Strategic Wealth Partners Ltd. Sells 93,386 Shares of Toll Brothers Inc. $TOL

Key Points

• Strategic Wealth Partners slashed its Toll Brothers position by 99.3% in the second quarter, selling 93,386 shares and retaining just 666 shares worth approximately $110,000. Institutional investors collectively own 91.76% of the company.
• Analysts remain broadly positive, with Toll Brothers receiving a “Moderate Buy” consensus rating and an average price target of $166.25. Recent targets range from $158 to $195.
• Toll Brothers exceeded quarterly earnings and revenue expectations, reporting $2.97 in EPS and $2.66 billion in revenue, though revenue declined 9.7% year over year and EPS fell from $3.73 in the prior-year quarter.

Strategic Wealth Partners Ltd. trimmed its holdings in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 99.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 666 shares of the construction company's stock after selling 93,386 shares during the quarter. Strategic Wealth Partners Ltd.'s holdings in Toll Brothers were worth $110,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Emerald Investment Advisers LLC boosted its position in Toll Brothers by 7.7% in the second quarter. Emerald Investment Advisers LLC now owns 29,270 shares of the construction company's stock worth $4,822,000 after purchasing an additional 2,104 shares during the last quarter. Rakuten Securities Inc. grew its stake in Toll Brothers by 6,073.1% in the 2nd quarter. Rakuten Securities Inc. now owns 6,667 shares of the construction company's stock valued at $1,098,000 after purchasing an additional 6,559 shares during the period. Callan Family Office LLC increased its position in shares of Toll Brothers by 4.1% during the 2nd quarter. Callan Family Office LLC now owns 8,685 shares of the construction company's stock valued at $1,431,000 after purchasing an additional 345 shares during the last quarter. Greenspring Advisors LLC purchased a new stake in shares of Toll Brothers during the 2nd quarter valued at $414,000. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Toll Brothers during the 2nd quarter worth $37,012,000. 91.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TOL has been the topic of a number of research analyst reports. Evercore reissued an "outperform" rating and issued a $191.00 price target on shares of Toll Brothers in a report on Thursday. Argus set a $170.00 price objective on shares of Toll Brothers in a report on Tuesday, June 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $158.00 price objective on shares of Toll Brothers in a research report on Thursday, June 11th. UBS Group boosted their target price on shares of Toll Brothers from $187.00 to $195.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Citigroup increased their target price on shares of Toll Brothers from $176.00 to $179.00 and gave the company a "buy" rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $166.25.

Insider Buying and Selling

In other Toll Brothers news, COO Robert Parahus sold 7,500 shares of the firm's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $149.66, for a total value of $1,122,450.00. Following the completion of the transaction, the chief operating officer directly owned 23,457 shares of the company's stock, valued at $3,510,574.62. This trade represents a 24.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $12,206,507.06. Following the transaction, the chairman owned 321,256 shares of the company's stock, valued at $50,302,264.48. This trade represents a 19.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.37% of the company's stock.

Toll Brothers Stock Performance

Shares of TOL opened at $147.03 on Friday. Toll Brothers Inc. has a 52-week low of $123.14 and a 52-week high of $168.36. The stock's 50-day simple moving average is $151.97 and its 200 day simple moving average is $146.43. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.59 and a current ratio of 4.53. The stock has a market capitalization of $13.74 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.20 and a beta of 1.35.

Toll Brothers (NYSE:TOL - Get Free Report) last posted 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 return on equity of 14.21% and a net margin of 11.14%.The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the firm earned $3.73 EPS. The company's quarterly revenue was down 9.7% compared to the same quarter last year. Research analysts forecast that Toll Brothers Inc. will post 12.81 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, July 10th. Toll Brothers's dividend payout ratio is 8.35%.

Toll Brothers 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source