Kingsview Wealth Management LLC Invests $1.19 Million in Toll Brothers Inc. $TOL

Kingsview Wealth Management LLC bought a new stake in shares of Toll Brothers Inc. (NYSE:TOL) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 7,218 shares of the construction company’s stock, valued at approximately $1,189,000.

A number of other institutional investors have also bought and sold shares of TOL. BlackRock Inc. bought a new position in shares of Toll Brothers in the second quarter worth about $1,610,696,000. Price T Rowe Associates Inc. MD raised its position in shares of 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 during the last quarter. Norges Bank bought a new stake in shares of Toll Brothers during the fourth quarter valued at approximately $168,312,000. Bamco Inc. NY purchased a new position in shares of Toll Brothers in the second quarter worth $166,250,000. Finally, Bank of New York Mellon Corp purchased a new position in Toll Brothers during the second quarter valued at $164,804,000. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TOL. Citigroup boosted their price target on shares of Toll Brothers from $176.00 to $179.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. Piper Sandler cut shares of Toll Brothers from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 9th. Oppenheimer downgraded Toll Brothers from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Toll Brothers from $161.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $158.00 target price on shares of Toll Brothers in a research note on Thursday, June 11th. Fifteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Toll Brothers currently has an average rating of “Moderate Buy” and an average price target of $167.27.

Toll Brothers Stock Up 0.8%

NYSE:TOL opened at $146.33 on Friday. The company has a market cap of $13.68 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 1.20 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 company has a current ratio of 4.53, a quick ratio of 0.55 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $151.46 and a 200-day simple moving average of $146.38.

Toll Brothers (NYSE:TOL) last posted its quarterly earnings results on Tuesday, August 18th. The construction company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.93 by $0.04. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.62 billion. Toll Brothers had a net margin of 11.14% and a return on equity of 14.21%. The firm’s revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.73 EPS. Analysts anticipate that Toll Brothers Inc. will post 12.81 EPS for the current year.

Toll Brothers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.7%. Toll Brothers’s dividend payout ratio is presently 8.35%.

Insider Activity

In related news, Chairman Douglas C. Jr. Yearley sold 77,957 shares of Toll Brothers 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Robert Parahus sold 7,500 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $149.66, for a total transaction of $1,122,450.00. Following the transaction, the chief operating officer owned 23,457 shares in the company, valued at approximately $3,510,574.62. The trade was a 24.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.37% of the company’s stock.

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.