American Century Companies Inc., a prominent investment management firm, has recently increased its stake in Toll Brothers, Inc., a renowned construction company listed on the New York Stock Exchange (NYSE:TOL). According to the company’s disclosure filed with the Securities and Exchange Commission (SEC), American Century Companies Inc. raised its stake by a significant 68.0% during the first quarter of this year.
This increase in stake resulted in the acquisition of an additional 128,547 shares of Toll Brothers’ stock, bringing American Century Companies Inc.’s total ownership to 317,633 shares. At the end of the quarter, these shares were valued at approximately $19,068,000. It is important to note that American Century Companies Inc.’s ownership represented 0.29% of Toll Brothers’ total market worth during this period.
Toll Brothers is a leading construction company known for its expertise in building residential communities and luxury homes across various regions in the United States. The company’s dedication to quality craftsmanship and exceptional customer service has earned it a solid reputation within the industry.
Apart from increasing its stake in Toll Brothers, American Century Companies Inc. also recently declared a quarterly dividend for its shareholders. The dividend was paid on Friday, July 21st to shareholders of record on Friday, July 7th. Shareholders received a dividend amounting to $0.21 per share.
Considering this dividend payout and assuming it continues at the same rate for a full year, Toll Brothers’ dividend yield stands at 1.03%. This indicates that shareholders can expect an annualized dividend totaling $0.84 per share. It is worth noting that Toll Brothers maintains a payout ratio of 6.04%, which denotes that only a small percentage of its earnings are utilized for distributing dividends.
It is evident that American Century Companies Inc.’s increased investment in Toll Brothers reflects their confidence in the company’s long-term growth potential and financial stability. As one of the leading construction companies in the United States, Toll Brothers continues to deliver exceptional results and maintain its position at the forefront of the industry.
As September 2, 2023, marks an important date for this information, it will be interesting to observe how Toll Brothers further expands and capitalizes on its expertise in residential construction. Additionally, shareholders will closely monitor any future developments and dividends declared by the company.
In conclusion, American Century Companies Inc.’s recent increase in stake in Toll Brothers demonstrates their belief in the company’s growth prospects. The investment management firm has recognized Toll Brothers’ strong market presence and outstanding performance within the construction industry. This development showcases not only American Century Companies Inc.’s confidence in Toll Brothers as a solid investment opportunity but also represents an assurance for existing shareholders regarding future rewards and potential capital appreciation.
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Toll Brothers: Institutional Investors Show Interest as Company’s Performance and Stock Ratings Improve
In recent months, several institutional investors and hedge funds have made significant modifications to their holdings of Toll Brothers (NYSE:TOL) stock. One such investor is International Assets Investment Management LLC, which acquired a new stake in the construction company during the first quarter of this year. The value of this stake was estimated to be around $29,000.
Another notable investor is Mitsubishi UFJ Trust & Banking Corp, who saw a 151.4% increase in their position in Toll Brothers during the same period. They now own 12,908 shares in the company, valued at approximately $775,000 after purchasing an additional 7,774 shares.
Pictet Asset Management SA also increased their position in Toll Brothers by 41.4% during the first quarter. Their new ownership stands at 790,218 shares worth $47,437,000 after purchasing an additional 231,506 shares.
Gateway Investment Advisers LLC’s position in Toll Brothers saw a minimal increase of 0.4% during the first quarter. They currently hold 138,632 shares worth $8,322,000 after acquiring an extra 621 shares.
Lastly, GSA Capital Partners LLP witnessed a growth of 16.2% in their position during the fourth quarter of last year. They now own 11,990 shares worth $599,000 after adding an additional 1,676 shares.
Together with other institutional investors and hedge funds, these stakeholders currently possess approximately 91.11% of Toll Brothers’ stock.
Research analysts have also been closely monitoring Toll Brothers’ performance and providing insights on its stock ratings. StockNews.com recently initiated coverage onthe company and issued a “buy” rating for its stocks on August 17th.
Wedbush analysts raised their target price for Toll Brothers from $73 to $82 dollars while maintaining a “neutral” rating on August 24th.
UBS Group also had a positive outlook for the company, increasing their target price from $82 to $107 dollars and rating it as “buy” on the same day.
Citigroup analysts adjusted their target price from $72 to $85 dollars on July 5th.
Finally, Raymond James analysts upgraded their recommendation to a “strong-buy” rating for Toll Brothers while raising the price objective from $100 to $110 dollars on August 24th.
Based on data compiled by Bloomberg.com, Toll Brothers has an overall average consensus rating of “Moderate Buy.” Analysts have set an average target price of $87.31 for the company’s stock.
As of Friday’s opening, Toll Brothers’ stock was valued at $81.89. The company currently holds a market capitalization of approximately $8.95 billion with a relatively low and attractive price-to-earnings ratio of 5.89. Moreover, its PEG (price/earnings-to-growth) ratio stands at 0.67, further highlighting its robust value proposition compared to comparable industry peers.
Toll Brothers has experienced both lows and highs over the past year, with a 52-week low of $39.53 and a 52-week high of $83.72. The stock’s 50-day moving average is currently at $79.26 while its two-hundred-day moving average stands at $68.78, indicating consistent growth in recent months.
On August 23rd this year, Toll Brothers released its quarterly earnings results which surpassed expectations. With earnings per share (EPS) reported at $3.73 for the quarter, it exceeded analyst estimates by $0.88.
The company generated revenue of approximately $2.69 billion in Q2 2023 according to analysts’ forecasts of around $2.40 billion – marking an increase of 7.7% compared to the same quarter last year.
Overall, Toll Brothers’ financial performance showcases a solid return on equity of 22.97% and a net margin of 14.66%. The firm’s consistent revenue growth and strong profitability indicate its resilience in the construction industry.
Analysts predict that Toll Brothers, Inc. will post an impressive 11.59 earnings per share for the current year, further supporting positive market sentiment for the company’s stock.
In conclusion, Toll Brothers has caught the attention of several influential institutional investors and hedge funds due to its promising financial performance and future prospects. With positive recommendations from research analysts and impressive quarterly results, the company appears well-positioned for continued growth in the construction sector. Investors should keep a close watch on Toll Brothers as it continues to make strides in this competitive market.
