Legal & General Group Plc Sells 40,957 Shares of Toll Brothers Inc. $TOL

Legal & General Group Plc trimmed its stake in Toll Brothers Inc. (NYSE:TOL) by 20.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 156,738 shares of the construction company’s stock after selling 40,957 shares during the period. Legal & General Group Plc’s holdings in Toll Brothers were worth $21,194,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Candriam S.C.A. acquired a new position in Toll Brothers in the third quarter valued at about $5,407,000. Allspring Global Investments Holdings LLC raised its stake in shares of Toll Brothers by 25.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 108,379 shares of the construction company’s stock valued at $14,694,000 after acquiring an additional 21,907 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of Toll Brothers in the third quarter valued at approximately $6,929,000. Allianz Asset Management GmbH boosted its holdings in shares of Toll Brothers by 11.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 226,911 shares of the construction company’s stock worth $31,345,000 after acquiring an additional 22,687 shares in the last quarter. Finally, Advisors Capital Management LLC bought a new position in Toll Brothers in the 3rd quarter valued at $2,514,000. 91.76% of the stock is owned by institutional investors.

Toll Brothers Stock Performance

Shares of TOL stock opened at $138.67 on Monday. The stock has a market cap of $13.13 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36. The stock has a 50-day moving average of $137.80 and a 200-day moving average of $141.79. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.67 and a quick ratio of 0.59. Toll Brothers Inc. has a one year low of $100.92 and a one year high of $168.36.

Toll Brothers (NYSE:TOL) last issued its quarterly earnings data on Tuesday, May 19th. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the previous year, the company earned $3.50 earnings per share. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. As a group, sell-side analysts expect that Toll Brothers Inc. will post 12.7 earnings per share for the current year.

Toll Brothers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 10th were given a $0.26 dividend. The ex-dividend date was Friday, April 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Toll Brothers’s previous quarterly dividend of $0.25. Toll Brothers’s dividend payout ratio is currently 7.87%.

Insiders Place Their Bets

In other Toll Brothers news, Director Stephen F. East sold 1,000 shares of Toll Brothers stock in a transaction dated Wednesday, April 15th. The stock was 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 in the company, valued at approximately $1,877,847.40. The trade was a 6.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Royal Bank Of Canada reduced their price target on shares of Toll Brothers from $161.00 to $158.00 and set an “outperform” rating on the stock in a research report on Thursday, May 21st. Evercore reiterated an “outperform” rating and set a $185.00 target price on shares of Toll Brothers in a research report on Thursday, May 21st. Keefe, Bruyette & Woods raised their price target on shares of Toll Brothers from $143.00 to $170.00 and gave the company a “market perform” rating in a report on Wednesday, February 25th. UBS Group decreased their price objective on Toll Brothers from $198.00 to $187.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Finally, Truist Financial cut their target price on shares of Toll Brothers from $170.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.81.

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.