Toll Brothers Inc. $TOL Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in shares of Toll Brothers Inc. (NYSE:TOL) by 10.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 240,064 shares of the construction company’s stock after selling 27,538 shares during the period. Pictet Asset Management Holding SA owned 0.26% of Toll Brothers worth $32,349,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Continuum Advisory LLC purchased a new position in Toll Brothers during the 2nd quarter valued at about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Toll Brothers during the second quarter worth about $35,000. Compass Financial Management LLC bought a new stake in Toll Brothers during the second quarter worth about $51,000. Caitlin John LLC bought a new stake in Toll Brothers during the second quarter worth about $53,000. Finally, Fiduciary Financial Advisors purchased a new stake in Toll Brothers in the second quarter worth about $53,000. Institutional investors own 91.76% of the company’s stock.

Toll Brothers Stock Down 2.5%

Shares of Toll Brothers stock opened at $152.38 on Wednesday. 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 stock 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 Inc. has a 52-week low of $123.14 and a 52-week high of $168.36. The company has a 50-day simple moving average of $138.88 and a two-hundred day simple moving average of $144.42.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings results on Tuesday, August 18th. The construction company reported $2.97 earnings per share for the quarter, beating the consensus estimate 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 net margin of 11.14% and a return on equity of 14.21%. The firm’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.73 earnings per share. On average, analysts anticipate that Toll Brothers Inc. will post 12.80 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 9th were issued a $0.26 dividend. The ex-dividend date of this dividend was Friday, October 9th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.7%. Toll Brothers’s dividend payout ratio (DPR) is presently 8.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TOL shares. Stonex Financial upgraded shares of Toll Brothers to a “strong-buy” rating in a report on Thursday, October 15th. Truist Financial boosted their price target on Toll Brothers from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Morgan Stanley upped their price target on Toll Brothers from $159.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Citigroup reduced their price objective on Toll Brothers from $179.00 to $168.00 and set a “buy” rating for the company in a research report on Thursday, October 15th. Finally, Melius Research started coverage on Toll Brothers in a research note on Tuesday, October 6th. They set a “buy” rating and a $179.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.40.

Insider Buying and Selling at Toll Brothers

In other news, Director Stephen East sold 800 shares of the business’s stock in a transaction on 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 in the company, valued at $1,719,185.58. The trade was a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.37% of the stock is owned by corporate insiders.

Toll Brothers 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.