Toll Brothers Inc. $TOL Shares Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp boosted its Toll Brothers stake by 2,672.4% in the first quarter, ending with 28,362 shares valued at about $3.87 million.
• Several analysts updated their views on Toll Brothers, with ratings ranging from bullish to cautious; the stock currently carries a Moderate Buy consensus and an average price target of $164.88.
• Toll Brothers reported better-than-expected quarterly earnings of $2.72 per share and revenue of $2.53 billion, and it also announced a quarterly dividend of $0.26 per share payable July 24.

Fifth Third Bancorp increased its stake in Toll Brothers Inc. (NYSE:TOL - Free Report) by 2,672.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,362 shares of the construction company's stock after acquiring an additional 27,339 shares during the period. Fifth Third Bancorp's holdings in Toll Brothers were worth $3,871,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TOL. Allspring Global Investments Holdings LLC increased its position in shares of Toll Brothers by 25.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 108,379 shares of the construction company's stock valued at $14,694,000 after purchasing an additional 21,907 shares during the last quarter. Annex Advisory Services LLC lifted its position in shares of Toll Brothers by 30.8% during the 4th quarter. Annex Advisory Services LLC now owns 44,251 shares of the construction company's stock worth $5,984,000 after purchasing an additional 10,420 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Toll Brothers by 182.9% during the 4th quarter. SG Americas Securities LLC now owns 190,498 shares of the construction company's stock worth $25,759,000 after purchasing an additional 123,150 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Toll Brothers by 52.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 45,149 shares of the construction company's stock worth $6,105,000 after purchasing an additional 15,526 shares in the last quarter. Finally, Greenhaven Associates Inc. grew its stake in shares of Toll Brothers by 0.4% during the fourth quarter. Greenhaven Associates Inc. now owns 5,603,187 shares of the construction company's stock worth $757,663,000 after purchasing an additional 22,218 shares in the last quarter. 91.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Toll Brothers

In other news, COO Robert Parahus sold 7,500 shares of Toll Brothers stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly owned 23,457 shares in the company, valued at approximately $3,510,574.62. This trade represents a 24.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the business's stock in a transaction on Thursday, June 18th. The stock was 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 in the company, valued at approximately $50,302,264.48. The trade was a 19.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

TOL has been the subject of a number of recent analyst reports. Argus set a $170.00 price target on Toll Brothers in a report on Tuesday, June 2nd. Oppenheimer downgraded Toll Brothers from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 9th. Benchmark assumed coverage on Toll Brothers in a research report on Tuesday, June 9th. They set a "buy" rating on the stock. Barclays boosted their target price on Toll Brothers from $115.00 to $122.00 and gave the stock an "underweight" rating in a research note on Tuesday. Finally, Weiss Ratings upgraded shares of Toll Brothers from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $164.88.

Toll Brothers Stock Performance

Shares of Toll Brothers stock opened at $150.58 on Friday. The firm's fifty day simple moving average is $145.56 and its 200-day simple moving average is $145.22. Toll Brothers Inc. has a 12 month low of $115.50 and a 12 month high of $168.36. The stock has a market capitalization of $14.07 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.25 and a beta of 1.34. 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 (NYSE:TOL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 19th. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.42 billion. During the same quarter in the previous year, the firm posted $3.50 EPS. The firm's revenue for the quarter was down 7.6% on a year-over-year basis. As a group, equities analysts forecast that Toll Brothers Inc. will post 12.69 earnings per share for the current year.

Toll Brothers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, July 10th. Toll Brothers's payout ratio is presently 7.87%.

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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