On August 8, 2023, the Treasurer of the State of North Carolina made headlines as it revealed a 4.6% increase in its stake of Toll Brothers, Inc. (NYSE:TOL) during the first quarter. This development was disclosed in the company’s most recent 13F filing with the Securities and Exchange Commission (SEC), revealing that the state fund now owns 48,188 shares of Toll Brothers’ stock after acquiring an additional 2,100 shares in this period. These holdings were valued at approximately $2,893,000 at the end of the quarter.
Toll Brothers is a well-known construction company that recently announced its quarterly earnings results on May 24th. The company surpassed market expectations by reporting earnings per share (EPS) of $2.85 for the quarter, surpassing a consensus estimate of $1.89 by an impressive $0.96. Furthermore, Toll Brothers demonstrated a strong return on equity of 21.75%, indicating success in utilizing shareholders’ investments to generate profits. The company also boasted a net margin of 13.59%. In terms of revenue, Toll Brothers raked in an impressive $2.51 billion during this period, exceeding analyst estimates of $2.07 billion and marking a notable year-over-year growth rate of 10.1%.
The positive financial performance impressed both investors and analysts alike who anticipate that Toll Brothers will continue to prosper throughout the fiscal year despite current economic challenges within the construction industry due to ongoing global circumstances.
Various equities research analysts have shared their opinions on TOL’s outlook as well since these earnings were released earlier this year. StockNews.com downgraded Toll Brothers from a “strong-buy” rating to “buy,” suggesting confidence in the company’s prospects but not without some reservations expressed by market experts.
In contrast, Royal Bank of Canada upgraded Toll Brothers from “sector perform” to “outperform,” upgrading the stock’s target price from $55.00 to $77.00. Deutsche Bank Aktiengesellschaft also shared a favorable outlook as they initiated coverage on Toll Brothers, giving it a “buy” rating and setting a target price of $94.00.
Other financial institutions such as Bank of America and Credit Suisse Group also raised their price targets on Toll Brothers’ stock, increasing them from $76.00 to $88.00 and from $63.00 to $73.00, respectively.
Taking into account these various ratings and opinions, Bloomberg.com currently assigns Toll Brothers an average rating of “Moderate Buy,” with an average target price of $75.83 per share.
As the Treasurer of the State of North Carolina increases its stake in Toll Brothers, investors will be eagerly watching for further developments in this dynamic construction company as it navigates through potential challenges in the market while aiming to sustain its impressive growth rate and profitability exhibited in its recent earnings report.
In conclusion, Toll Brothers continues to captivate both investors and analysts alike with its robust financial performance and optimistic outlook within the construction industry. The increased stake by the Treasurer of the State of North Carolina adds further intrigue to the company’s story, raising expectations for future growth and success despite any hurdles it may face along the way.
Prominent Investors Show Confidence in Toll Brothers as Company Expands Market Presence
Unique Investors Purchase Toll Brothers Shares as Company Expands Market Presence
August 8, 2023
In the ever-evolving world of investment, several prominent investors have recently bought and sold shares of the well-established construction company, Toll Brothers. The activity in Toll Brothers’ stock has captured the attention of Wall Street, leading to a surge in confidence and interest from other industry players.
One such investor is International Assets Investment Management LLC, which acquired a new stake in Toll Brothers during the first quarter. This bold move demonstrates the firm’s belief in Toll Brothers’ potential for growth and profitability. The stake was valued at an impressive $29,000, reaffirming their commitment to capitalizing on emerging opportunities within the construction industry.
City Holding Co., another significant player in the market, also entered into a new partnership with Toll Brothers during the same period. This strategic move reflects City Holding Co.’s confidence in Toll Brothers’ ability to generate favorable returns on investment. Their purchase of shares worth approximately $37,000 positions them as key stakeholders in Toll Brothers’ future endeavors.
ICA Group Wealth Management LLC recognized the potential of partnering with Toll Brothers back in the fourth quarter of last year. By investing $50,000 in their shares during this crucial period, ICA Group Wealth Management showcased their dedication to securing a prosperous future for both themselves and Toll Brothers.
Machina Capital S.A.S., a seasoned investor known for making astute financial decisions, also joined forces with Toll Brothers during the first quarter. Their calculated purchase of shares worth around $54,000 suggests that they anticipate substantial gains from this investment opportunity.
Global Wealth Management Investment Advisory Inc., having already held shares with Toll Brothers before increasing its holdings by 42.1% earlier this year, exemplifies loyalty and confidence in their expansive business network. With an additional 400 shares valued at $63,000 acquired during Q1 alone, this esteemed institution recognizes the potential for growth within Toll Brothers’ stock.
It is noteworthy that these esteemed investors now own an impressive 91.89% of Toll Brothers’ stock, showcasing a high level of trust and belief in the company’s future success. Such significant investment by institutional investors and hedge funds bodes well for the company, asserting that they are poised to expand their market presence and reign supreme in the construction industry.
On Tuesday, August 8, 2023, Toll Brothers opened on the New York Stock Exchange (NYSE:TOL) at $80.26. This resulted in a market capitalization of $8.78 billion, further solidifying the company’s influential position within the industry.
Its price-to-earnings ratio stand at an attractive 6.41, indicating that investors see favorable opportunities for long-term gains from investing in Toll Brothers shares. Additionally, with a P/E/G ratio of 0.68 and a beta of 1.42, Toll Brothers demonstrates its stability amid market volatility.
Toll Brothers’ performance over the past year has been remarkable, with its share value reaching both a 52-week low of $39.53 and a staggering high of $83.72 during this period. This extraordinary range showcases not only their resilience but also their ability to adapt to changing market conditions.
Moreover, Toll Brothers maintains solid financial health with its fifty-day moving average currently at $76.92 and its two-hundred-day moving average standing at $66.15. This further underlines their consistent growth and staying power within an ever-changing economic landscape.
Experts in equities research have shared valuable insights into Toll Brothers’ performance as well. StockNews.com lowered its rating from “strong-buy” to “buy” on June 27th, signaling a continued optimism but with more measured expectations behind it.
Royal Bank of Canada upgraded the company’s rating from “sector perform” to “outperform” and raised the price objective for Toll Brothers’ stock from $55.00 to $77.00 on May 25th, indicating confidence in the company’s ability to exceed market expectations.
Deutsche Bank Aktiengesellschaft commenced coverage of Toll Brothers with a “buy” rating and set a target price of $94.00 on May 31st, highlighting the untapped potential that still lies within this dynamic company.
Bank of America and Credit Suisse Group echoed these sentiments by increasing their respective price targets to $88.00 and $73.00 soon after.
In light of these analyses, it is reasonable to conclude that Toll Brothers possesses considerable growth potential and is poised for even greater success in the coming years.
On another front, Toll Brothers recently declared a quarterly dividend which was paid on Friday, July 21st, further reinforcing its commitment towards shareholder value. As a result, stockholders of record on Friday, July 7th received a dividend of $0.21 per share. This equates to an annualized dividend payout ratio of 6.70% with a yield of 1.05%.
Insider trading activity has also been observed at Toll Brothers recently. Its CEO, Douglas C. Jr. Yearley, sold 50,000