Jennison Associates LLC Acquires 327,953 Shares of Toll Brothers Inc. $TOL

Jennison Associates LLC raised its holdings in Toll Brothers Inc. (NYSE:TOL) by 30.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,418,543 shares of the construction company’s stock after buying an additional 327,953 shares during the period. Jennison Associates LLC’s holdings in Toll Brothers were worth $193,589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Western Wealth Management LLC grew its holdings in shares of Toll Brothers by 2.6% in the 4th quarter. Western Wealth Management LLC now owns 2,658 shares of the construction company’s stock valued at $359,000 after acquiring an additional 68 shares in the last quarter. Root Financial Partners LLC raised its holdings in Toll Brothers by 21.9% during the fourth quarter. Root Financial Partners LLC now owns 389 shares of the construction company’s stock worth $53,000 after acquiring an additional 70 shares in the last quarter. Merit Financial Group LLC boosted its position in Toll Brothers by 0.4% during the fourth quarter. Merit Financial Group LLC now owns 20,568 shares of the construction company’s stock valued at $2,781,000 after purchasing an additional 72 shares during the last quarter. IFP Advisors Inc boosted its position in Toll Brothers by 2.4% during the fourth quarter. IFP Advisors Inc now owns 3,200 shares of the construction company’s stock valued at $433,000 after purchasing an additional 74 shares during the last quarter. Finally, Hilton Head Capital Partners LLC boosted its position in Toll Brothers by 65.5% during the first quarter. Hilton Head Capital Partners LLC now owns 187 shares of the construction company’s stock valued at $26,000 after purchasing an additional 74 shares during the last quarter. 91.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TOL has been the topic of several recent analyst reports. Seaport Research Partners reaffirmed a “neutral” rating on shares of Toll Brothers in a research report on Tuesday, April 7th. Royal Bank Of Canada reissued an “outperform” rating and issued a $158.00 price objective on shares of Toll Brothers in a report on Thursday, June 11th. Argus set a $170.00 target price on shares of Toll Brothers in a research note on Tuesday, June 2nd. Truist Financial lowered their target price on shares of Toll Brothers from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Finally, Barclays boosted their target price on shares of Toll Brothers from $115.00 to $122.00 and gave the stock an “underweight” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.88.

Insider Buying and Selling

In related news, COO Robert Parahus sold 7,500 shares of the business’s stock in a transaction that occurred on 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 directly owned 23,457 shares of the company’s stock, valued at approximately $3,510,574.62. The trade was a 24.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the stock in a transaction on Thursday, June 18th. The shares were 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 owned 321,256 shares in the company, valued at approximately $50,302,264.48. This trade represents a 19.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.37% of the stock is currently owned by insiders.

Toll Brothers Trading Down 3.4%

Toll Brothers stock opened at $150.58 on Friday. Toll Brothers Inc. has a 52 week low of $115.50 and a 52 week high of $168.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 4.67. The stock has a market capitalization of $14.07 billion, a P/E ratio of 11.39, a PEG ratio of 1.25 and a beta of 1.34. The stock has a 50-day simple moving average of $145.56 and a 200 day simple moving average of $145.22.

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, topping analysts’ consensus estimates of $2.58 by $0.14. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.42 billion. Toll Brothers had a return on equity of 15.47% and a net margin of 11.66%.The business’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.50 earnings per share. Analysts expect that Toll Brothers Inc. will post 12.69 earnings per share for the current year.

Toll Brothers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 10th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, July 10th. Toll Brothers’s payout ratio is currently 7.87%.

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.