Readystate Asset Management LP Takes Position in Toll Brothers Inc. $TOL

Readystate Asset Management LP bought a new position in Toll Brothers Inc. (NYSE:TOL) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,767 shares of the construction company’s stock, valued at approximately $2,288,000.

Other institutional investors have also bought and sold shares of the company. Royal Bank of Canada raised its stake in Toll Brothers by 29.7% during the first quarter. Royal Bank of Canada now owns 311,776 shares of the construction company’s stock worth $42,548,000 after acquiring an additional 71,399 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Toll Brothers by 6.2% in the 1st quarter. Empowered Funds LLC now owns 185,113 shares of the construction company’s stock worth $25,262,000 after purchasing an additional 10,744 shares during the last quarter. Infrastructure Capital Advisors LLC acquired a new stake in shares of Toll Brothers during the 1st quarter worth about $4,261,000. Quantinno Capital Management LP increased its position in shares of Toll Brothers by 158.4% during the 1st quarter. Quantinno Capital Management LP now owns 497,751 shares of the construction company’s stock worth $67,928,000 after purchasing an additional 305,097 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Toll Brothers by 5.8% during the 1st quarter. Lazard Asset Management LLC now owns 11,452 shares of the construction company’s stock valued at $1,563,000 after purchasing an additional 629 shares during the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Evercore reaffirmed an “outperform” rating and set a $185.00 price objective on shares of Toll Brothers in a research note on Thursday, May 21st. Weiss Ratings upgraded shares of Toll Brothers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Citigroup upgraded Toll Brothers from a “neutral” rating to a “buy” rating and increased their price target for the stock from $146.00 to $176.00 in a research report on Friday, July 10th. BTIG Research started coverage on Toll Brothers in a report on Tuesday, June 9th. They set a “buy” rating for the company. Finally, Piper Sandler downgraded Toll Brothers from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 9th. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $164.88.

Insider Activity at Toll Brothers

In other Toll Brothers news, COO Robert Parahus sold 7,500 shares of the company’s stock in a transaction 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 owned 23,457 shares of the company’s stock, valued at approximately $3,510,574.62. This represents a 24.23% decrease in their position. The transaction was disclosed in a 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 transaction, the chairman 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.37% of the company’s stock.

Toll Brothers Trading Up 2.6%

TOL opened at $155.01 on Wednesday. Toll Brothers Inc. has a 1-year low of $117.50 and a 1-year high of $168.36. The stock has a market capitalization of $14.49 billion, a PE ratio of 11.73, a PEG ratio of 1.25 and a beta of 1.34. The company has a current ratio of 4.67, a quick ratio of 0.59 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $148.25 and a two-hundred day moving average price of $145.95.

Toll Brothers (NYSE:TOL) last announced its earnings results on Tuesday, May 19th. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period in the prior year, the business earned $3.50 earnings per share. Toll Brothers’s quarterly revenue was down 7.6% on a year-over-year basis. As a group, equities analysts anticipate that Toll Brothers Inc. will post 12.69 earnings per share for the current fiscal year.

Toll Brothers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, July 10th. Toll Brothers’s payout ratio is 7.87%.

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.