Bank of New York Mellon Corp Boosts Holdings in Toll Brothers Inc. $TOL

Bank of New York Mellon Corp raised its holdings in shares of Toll Brothers Inc. (NYSE:TOL) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,034,687 shares of the construction company’s stock after purchasing an additional 14,437 shares during the period. Bank of New York Mellon Corp’s holdings in Toll Brothers were worth $139,910,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wiser Advisor Group LLC purchased a new position in Toll Brothers during the 3rd quarter valued at about $27,000. Abich Financial Wealth Management LLC purchased a new position in Toll Brothers during the 3rd quarter valued at about $28,000. Ramirez Asset Management Inc. purchased a new position in Toll Brothers during the 3rd quarter valued at about $28,000. Measured Wealth Private Client Group LLC purchased a new position in Toll Brothers during the 3rd quarter valued at about $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Toll Brothers during the 4th quarter valued at about $34,000. 91.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Toll Brothers news, Director Stephen F. East sold 1,000 shares of Toll Brothers stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $139.70, for a total transaction of $139,700.00. Following the transaction, 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. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.37% of the stock is currently owned by company insiders.

Toll Brothers Trading Down 1.4%

Shares of TOL stock opened at $137.83 on Friday. The stock has a market cap of $12.88 billion, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of 1.14 and a beta of 1.36. The company has a quick ratio of 0.59, a current ratio of 4.67 and a debt-to-equity ratio of 0.33. Toll Brothers Inc. has a fifty-two week low of $104.09 and a fifty-two week high of $168.36. The firm’s 50 day moving average price is $138.08 and its two-hundred day moving average price is $141.92.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings results on Tuesday, May 19th. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.14. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Toll Brothers had a net margin of 11.66% and a return on equity of 15.47%. Toll Brothers’s revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.50 earnings per share. On average, analysts anticipate that Toll Brothers Inc. will post 12.67 EPS for the current year.

Toll Brothers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Friday, April 10th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Toll Brothers’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, April 10th. Toll Brothers’s dividend payout ratio is presently 7.87%.

Wall Street Analyst Weigh In

TOL has been the subject of several recent research reports. Truist Financial dropped their target price on shares of Toll Brothers from $170.00 to $165.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Wells Fargo & Company lifted their price target on shares of Toll Brothers from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, February 19th. Royal Bank Of Canada lowered their price target on shares of Toll Brothers from $161.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, May 21st. JPMorgan Chase & Co. lifted their price target on shares of Toll Brothers from $141.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Finally, Barclays lowered their price target on shares of Toll Brothers from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $164.13.

Toll Brothers 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.