Toll Brothers Inc. $TOL Shares Sold by Retirement Systems of Alabama

Key Points

• Retirement Systems of Alabama reduced its Toll Brothers stake by 8.4% in the second quarter, selling 18,205 shares and retaining 197,275 shares worth approximately $32.5 million. Institutional investors and hedge funds collectively own 91.76% of the company.
• Toll Brothers insiders also sold shares: Chairman Douglas C. Yearley sold approximately $12.2 million worth, while COO Robert Parahus sold about $1.1 million. Insiders now own 1.37% of the stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $164.88, compared with the stock’s cited opening price of $149.09.

Retirement Systems of Alabama lessened its holdings in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 8.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 197,275 shares of the construction company's stock after selling 18,205 shares during the period. Retirement Systems of Alabama owned 0.21% of Toll Brothers worth $32,501,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sivia Capital Partners LLC bought a new position in Toll Brothers in the 2nd quarter worth approximately $705,000. Brown Advisory Inc. raised its stake in Toll Brothers by 4.6% during the 2nd quarter. Brown Advisory Inc. now owns 4,212 shares of the construction company's stock valued at $481,000 after acquiring an additional 186 shares in the last quarter. NewEdge Advisors LLC raised its stake in Toll Brothers by 5.8% during the 2nd quarter. NewEdge Advisors LLC now owns 6,203 shares of the construction company's stock valued at $708,000 after acquiring an additional 340 shares in the last quarter. Sei Investments Co. boosted its position in Toll Brothers by 164.9% during the 2nd quarter. Sei Investments Co. now owns 38,556 shares of the construction company's stock worth $4,400,000 after acquiring an additional 24,001 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in Toll Brothers by 1.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 46,208 shares of the construction company's stock worth $5,274,000 after acquiring an additional 700 shares during the period. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Toll Brothers

In related news, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the stock in a transaction that occurred 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 completion of the sale, the chairman directly owned 321,256 shares of the company's stock, valued at $50,302,264.48. This represents a 19.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert Parahus sold 7,500 shares of the 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 sale, the chief operating officer directly owned 23,457 shares of the company's stock, valued at approximately $3,510,574.62. This represents a 24.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TOL. BTIG Research began coverage on shares of Toll Brothers in a research note on Tuesday, June 9th. They set a "buy" rating on the stock. Argus set a $170.00 target price on shares of Toll Brothers in a research report on Tuesday, June 2nd. Weiss Ratings raised shares of Toll Brothers from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 17th. Barclays boosted their price target on shares of Toll Brothers from $115.00 to $122.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 14th. Finally, Truist Financial reduced their price target on shares of Toll Brothers from $170.00 to $165.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.88.

Toll Brothers Trading Up 0.4%

Shares of Toll Brothers stock opened at $149.09 on Friday. The company has a quick ratio of 0.59, a current ratio of 4.67 and a debt-to-equity ratio of 0.33. The firm has a market cap of $13.94 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 1.23 and a beta of 1.35. The business has a fifty day simple moving average of $151.48 and a 200-day simple moving average of $146.38. Toll Brothers Inc. has a fifty-two week low of $123.14 and a fifty-two week high of $168.36.

Toll Brothers (NYSE:TOL - Get Free Report) last released its earnings results on Tuesday, May 19th. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $2.42 billion. During the same period in the previous year, the company earned $3.50 earnings per share. Toll Brothers's revenue was down 7.6% compared to the same quarter last year. On average, equities analysts forecast 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 was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were given a dividend of $0.26 per share. The ex-dividend date was Friday, July 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. Toll Brothers's dividend payout ratio (DPR) is 7.87%.

About Toll Brothers

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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