State Street Corp Purchases 146,163 Shares of Toll Brothers Inc. $TOL

Key Points

• State Street increased its Toll Brothers stake by 4.4%, purchasing 146,163 shares and bringing its holdings to 3.51 million shares valued at approximately $577.6 million. Institutional investors collectively own 91.76% of the stock.
• Toll Brothers reported quarterly earnings of $2.97 per share, beating estimates of $2.93, while revenue reached $2.66 billion. However, revenue declined 9.7% year over year and earnings fell from $3.73 per share in the comparable quarter.
• The company declared a quarterly dividend of $0.26, equivalent to an annualized yield of 0.8%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $167.43, above the reported share price of $135.38.

State Street Corp increased its position in Toll Brothers Inc. (NYSE:TOL - Free Report) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,505,828 shares of the construction company's stock after buying an additional 146,163 shares during the quarter. State Street Corp owned 3.80% of Toll Brothers worth $577,585,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC boosted its stake in Toll Brothers by 21.9% during the fourth quarter. Root Financial Partners LLC now owns 389 shares of the construction company's stock worth $53,000 after acquiring an additional 70 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Toll Brothers by 2.4% in the 4th quarter. IFP Advisors Inc now owns 3,200 shares of the construction company's stock worth $433,000 after purchasing an additional 74 shares in the last quarter. Hilton Head Capital Partners LLC grew its stake in shares of Toll Brothers by 65.5% in the 1st quarter. Hilton Head Capital Partners LLC now owns 187 shares of the construction company's stock worth $26,000 after buying an additional 74 shares during the last quarter. Bessemer Group Inc. increased its position in Toll Brothers by 4.7% during the 1st quarter. Bessemer Group Inc. now owns 1,771 shares of the construction company's stock valued at $242,000 after buying an additional 80 shares in the last quarter. Finally, Allegiance Financial Group Advisory Services LLC raised its stake in Toll Brothers by 4.2% during the second quarter. Allegiance Financial Group Advisory Services LLC now owns 2,000 shares of the construction company's stock valued at $330,000 after buying an additional 80 shares during the last quarter. 91.76% of the stock is currently owned by institutional investors.

Toll Brothers Stock Down 1.6%

TOL stock opened at $135.38 on Thursday. The business's 50-day moving average price is $144.87 and its 200-day moving average price is $143.51. The company has a quick ratio of 0.55, a current ratio of 4.53 and a debt-to-equity ratio of 0.32. The stock has a market cap of $12.48 billion, a P/E ratio of 10.87, a PEG ratio of 1.11 and a beta of 1.34. Toll Brothers Inc. has a twelve month low of $123.14 and a twelve month high of $168.36.

Toll Brothers (NYSE:TOL - Get Free Report) last released its earnings results on Tuesday, August 18th. The construction company reported $2.97 earnings per share for the quarter, beating analysts' consensus estimates of $2.93 by $0.04. Toll Brothers had a net margin of 11.14% and a return on equity of 14.21%. The company had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same quarter in the previous year, the company earned $3.73 EPS. Toll Brothers's revenue for the quarter was down 9.7% on a year-over-year basis. On average, equities research analysts forecast that Toll Brothers Inc. will post 12.81 EPS for the current year.

Toll Brothers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 9th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. Toll Brothers's dividend payout ratio (DPR) is presently 8.35%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TOL. Citigroup raised their price target on Toll Brothers from $176.00 to $179.00 and gave the company a "buy" rating in a report on Friday, August 21st. Argus set a $170.00 price target on Toll Brothers in a report on Tuesday, June 2nd. Barclays lifted their price objective on Toll Brothers from $115.00 to $122.00 and gave the stock an "underweight" rating in a report on Tuesday, July 14th. Keefe, Bruyette & Woods upped their target price on shares of Toll Brothers from $161.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, August 28th. Finally, Truist Financial lifted their target price on shares of Toll Brothers from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Twelve equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $167.43.

Toll Brothers Company Profile

Toll Brothers, Inc is a luxury homebuilding company that designs, constructs, markets and sells residential properties in the United States. The company develops communities featuring single-family detached homes, townhomes and condominiums, as well as active-adult communities and urban high-rise residences. Its offerings generally target move-up, luxury and resort-style homebuyers, with homes available in a range of designs, locations and customization options.

Through related operations, Toll Brothers also provides mortgage financing, title and settlement services, homeowners insurance and other services that support the home purchase process.

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