Castleark Management LLC Has $2.73 Million Stock Position in Toll Brothers Inc. $TOL

Castleark Management LLC cut its stake in Toll Brothers Inc. (NYSE:TOL) by 67.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,573 shares of the construction company’s stock after selling 34,830 shares during the period. Castleark Management LLC’s holdings in Toll Brothers were worth $2,730,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TOL. BlackRock Inc. bought a new stake in shares of Toll Brothers in the 2nd quarter valued at $1,610,696,000. Price T Rowe Associates Inc. MD increased its position in shares of Toll Brothers by 2,067.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,303,915 shares of the construction company’s stock worth $446,756,000 after buying an additional 3,151,509 shares during the period. Dimensional Fund Advisors LP raised its stake in Toll Brothers by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,990,447 shares of the construction company’s stock worth $408,062,000 after buying an additional 100,718 shares during the last quarter. Jennison Associates LLC raised its stake in Toll Brothers by 30.1% during the first quarter. Jennison Associates LLC now owns 1,418,543 shares of the construction company’s stock worth $193,589,000 after buying an additional 327,953 shares during the last quarter. Finally, Norges Bank acquired a new position in Toll Brothers in the fourth quarter valued at $168,312,000. Institutional investors own 91.76% of the company’s stock.

Insider Activity at Toll Brothers

In other news, COO Robert Parahus sold 7,500 shares of the business’s stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the company’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 transaction, the chairman directly 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.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Benchmark initiated coverage on shares of Toll Brothers in a research report on Tuesday, June 9th. They set a “buy” rating on the stock. Evercore reissued an “outperform” rating and issued a $191.00 price objective on shares of Toll Brothers in a research note on Thursday, August 20th. Barclays upped their target price on Toll Brothers from $115.00 to $122.00 and gave the company an “underweight” rating in a research report on Tuesday, July 14th. Keefe, Bruyette & Woods raised Toll Brothers from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $158.00 to $161.00 in a research note on Tuesday, June 9th. Finally, BTIG Research assumed coverage on Toll Brothers in a report on Tuesday, June 9th. They issued a “buy” rating for the company. Fifteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Toll Brothers currently has an average rating of “Moderate Buy” and a consensus price target of $166.67.

Toll Brothers Price Performance

Shares of NYSE TOL opened at $148.32 on Thursday. The firm has a market capitalization of $13.86 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.24 and a beta of 1.35. The firm’s 50-day moving average price is $151.86 and its 200-day moving average price is $146.43. The company has a current ratio of 4.53, a quick ratio of 0.55 and a debt-to-equity ratio of 0.32. Toll Brothers Inc. has a 1-year low of $123.14 and a 1-year high of $168.36.

Toll Brothers (NYSE:TOL) last issued its earnings results on Tuesday, August 18th. The construction company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.93 by $0.04. Toll Brothers had a return on equity of 14.21% and a net margin of 11.14%.The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the business posted $3.73 EPS. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. Equities research analysts anticipate that Toll Brothers Inc. will post 12.81 earnings per share for the current fiscal year.

Toll Brothers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, July 10th. Toll Brothers’s dividend payout ratio (DPR) is 8.35%.

Toll Brothers 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.