Rakuten Securities Inc. raised its position in shares of Toll Brothers Inc. (NYSE:TOL – Free Report) by 6,073.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,667 shares of the construction company’s stock after purchasing an additional 6,559 shares during the period. Rakuten Securities Inc.’s holdings in Toll Brothers were worth $1,098,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. BlackRock Inc. bought a new position in shares of Toll Brothers during the 2nd quarter worth approximately $1,610,696,000. Price T Rowe Associates Inc. MD increased its stake in Toll Brothers by 2,067.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,303,915 shares of the construction company’s stock valued at $446,756,000 after purchasing an additional 3,151,509 shares in the last quarter. Norges Bank purchased a new position in shares of Toll Brothers in the fourth quarter worth $168,312,000. Bank of New York Mellon Corp purchased a new position in shares of Toll Brothers in the second quarter worth $164,804,000. Finally, Ascentis Wealth Management LLC grew its holdings in shares of Toll Brothers by 16,397.7% during the second quarter. Ascentis Wealth Management LLC now owns 539,641 shares of the construction company’s stock valued at $88,906,000 after buying an additional 536,370 shares during the last quarter. Institutional investors own 91.76% of the company’s stock.
Insider Buying and Selling at Toll Brothers
In related news, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the firm’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 sale, the chairman owned 321,256 shares in the company, valued at approximately $50,302,264.48. This trade represents a 19.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert Parahus sold 7,500 shares of Toll Brothers stock in a transaction 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 transaction, the chief operating officer directly owned 23,457 shares of the company’s stock, valued at $3,510,574.62. The trade was a 24.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.37% of the company’s stock.
Toll Brothers Stock Up 1.3%
Toll Brothers (NYSE:TOL – Get Free Report) last released its quarterly earnings data on Tuesday, August 18th. The construction company reported $2.97 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the firm posted $3.73 EPS. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. As a group, sell-side analysts expect that Toll Brothers Inc. will post 12.82 EPS for the current 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 paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, July 10th. Toll Brothers’s payout ratio is currently 8.35%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. Benchmark started coverage on Toll Brothers in a research report on Tuesday, June 9th. They set a “buy” rating for the company. BTIG Research began coverage on Toll Brothers in a report on Tuesday, June 9th. They set a “buy” rating for the company. Piper Sandler lowered Toll Brothers from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 9th. Weiss Ratings upgraded shares of Toll Brothers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Finally, Evercore reaffirmed an “outperform” rating and issued a $191.00 price objective on shares of Toll Brothers in a report on Thursday. One investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $166.25.
Get Our Latest Stock Report on Toll Brothers
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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