Corient Private Wealth LP decreased its holdings in Toll Brothers Inc. (NYSE:TOL – Free Report) by 49.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,030 shares of the construction company’s stock after selling 61,461 shares during the quarter. Corient Private Wealth LP’s holdings in Toll Brothers were worth $10,384,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Hilton Head Capital Partners LLC grew its holdings in Toll Brothers by 65.5% in the first quarter. Hilton Head Capital Partners LLC now owns 187 shares of the construction company’s stock valued at $26,000 after purchasing an additional 74 shares during the period. Wiser Advisor Group LLC purchased a new stake in shares of Toll Brothers in the third quarter valued at approximately $27,000. Pinnacle Holdings LLC acquired a new position in shares of Toll Brothers during the 4th quarter worth approximately $27,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Toll Brothers during the 3rd quarter worth approximately $29,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Toll Brothers during the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 91.76% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the stock. Benchmark assumed coverage on shares of Toll Brothers in a research note on Tuesday, June 9th. They issued a “buy” rating on the stock. Argus set a $170.00 price objective on shares of Toll Brothers in a research report on Tuesday, June 2nd. Evercore restated an “outperform” rating and set a $191.00 price objective on shares of Toll Brothers in a research report on Thursday, August 20th. Barclays increased their price objective on shares of Toll Brothers from $115.00 to $122.00 and gave the company an “underweight” rating in a report on Tuesday, July 14th. Finally, Citigroup lifted their target price on shares of Toll Brothers from $176.00 to $179.00 and gave the company a “buy” rating in a research report on Friday, August 21st. Fifteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Toll Brothers presently has an average rating of “Moderate Buy” and an average price target of $167.27.
Toll Brothers Stock Performance
NYSE TOL opened at $146.33 on Friday. The company has a market cap of $13.68 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 1.20 and a beta of 1.35. The stock’s 50 day simple moving average is $151.46 and its 200-day simple moving average is $146.38. Toll Brothers Inc. has a 1-year low of $123.14 and a 1-year high of $168.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.53 and a quick ratio of 0.55.
Toll Brothers (NYSE:TOL – Get Free Report) last issued its quarterly earnings results on Tuesday, August 18th. The construction company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.93 by $0.04. Toll Brothers had a return on equity of 14.21% and a net margin of 11.14%.The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the company posted $3.73 earnings per share. The business’s revenue was down 9.7% on a year-over-year basis. As a group, equities research analysts anticipate that Toll Brothers Inc. will post 12.81 EPS for the current fiscal year.
Toll Brothers Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, July 10th. Toll Brothers’s payout ratio is 8.35%.
Insider Buying and Selling at Toll Brothers
In other news, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $156.58, for a total value of $12,206,507.06. Following the completion of the sale, the chairman directly owned 321,256 shares in the company, valued at $50,302,264.48. This represents a 19.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Robert Parahus sold 7,500 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was 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 in the company, valued at approximately $3,510,574.62. This represents a 24.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.37% of the company’s stock.
Toll Brothers 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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