Assetmark Inc. Trims Stock Holdings in Toll Brothers Inc. $TOL

Assetmark Inc. lessened its stake in Toll Brothers Inc. (NYSE:TOL) by 6.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 179,605 shares of the construction company’s stock after selling 11,495 shares during the quarter. Assetmark Inc. owned approximately 0.19% of Toll Brothers worth $29,590,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in Toll Brothers by 2,067.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,303,915 shares of the construction company’s stock valued at $446,756,000 after buying an additional 3,151,509 shares in the last quarter. Norges Bank acquired a new stake in Toll Brothers in the 4th quarter worth approximately $168,312,000. Ascentis Wealth Management LLC lifted its position in Toll Brothers by 16,397.7% during the 2nd quarter. Ascentis Wealth Management LLC now owns 539,641 shares of the construction company’s stock worth $88,906,000 after acquiring an additional 536,370 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Toll Brothers by 3,700.7% during the 1st quarter. Pacer Advisors Inc. now owns 430,356 shares of the construction company’s stock valued at $58,731,000 after purchasing an additional 419,033 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Toll Brothers by 52.0% in the fourth quarter. Jennison Associates LLC now owns 1,090,590 shares of the construction company’s stock valued at $147,470,000 after acquiring an additional 372,976 shares during the period. Institutional investors own 91.76% of the company’s stock.

Insider Transactions at Toll Brothers

In other news, COO Robert Parahus sold 7,500 shares of the business’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 completion of the sale, the chief operating officer owned 23,457 shares of the company’s stock, valued at approximately $3,510,574.62. The trade was a 24.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Douglas C. Jr. Yearley sold 77,957 shares of Toll Brothers stock in a transaction that occurred 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 owned 321,256 shares in the company, valued at approximately $50,302,264.48. This represents a 19.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.37% of the company’s stock.

Toll Brothers Stock Performance

NYSE:TOL opened at $148.09 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 capitalization of $13.84 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 1.23 and a beta of 1.35. Toll Brothers Inc. has a twelve month low of $123.14 and a twelve month high of $168.36. The stock’s 50-day simple moving average is $151.69 and its 200 day simple moving average is $146.40.

Toll Brothers (NYSE:TOL) last released its quarterly earnings results on Tuesday, May 19th. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.14. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.42 billion. Toll Brothers had a net margin of 11.66% and a return on equity of 15.47%. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.50 earnings per share. On average, analysts anticipate 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 paid a $0.26 dividend. The ex-dividend date was Friday, July 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. Toll Brothers’s payout ratio is presently 7.87%.

Wall Street Analysts Forecast Growth

TOL has been the topic of a number of research reports. Evercore restated an “outperform” rating and set a $185.00 price objective on shares of Toll Brothers in a research report on Thursday, May 21st. Barclays boosted their price target on Toll Brothers from $115.00 to $122.00 and gave the company an “underweight” rating in a research note on Tuesday, July 14th. UBS Group upgraded Toll Brothers from a “buy” rating to a “buy” rating in a research note on Tuesday, June 9th. Citigroup upgraded Toll Brothers from a “neutral” rating to a “buy” rating and increased their price target for the stock from $146.00 to $176.00 in a research report on Friday, July 10th. Finally, Benchmark assumed coverage on shares of Toll Brothers in a research note on Tuesday, June 9th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.88.

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.