Fifth Third Bancorp Grows Position in Toll Brothers Inc. $TOL

Fifth Third Bancorp grew its position in Toll Brothers Inc. (NYSE:TOL) by 2,672.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,362 shares of the construction company’s stock after purchasing an additional 27,339 shares during the period. Fifth Third Bancorp’s holdings in Toll Brothers were worth $3,871,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Greenhaven Associates Inc. lifted its position in Toll Brothers by 0.4% during the fourth quarter. Greenhaven Associates Inc. now owns 5,603,187 shares of the construction company’s stock valued at $757,663,000 after buying an additional 22,218 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Toll Brothers by 2,067.8% in the 4th 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 acquiring an additional 3,151,509 shares during the period. Norges Bank purchased a new position in shares of Toll Brothers in the 4th quarter valued at $168,312,000. Bamco Inc. NY lifted its holdings in shares of Toll Brothers by 0.8% during the 4th quarter. Bamco Inc. NY now owns 1,166,270 shares of the construction company’s stock valued at $157,703,000 after acquiring an additional 9,385 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Toll Brothers by 3.3% during the 4th quarter. Morgan Stanley now owns 1,105,793 shares of the construction company’s stock valued at $149,526,000 after acquiring an additional 35,719 shares in the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Toll Brothers Stock Performance

Shares of TOL opened at $150.58 on Friday. The firm has a market cap of $14.07 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.25 and a beta of 1.34. 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 business’s 50 day moving average is $145.56 and its two-hundred day moving average is $145.22. Toll Brothers Inc. has a 52-week low of $115.50 and a 52-week high of $168.36.

Toll Brothers (NYSE:TOL) last posted 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. 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 for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the prior year, the company posted $3.50 earnings per share. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. Analysts forecast that Toll Brothers Inc. will post 12.69 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Friday, July 10th will be issued 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 is Friday, July 10th. Toll Brothers’s dividend payout ratio (DPR) is 7.87%.

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 shares were sold at an average price of $156.58, for a total transaction of $12,206,507.06. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $1,122,450.00. Following the sale, the chief operating officer 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. 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

Several analysts recently issued reports on TOL shares. Piper Sandler downgraded Toll Brothers from an “overweight” rating to a “neutral” rating in a report on Tuesday, June 9th. Evercore restated an “outperform” rating and set a $185.00 price objective on shares of Toll Brothers in a research note on Thursday, May 21st. Keefe, Bruyette & Woods raised Toll Brothers from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $158.00 to $161.00 in a research report on Tuesday, June 9th. Citigroup upgraded Toll Brothers from a “neutral” rating to a “buy” rating and increased their target price for the company from $146.00 to $176.00 in a research note on Friday, July 10th. Finally, Barclays raised their target price on Toll Brothers from $115.00 to $122.00 and gave the company an “underweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.