Kornitzer Capital Management Inc. KS Invests $5.31 Million in Toll Brothers Inc. $TOL

Kornitzer Capital Management Inc. KS purchased a new position in Toll Brothers Inc. (NYSE:TOL) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 32,242 shares of the construction company’s stock, valued at approximately $5,312,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TOL. Hilton Head Capital Partners LLC boosted its stake in Toll Brothers by 65.5% during the 1st quarter. Hilton Head Capital Partners LLC now owns 187 shares of the construction company’s stock valued at $26,000 after acquiring an additional 74 shares during the last quarter. Wiser Advisor Group LLC bought a new stake in shares of Toll Brothers in the 3rd quarter worth about $27,000. Pinnacle Holdings LLC acquired a new stake in shares of Toll Brothers in the 4th quarter valued at about $27,000. Measured Wealth Private Client Group LLC bought a new position in shares of Toll Brothers during the third quarter worth about $29,000. Finally, Turning Point Benefit Group Inc. bought a new position in shares of Toll Brothers during the third quarter worth about $37,000. Institutional investors own 91.76% of the company’s stock.

Toll Brothers Price Performance

Shares of NYSE:TOL opened at $148.09 on Friday. The company has a market cap of $13.84 billion, a PE ratio of 11.20, a P/E/G ratio of 1.23 and a beta of 1.35. Toll Brothers Inc. has a fifty-two week low of $123.14 and a fifty-two week high of $168.36. The firm has a 50-day simple moving average of $151.69 and a 200 day simple moving average of $146.40. 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 issued 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 firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the company posted $3.50 earnings per share. Toll Brothers’s revenue was down 7.6% on a year-over-year basis. On average, sell-side analysts anticipate that Toll Brothers Inc. will post 12.69 EPS for the current year.

Toll Brothers Announces Dividend

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

Insider Activity at Toll Brothers

In other Toll Brothers news, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the stock in a transaction 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 sale, the chairman directly owned 321,256 shares of the company’s stock, valued at $50,302,264.48. This trade represents a 19.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Robert Parahus sold 7,500 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $149.66, for a total value of $1,122,450.00. Following the completion of the sale, the chief operating officer owned 23,457 shares in the company, valued at $3,510,574.62. The trade was a 24.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TOL shares. Weiss Ratings raised Toll Brothers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. BTIG Research began coverage on Toll Brothers in a report on Tuesday, June 9th. They set a “buy” rating on the stock. Piper Sandler lowered Toll Brothers from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 9th. UBS Group upgraded Toll Brothers from a “buy” rating to a “buy” rating in a report on Tuesday, June 9th. Finally, Truist Financial dropped their price target on Toll Brothers from $170.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.88.

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.