Pictet Asset Management Holding SA Decreases Stock Position in Toll Brothers Inc. $TOL

Pictet Asset Management Holding SA lessened its holdings in shares of Toll Brothers Inc. (NYSE:TOL) by 36.2% during the 4th quarter, HoldingsChannel reports. The firm owned 274,961 shares of the construction company’s stock after selling 156,078 shares during the period. Pictet Asset Management Holding SA’s holdings in Toll Brothers were worth $37,180,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Candriam S.C.A. purchased a new position in shares of Toll Brothers during the 3rd quarter worth $5,407,000. Moody Aldrich Partners LLC increased its position in Toll Brothers by 93.7% during the third quarter. Moody Aldrich Partners LLC now owns 27,234 shares of the construction company’s stock worth $3,762,000 after purchasing an additional 13,175 shares during the last quarter. Alps Advisors Inc. purchased a new position in Toll Brothers during the third quarter worth about $6,929,000. Allianz Asset Management GmbH boosted its holdings in Toll Brothers by 11.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 226,911 shares of the construction company’s stock valued at $31,345,000 after purchasing an additional 22,687 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Toll Brothers by 25.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 108,379 shares of the construction company’s stock valued at $14,694,000 after purchasing an additional 21,907 shares during the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Toll Brothers Stock Down 2.9%

Shares of NYSE TOL opened at $139.51 on Thursday. Toll Brothers Inc. has a 12-month low of $98.14 and a 12-month high of $168.36. The stock has a market cap of $13.21 billion, a P/E ratio of 9.96, a PEG ratio of 1.15 and a beta of 1.49. The company has a current ratio of 4.57, a quick ratio of 0.62 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $143.85 and its 200-day simple moving average is $141.71.

Toll Brothers (NYSE:TOL) last issued its earnings results on Tuesday, February 17th. The construction company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.14. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Toll Brothers had a net margin of 12.26% and a return on equity of 16.83%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.75 earnings per share. As a group, equities analysts predict that Toll Brothers Inc. will post 12.67 EPS for the current fiscal year.

Toll Brothers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Friday, April 10th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, April 10th. This is a positive change from Toll Brothers’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. Toll Brothers’s dividend payout ratio is 7.43%.

Insider Activity

In related news, CEO Douglas C. Jr. Yearley sold 45,116 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $160.42, for a total value of $7,237,508.72. Following the completion of the sale, the chief executive officer directly owned 321,256 shares of the company’s stock, valued at $51,535,887.52. This represents a 12.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen F. East sold 1,000 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $139.70, for a total value of $139,700.00. Following the completion of the sale, the director directly owned 13,442 shares of the company’s stock, valued at $1,877,847.40. The trade was a 6.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Toll Brothers from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Oppenheimer reissued an “outperform” rating and set a $180.00 target price (up from $177.00) on shares of Toll Brothers in a research note on Thursday, February 19th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $175.00 price target on shares of Toll Brothers in a research note on Wednesday, February 18th. Barclays lowered their price target on Toll Brothers from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Toll Brothers from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Toll Brothers has an average rating of “Moderate Buy” and a consensus price target of $164.44.

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.