Investment House LLC decreased its position in Toll Brothers Inc. (NYSE:TOL – Free Report) by 45.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,708 shares of the construction company’s stock after selling 8,873 shares during the quarter. Investment House LLC’s holdings in Toll Brothers were worth $1,443,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in TOL. BlackRock Inc. bought a new position in shares of Toll Brothers during the second quarter valued at about $1,610,696,000. Bamco Inc. NY bought a new stake in Toll Brothers in the 2nd quarter worth about $166,250,000. Bank of New York Mellon Corp bought a new stake in Toll Brothers in the 2nd quarter worth about $164,804,000. Bank of America Corp DE purchased a new stake in Toll Brothers in the 2nd quarter valued at about $125,912,000. Finally, Jupiter Topco LLC purchased a new stake in Toll Brothers in the 2nd quarter valued at about $88,646,000. Hedge funds and other institutional investors own 91.76% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on TOL. Barclays dropped their target price on shares of Toll Brothers from $122.00 to $118.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 6th. UBS Group lifted their price target on Toll Brothers from $187.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Royal Bank Of Canada cut their price objective on Toll Brothers from $158.00 to $148.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Truist Financial upped their price objective on Toll Brothers from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Melius Research initiated coverage on Toll Brothers in a research report on Tuesday, October 6th. They set a “buy” rating and a $179.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $166.67.
Check Out Our Latest Stock Report on Toll Brothers
Toll Brothers Price Performance
Toll Brothers stock opened at $140.82 on Friday. Toll Brothers Inc. has a 12 month low of $123.14 and a 12 month high of $168.36. The company has a current ratio of 4.53, a quick ratio of 0.55 and a debt-to-equity ratio of 0.32. The business’s 50 day simple moving average is $138.28 and its 200 day simple moving average is $143.06. The company has a market cap of $12.98 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 1.09 and a beta of 1.31.
Toll Brothers (NYSE:TOL – Get Free Report) last announced its quarterly earnings data on Tuesday, August 18th. The construction company reported $2.97 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $3.73 earnings per share. Toll Brothers’s revenue was down 9.7% compared to the same quarter last year. Sell-side analysts forecast that Toll Brothers Inc. will post 12.80 EPS for the current year.
Toll Brothers Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 9th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, October 9th. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. Toll Brothers’s dividend payout ratio is presently 8.35%.
Insiders Place Their Bets
In related news, Director Stephen East sold 800 shares of Toll Brothers stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $135.99, for a total value of $108,792.00. Following the completion of the sale, the director owned 12,642 shares of the company’s stock, valued at approximately $1,719,185.58. This trade represents a 5.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.37% of the company’s stock.
About Toll Brothers
Toll Brothers, Inc is a luxury homebuilding company that designs, builds, markets and sells residential properties in the United States. Its portfolio includes single-family detached homes, townhomes, condominiums and luxury residences, along with active-adult communities and urban high-rise developments in select markets.
The company also provides related services through businesses involved in mortgage lending, title insurance and settlement services. Toll Brothers serves a range of buyers, including first-time, move-up, luxury and active-adult home purchasers, and offers customization options through its design studios and other customer-service operations.
Founded in 1967 by Robert I.
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