Readystate Asset Management LP Takes $2.29 Million Position in Toll Brothers Inc. $TOL

Readystate Asset Management LP purchased a new position in shares of Toll Brothers Inc. (NYSE:TOL) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 16,767 shares of the construction company’s stock, valued at approximately $2,288,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Western Wealth Management LLC boosted its stake in Toll Brothers by 2.6% in the fourth quarter. Western Wealth Management LLC now owns 2,658 shares of the construction company’s stock valued at $359,000 after acquiring an additional 68 shares during the last quarter. Root Financial Partners LLC grew its holdings in Toll Brothers by 21.9% during the 4th quarter. Root Financial Partners LLC now owns 389 shares of the construction company’s stock worth $53,000 after acquiring an additional 70 shares during the period. Merit Financial Group LLC raised its position in shares of Toll Brothers by 0.4% during the 4th quarter. Merit Financial Group LLC now owns 20,568 shares of the construction company’s stock valued at $2,781,000 after acquiring an additional 72 shares during the last quarter. IFP Advisors Inc raised its position in shares of Toll Brothers by 2.4% during the 4th quarter. IFP Advisors Inc now owns 3,200 shares of the construction company’s stock valued at $433,000 after acquiring an additional 74 shares during the last quarter. Finally, Hilton Head Capital Partners LLC lifted its stake in shares of Toll Brothers by 65.5% in the 1st 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. 91.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Benchmark began coverage on Toll Brothers in a research report on Tuesday, June 9th. They issued a “buy” rating on the stock. Evercore reiterated an “outperform” rating and issued a $185.00 price objective on shares of Toll Brothers in a report on Thursday, May 21st. BTIG Research initiated coverage on Toll Brothers in a research note on Tuesday, June 9th. They issued a “buy” rating on the stock. Seaport Research Partners restated a “neutral” rating on shares of Toll Brothers in a report on Tuesday, April 7th. Finally, Barclays boosted their target price on Toll Brothers from $115.00 to $122.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Toll Brothers currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.88.

Toll Brothers Stock Performance

Shares of TOL opened at $155.01 on Wednesday. The firm has a market cap of $14.49 billion, a P/E ratio of 11.73, a PEG ratio of 1.25 and a beta of 1.34. Toll Brothers Inc. has a twelve month low of $117.50 and a twelve month high of $168.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 4.67. The firm’s 50 day moving average price is $148.25 and its two-hundred day moving average price is $145.95.

Toll Brothers (NYSE:TOL) last issued its quarterly earnings data on Tuesday, May 19th. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.14. Toll Brothers had a net margin of 11.66% and a return on equity of 15.47%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the firm earned $3.50 earnings per share. The firm’s revenue was down 7.6% compared to the same quarter last year. On average, analysts forecast that Toll Brothers Inc. will post 12.69 EPS for the current fiscal year.

Toll Brothers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, July 10th. Toll Brothers’s dividend payout ratio is 7.87%.

Insider Transactions at Toll Brothers

In other news, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $156.58, for a total value of $12,206,507.06. Following the sale, the chairman directly owned 321,256 shares in the company, valued at $50,302,264.48. The trade was a 19.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Robert Parahus sold 7,500 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $149.66, for a total value of $1,122,450.00. Following the transaction, the chief operating officer directly owned 23,457 shares of the company’s stock, valued at $3,510,574.62. This represents a 24.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.37% of the stock is currently owned by corporate insiders.

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.