Corebridge Financial Inc. Lowers Position in Toll Brothers, Inc. (NYSE:TOL)

Corebridge Financial Inc. lowered its holdings in Toll Brothers, Inc. (NYSE:TOL) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 114,250 shares of the construction company’s stock after selling 7,134 shares during the quarter. Corebridge Financial Inc.’s holdings in Toll Brothers were worth $14,390,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. ORG Partners LLC purchased a new stake in Toll Brothers during the fourth quarter worth $25,000. Brooklyn Investment Group bought a new position in shares of Toll Brothers in the 3rd quarter worth $27,000. Lee Danner & Bass Inc. bought a new stake in Toll Brothers during the fourth quarter valued at about $27,000. Larson Financial Group LLC boosted its position in Toll Brothers by 57.9% during the third quarter. Larson Financial Group LLC now owns 180 shares of the construction company’s stock valued at $28,000 after purchasing an additional 66 shares in the last quarter. Finally, Promus Capital LLC purchased a new position in Toll Brothers in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Analyst Ratings Changes

TOL has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Toll Brothers from $170.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Barclays lowered their target price on shares of Toll Brothers from $115.00 to $101.00 and set an “underweight” rating for the company in a research note on Tuesday, February 25th. Bank of America reduced their price target on Toll Brothers from $156.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. StockNews.com cut Toll Brothers from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th. Finally, Royal Bank of Canada decreased their price target on Toll Brothers from $142.00 to $139.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.57.

Toll Brothers Price Performance

Shares of NYSE TOL opened at $111.07 on Wednesday. Toll Brothers, Inc. has a 52 week low of $102.49 and a 52 week high of $169.52. The business’s 50 day moving average price is $120.51 and its 200 day moving average price is $137.10. The company has a quick ratio of 0.80, a current ratio of 4.65 and a debt-to-equity ratio of 0.35. The firm has a market cap of $11.09 billion, a P/E ratio of 7.64, a P/E/G ratio of 1.02 and a beta of 1.77.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.75 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.24). Toll Brothers had a net margin of 14.03% and a return on equity of 18.32%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.91 billion. On average, sell-side analysts expect that Toll Brothers, Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a dividend of $0.25 per share. This is an increase from Toll Brothers’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, April 11th. Toll Brothers’s dividend payout ratio (DPR) is currently 6.88%.

Insider Buying and Selling at Toll Brothers

In other Toll Brothers news, CFO Martin P. Connor sold 11,140 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $126.07, for a total value of $1,404,419.80. Following the sale, the chief financial officer now owns 20,618 shares in the company, valued at approximately $2,599,311.26. This represents a 35.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Christine Garvey sold 204 shares of Toll Brothers stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $125.78, for a total transaction of $25,659.12. Following the transaction, the director now directly owns 7,728 shares of the company’s stock, valued at approximately $972,027.84. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,764 shares of company stock worth $1,476,523. Insiders own 1.54% of the company’s stock.

Toll Brothers Company Profile

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for a range of detached and attached homes in luxury residential communities in the United States. It designs, builds, markets, and sells condominiums through Toll Brothers City Living. The company also develops a range of single-story living and first-floor primary bedroom suite home designs, as well as communities with recreational amenities, such as golf courses, marinas, pool complexes, country clubs, and fitness and recreation centers; and develops, operates, and rents apartments.