns 187 shares of the construction company's stock valued at $26,000 after acquiring an additional 74 shares during the period. Wiser Advisor Group LLC acquired a new stake in shares of Toll Brothers during the third quarter worth about $27,000. Pinnacle Holdings LLC acquired a new stake in shares of Toll Brothers during the fourth quarter worth about $27,000. Ramirez Asset Management Inc. bought a new position in shares of Toll Brothers during the 3rd quarter valued at about $28,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Toll Brothers during the 3rd quarter valued at about $29,000. Institutional investors own 91.76% of the company's stock.

Toll Brothers Stock Up 0.0%

NYSE:TOL opened at $164.95 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 4.67. The company has a market cap of $15.42 billion, a PE ratio of 12.48, a PEG ratio of 1.36 and a beta of 1.36. Toll Brothers Inc. has a 52-week low of $113.52 and a 52-week high of $168.36. The stock has a 50-day simple moving average of $143.24 and a 200 day simple moving average of $144.06.

Toll Brothers (NYSE:TOL - Get Free Report) last released its earnings results on Tuesday, May 19th. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.58 by $0.14. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.42 billion. Toll Brothers had a return on equity of 15.47% and a net margin of 11.66%.The business's quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.50 EPS. On average, sell-side analysts expect that Toll Brothers Inc. will post 12.69 EPS for the current fiscal year.

Toll Brothers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 10th will be issued a $0.26 dividend. The ex-dividend date is Friday, July 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.6%. Toll Brothers's dividend payout ratio (DPR) is 7.87%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TOL. UBS Group raised Toll Brothers from a "buy" rating to a "buy" rating in a research note on Tuesday, June 9th. Truist Financial cut their price target on shares of Toll Brothers from $170.00 to $165.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. Weiss Ratings cut shares of Toll Brothers from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, May 22nd. Evercore reissued an "outperform" rating and set a $185.00 price objective on shares of Toll Brothers in a research report on Thursday, May 21st. Finally, Oppenheimer lowered shares of Toll Brothers from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Toll Brothers currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.56.

Insider Activity

In other news, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the business's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $156.58, for a total value of $12,206,507.06. Following the sale, the chairman owned 321,256 shares of the company's stock, valued at $50,302,264.48. The trade was a 19.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Robert Parahus sold 7,500 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $149.66, for a total transaction of $1,122,450.00. Following the transaction, the chief operating officer owned 23,457 shares of the company's stock, valued at $3,510,574.62. The trade was a 24.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 86,457 shares of company stock worth $13,468,657 over the last ninety days. Insiders own 1.37% of the company's stock.

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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