Pictet Asset Management Holding SA Sells 27,538 Shares of Toll Brothers Inc. $TOL

Pictet Asset Management Holding SA trimmed its position in shares of Toll Brothers Inc. (NYSE:TOL) by 10.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 240,064 shares of the construction company’s stock after selling 27,538 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Toll Brothers were worth $32,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Toll Brothers in the second quarter worth $1,610,696,000. State Street Corp lifted its holdings in Toll Brothers by 4.4% in the second quarter. State Street Corp now owns 3,505,828 shares of the construction company’s stock valued at $577,585,000 after acquiring an additional 146,163 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Toll Brothers by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,990,447 shares of the construction company’s stock valued at $408,062,000 after acquiring an additional 100,718 shares during the period. Jennison Associates LLC lifted its holdings in Toll Brothers by 30.1% in the first quarter. Jennison Associates LLC now owns 1,418,543 shares of the construction company’s stock valued at $193,589,000 after acquiring an additional 327,953 shares during the period. Finally, Bamco Inc. NY bought a new position in Toll Brothers in the second quarter valued at about $166,250,000. 91.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Toll Brothers

In other news, Director Stephen East sold 800 shares of the company’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $135.99, for a total value of $108,792.00. Following the completion of the transaction, the director owned 12,642 shares of the company’s stock, valued at $1,719,185.58. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Stonex Financial raised Toll Brothers to a “strong-buy” rating in a research report on Thursday, October 15th. Truist Financial upped their price target on shares of Toll Brothers from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Citigroup lowered their price objective on shares of Toll Brothers from $179.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, October 15th. Keefe, Bruyette & Woods raised their price objective on shares of Toll Brothers from $161.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, August 28th. Finally, Royal Bank Of Canada cut their target price on shares of Toll Brothers from $158.00 to $148.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $167.40.

Toll Brothers Price Performance

NYSE TOL opened at $152.38 on Wednesday. The business’s fifty day moving average is $138.88 and its 200 day moving average is $144.42. Toll Brothers Inc. has a fifty-two week low of $123.14 and a fifty-two week high of $168.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.55 and a current ratio of 4.53. The company has a market capitalization of $14.04 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.16 and a beta of 1.30.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, August 18th. The construction company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.04. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.62 billion. Toll Brothers had a return on equity of 14.21% and a net margin of 11.14%. The firm’s revenue was down 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.73 EPS. Sell-side analysts predict that Toll Brothers Inc. will post 12.80 earnings per share for the current year.

Toll Brothers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 9th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, October 9th. Toll Brothers’s payout ratio is presently 8.35%.

Toll Brothers Company Profile

Toll Brothers, Inc. is a U.S. homebuilding company focused primarily on designing, building, marketing and selling luxury residential properties. Its offerings include single-family detached homes, townhomes and condominiums, as well as age-qualified communities and urban high-rise residences. Founded in 1967 by brothers Bob and Bruce Toll, the company has expanded from its Pennsylvania roots to serve homebuyers in markets across the United States. Its communities are generally designed for move-up, luxury and active-adult buyers.