Norges Bank Takes $168.31 Million Position in Toll Brothers Inc. $TOL

Norges Bank bought a new position in shares of Toll Brothers Inc. (NYSE:TOL) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 1,244,726 shares of the construction company’s stock, valued at approximately $168,312,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TOL. Wiser Advisor Group LLC purchased a new position in shares of Toll Brothers in the 3rd quarter worth about $27,000. Abich Financial Wealth Management LLC purchased a new position in shares of Toll Brothers in the 3rd quarter worth about $28,000. Ramirez Asset Management Inc. purchased a new position in shares of Toll Brothers in the 3rd quarter worth about $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Toll Brothers in the 3rd quarter worth about $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Toll Brothers in the 4th quarter worth about $34,000. 91.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Stephen F. East sold 1,000 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $139.70, for a total value of $139,700.00. Following the sale, the director directly owned 13,442 shares of the company’s stock, valued at approximately $1,877,847.40. This represents a 6.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TOL shares. Citigroup reissued a “neutral” rating on shares of Toll Brothers in a report on Thursday, May 21st. Oppenheimer reissued an “outperform” rating and issued a $180.00 price target (up from $177.00) on shares of Toll Brothers in a report on Thursday, February 19th. Keefe, Bruyette & Woods boosted their price target on shares of Toll Brothers from $143.00 to $170.00 and gave the stock a “market perform” rating in a report on Wednesday, February 25th. Truist Financial cut their price target on shares of Toll Brothers from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Finally, Argus set a $170.00 price target on shares of Toll Brothers in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $164.13.

Toll Brothers Trading Down 1.3%

Shares of Toll Brothers stock opened at $137.67 on Thursday. Toll Brothers Inc. has a 12-month low of $104.09 and a 12-month high of $168.36. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.15 and a beta of 1.36. The company has a current ratio of 4.67, a quick ratio of 0.59 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $137.99 and its 200-day moving average price is $141.88.

Toll Brothers (NYSE:TOL) last announced its quarterly 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 net margin of 11.66% and a return on equity of 15.47%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the firm posted $3.50 earnings per share. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, equities analysts expect that Toll Brothers Inc. will post 12.7 earnings per share for the current fiscal year.

Toll Brothers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 10th were issued a $0.26 dividend. The ex-dividend date of this dividend was Friday, April 10th. This is a positive change from Toll Brothers’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. Toll Brothers’s payout ratio is currently 7.87%.

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.