Renaissance Technologies LLC Has $23.61 Million Holdings in Toll Brothers Inc. $TOL

Renaissance Technologies LLC raised its position in shares of Toll Brothers Inc. (NYSE:TOL) by 172.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 173,000 shares of the construction company’s stock after buying an additional 109,600 shares during the period. Renaissance Technologies LLC’s holdings in Toll Brothers were worth $23,609,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hilton Head Capital Partners LLC increased its position in shares of Toll Brothers by 65.5% in the first quarter. Hilton Head Capital Partners LLC now owns 187 shares of the construction company’s stock worth $26,000 after acquiring an additional 74 shares in the last quarter. Wiser Advisor Group LLC purchased a new stake in shares of Toll Brothers in the 3rd quarter valued at approximately $27,000. Pinnacle Holdings LLC acquired a new position in Toll Brothers in the 4th quarter worth approximately $27,000. Measured Wealth Private Client Group LLC acquired a new position in Toll Brothers in the 3rd quarter worth approximately $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Toll Brothers during the 4th quarter worth approximately $34,000. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Toll Brothers

In related news, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was 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 of the company’s stock, valued at approximately $50,302,264.48. The trade was a 19.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Robert Parahus sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $149.66, for a total value of $1,122,450.00. Following the completion of the transaction, the chief operating officer owned 23,457 shares in the company, valued at $3,510,574.62. This represents a 24.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TOL shares. Benchmark started coverage on shares of Toll Brothers in a research note on Tuesday, June 9th. They set a “buy” rating on the stock. Weiss Ratings raised Toll Brothers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Oppenheimer downgraded Toll Brothers from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 9th. Citigroup raised Toll Brothers from a “neutral” rating to a “buy” rating and upped their price target for the company from $146.00 to $176.00 in a research report on Friday, July 10th. Finally, Piper Sandler lowered Toll Brothers from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.88.

Toll Brothers Stock Down 3.1%

TOL stock opened at $150.13 on Thursday. The company has a 50 day moving average of $148.52 and a two-hundred day moving average of $146.05. The company has a market cap of $14.03 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.28 and a beta of 1.34. Toll Brothers Inc. has a 12-month low of $117.50 and a 12-month high of $168.36. The company has a quick ratio of 0.59, a current ratio of 4.67 and a debt-to-equity ratio of 0.33.

Toll Brothers (NYSE:TOL) last posted its quarterly earnings results on Tuesday, May 19th. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.58 by $0.14. Toll Brothers had a net margin of 11.66% and a return on equity of 15.47%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the previous year, the company posted $3.50 EPS. Toll Brothers’s revenue was down 7.6% on a year-over-year basis. On average, equities analysts anticipate that Toll Brothers Inc. will post 12.69 earnings per share for the current fiscal year.

Toll Brothers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were paid a $0.26 dividend. The ex-dividend date was Friday, July 10th. This represents a $1.04 dividend on an annualized basis and a yield of 0.7%. 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.