iA Global Asset Management Inc. Invests $44.70 Million in Toll Brothers Inc. $TOL

iA Global Asset Management Inc. bought a new stake in Toll Brothers Inc. (NYSE:TOL) in the 2nd quarter, Holdings Channel.com reports. The fund bought 271,298 shares of the construction company’s stock, valued at approximately $44,696,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Swiss Life Asset Management Ltd boosted its stake in Toll Brothers by 37.6% in the 2nd quarter. Swiss Life Asset Management Ltd now owns 8,155 shares of the construction company’s stock worth $1,344,000 after buying an additional 2,229 shares during the last quarter. MRWM Advisors LLC acquired a new position in shares of Toll Brothers during the 2nd quarter valued at about $579,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Toll Brothers by 120.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,525 shares of the construction company’s stock valued at $581,000 after acquiring an additional 1,925 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Toll Brothers by 0.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,573 shares of the construction company’s stock worth $3,225,000 after acquiring an additional 149 shares during the period. Finally, Axxcess Wealth Management LLC purchased a new position in shares of Toll Brothers during the 2nd quarter worth about $248,000. 91.76% of the stock is owned by institutional investors and hedge funds.

Toll Brothers Stock Performance

NYSE TOL opened at $149.09 on Friday. The firm has a market capitalization of $13.94 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.23 and a beta of 1.35. 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 0.33, a current ratio of 4.67 and a quick ratio of 0.59. The business’s 50-day simple moving average is $151.48 and its 200-day simple moving average is $146.38.

Toll Brothers (NYSE:TOL) last posted its 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 during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the company earned $3.50 EPS. The company’s revenue was down 7.6% on a year-over-year basis. Equities analysts predict that Toll Brothers Inc. will post 12.69 EPS for the current year.

Toll Brothers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, July 10th. Toll Brothers’s dividend payout ratio (DPR) is currently 7.87%.

Insider Buying and Selling at Toll Brothers

In related news, 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 value of $12,206,507.06. Following the completion of the sale, the chairman directly owned 321,256 shares in the company, valued at approximately $50,302,264.48. This represents a 19.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert Parahus sold 7,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TOL shares. UBS Group upgraded shares of Toll Brothers from a “buy” rating to a “buy” rating in a report on Tuesday, June 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $158.00 price target on shares of Toll Brothers in a research note on Thursday, June 11th. Piper Sandler lowered shares of Toll Brothers from an “overweight” rating to a “neutral” rating in a report on Tuesday, June 9th. Citigroup raised shares of Toll Brothers from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $146.00 to $176.00 in a research note on Friday, July 10th. Finally, Evercore reissued an “outperform” rating and set a $185.00 price objective on shares of Toll Brothers in a research note on Thursday, May 21st. 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.88.

Toll Brothers Company 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.