Bank of America Corp DE Sells 7,676 Shares of Toll Brothers Inc. $TOL

Bank of America Corp DE decreased its stake in Toll Brothers Inc. (NYSE:TOL) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 751,404 shares of the construction company’s stock after selling 7,676 shares during the period. Bank of America Corp DE’s holdings in Toll Brothers were worth $102,544,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hilton Head Capital Partners LLC grew its position in Toll Brothers by 65.5% in the 1st quarter. Hilton Head Capital Partners LLC now owns 187 shares of the construction company’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Wiser Advisor Group LLC acquired a new position in shares of Toll Brothers during the third quarter valued at about $27,000. Pinnacle Holdings LLC bought a new stake in shares of Toll Brothers in the fourth quarter valued at about $27,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Toll Brothers in the third quarter valued at about $29,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in Toll Brothers during the third quarter worth about $37,000. Institutional investors own 91.76% of the company’s stock.

Insider Transactions at Toll Brothers

In related news, COO Robert Parahus sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $149.66, for a total value of $1,122,450.00. Following the sale, the chief operating officer directly owned 23,457 shares in the company, valued at $3,510,574.62. This trade represents a 24.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $156.58, for a total transaction of $12,206,507.06. Following the completion of 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 disclosure for this sale is available in the SEC filing. 1.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TOL shares. Evercore reaffirmed an “outperform” rating and issued a $185.00 price target on shares of Toll Brothers in a report on Thursday, May 21st. Citigroup raised Toll Brothers from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $146.00 to $176.00 in a report on Friday, July 10th. BTIG Research assumed coverage on Toll Brothers in a research report on Tuesday, June 9th. They set a “buy” rating on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $158.00 target price on shares of Toll Brothers in a research note on Thursday, June 11th. Finally, Truist Financial reduced their target price on Toll Brothers from $170.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Toll Brothers has a consensus rating of “Moderate Buy” and a consensus target price of $164.88.

Toll Brothers Stock Up 2.4%

Shares of NYSE:TOL opened at $154.95 on Friday. The company has a quick ratio of 0.59, a current ratio of 4.67 and a debt-to-equity ratio of 0.33. The firm has a market cap of $14.48 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.25 and a beta of 1.35. Toll Brothers Inc. has a 12 month low of $122.13 and a 12 month high of $168.36. The company’s 50-day moving average price is $150.60 and its two-hundred day moving average price is $146.28.

Toll Brothers (NYSE:TOL) last posted 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. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.42 billion. Toll Brothers had a return on equity of 15.47% and a net margin of 11.66%.The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.50 EPS. As a group, research analysts forecast that Toll Brothers Inc. will post 12.69 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

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

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.