Toll Brothers Inc. $TOL Stock Acquired by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its Toll Brothers stake by 9.3% in the second quarter to 118,527 shares valued at approximately $19.5 million. Institutional investors collectively own 91.76% of the homebuilder.
• Analysts maintain a “Moderate Buy” consensus on TOL, with 12 Buy, five Hold and one Sell rating and an average price target of $166.93.
• Toll Brothers reported quarterly EPS of $2.97, beating estimates, while revenue reached $2.66 billion but declined 9.7% year over year. The company also declared a quarterly dividend of $0.26 per share, representing a 0.8% yield.

Envestnet Asset Management Inc. boosted its holdings in Toll Brothers Inc. (NYSE:TOL - Free Report) by 9.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,527 shares of the construction company's stock after buying an additional 10,067 shares during the quarter. Envestnet Asset Management Inc. owned 0.13% of Toll Brothers worth $19,526,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Toll Brothers in the second quarter valued at about $1,610,696,000. State Street Corp increased its holdings in shares of Toll Brothers by 4.4% in the 2nd quarter. State Street Corp now owns 3,505,828 shares of the construction company's stock worth $577,585,000 after buying an additional 146,163 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Toll Brothers by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,990,447 shares of the construction company's stock worth $408,062,000 after acquiring an additional 100,718 shares during the last quarter. Jennison Associates LLC lifted its position in Toll Brothers by 30.1% in the first quarter. Jennison Associates LLC now owns 1,418,543 shares of the construction company's stock worth $193,589,000 after buying an additional 327,953 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Toll Brothers during the 4th quarter worth about $168,312,000. Institutional investors own 91.76% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TOL. Truist Financial increased their price target on Toll Brothers from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Benchmark started coverage on Toll Brothers in a report on Tuesday, June 9th. They issued a "buy" rating for the company. Oppenheimer lowered shares of Toll Brothers from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 9th. Argus set a $170.00 price target on shares of Toll Brothers in a research report on Tuesday, June 2nd. Finally, BTIG Research began coverage on shares of Toll Brothers in a report on Tuesday, June 9th. They set a "buy" rating on the stock. Twelve analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $166.93.

Insiders Place Their Bets

In other Toll Brothers news, Director Stephen East sold 800 shares of the stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $135.99, for a total transaction of $108,792.00. Following the sale, the director directly owned 12,642 shares in the company, valued at $1,719,185.58. This represents a 5.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.37% of the stock is currently owned by insiders.

Toll Brothers Stock Down 0.6%

TOL stock opened at $135.73 on Wednesday. Toll Brothers Inc. has a one year low of $123.14 and a one year high of $168.36. The firm's 50 day moving average price is $143.77 and its 200-day moving average price is $143.24. The firm has a market cap of $12.51 billion, a PE ratio of 10.89, a PEG ratio of 1.10 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.55 and a current ratio of 4.53.

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

Toll Brothers Announces Dividend

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

Toll Brothers Profile

Toll Brothers, Inc is a U.S. luxury homebuilder that designs, constructs, markets and sells single-family homes, townhomes and condominiums. The company serves move-up, luxury, active-adult and urban buyers, offering homes in a range of architectural styles and price points.

Founded in 1967 by brothers Robert I. Toll and Bruce E. Toll, the company develops residential communities on land it acquires and prepares for construction. Its operations also include related services such as mortgage financing, title and settlement services, and property development through its Toll Brothers Apartment Living and Toll Brothers City Living businesses.

Toll Brothers operates across numerous metropolitan and suburban markets in the United States, with a presence in regions including the Northeast, Mid-Atlantic, Southeast, Texas, the Midwest, Arizona and the West Coast.

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