First Trust Advisors LP Cuts Stake in Toll Brothers Inc. (TOL)
First Trust Advisors LP lowered its position in Toll Brothers Inc. (NYSE:TOL) by 13.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,472 shares of the construction company’s stock after selling 34,509 shares during the period. First Trust Advisors LP owned 0.14% of Toll Brothers worth $8,908,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of TOL. IFP Advisors Inc increased its stake in Toll Brothers by 369.1% in the second quarter. IFP Advisors Inc now owns 2,735 shares of the construction company’s stock worth $108,000 after buying an additional 2,152 shares in the last quarter. US Bancorp DE increased its position in Toll Brothers by 1.8% in the first quarter. US Bancorp DE now owns 2,791 shares of the construction company’s stock worth $101,000 after buying an additional 49 shares during the period. Advisory Services Network LLC bought a new position in Toll Brothers during the first quarter worth approximately $114,000. Macquarie Group Ltd. increased its position in Toll Brothers by 17.9% in the fourth quarter. Macquarie Group Ltd. now owns 3,300 shares of the construction company’s stock worth $102,000 after buying an additional 500 shares during the period. Finally, Toronto Dominion Bank increased its position in Toll Brothers by 10.1% in the first quarter. Toronto Dominion Bank now owns 3,704 shares of the construction company’s stock worth $134,000 after buying an additional 339 shares during the period. 80.32% of the stock is owned by institutional investors.
Toll Brothers Inc. (NYSE TOL) opened at 37.78 on Friday. Toll Brothers Inc. has a 52 week low of $26.65 and a 52 week high of $41.07. The firm’s 50-day moving average price is $39.19 and its 200 day moving average price is $37.08. The firm has a market cap of $6.18 billion, a P/E ratio of 14.13 and a beta of 1.52.
Toll Brothers (NYSE:TOL) last announced its quarterly earnings results on Tuesday, August 22nd. The construction company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.19. Toll Brothers had a return on equity of 10.44% and a net margin of 8.12%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the company earned $0.61 earnings per share. The firm’s revenue was up 18.3% on a year-over-year basis. Equities analysts forecast that Toll Brothers Inc. will post $3.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Wednesday, July 12th. Toll Brothers’s payout ratio is presently 11.90%.
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TOL has been the subject of a number of analyst reports. Bank of America Corporation reaffirmed a “buy” rating and issued a $43.00 price target (up previously from $40.00) on shares of Toll Brothers in a research note on Wednesday, May 24th. BidaskClub downgraded Toll Brothers from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Barclays PLC downgraded Toll Brothers from an “equal weight” rating to an “underweight” rating and set a $37.00 price target for the company. in a research note on Tuesday, July 11th. Wedbush set a $37.00 price target on Toll Brothers and gave the company a “hold” rating in a research note on Friday, May 19th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $40.00 price target on shares of Toll Brothers in a research note on Thursday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.27.
In related news, CFO Martin P. Connor sold 2,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $38.45, for a total transaction of $76,900.00. Following the completion of the transaction, the chief financial officer now directly owns 34,836 shares of the company’s stock, valued at $1,339,444.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Douglas C. Jr. Yearley sold 4,155 shares of the stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $39.92, for a total value of $165,867.60. Following the transaction, the chief executive officer now directly owns 176,372 shares of the company’s stock, valued at $7,040,770.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,500 shares of company stock valued at $5,081,221. 8.78% of the stock is owned by corporate insiders.
About Toll Brothers
Toll Brothers, Inc is engaged in designing, building, marketing, selling and arranging financing for detached and attached homes in luxury residential communities. The Company operates through two segments: Traditional Home Building and Toll Brothers City Living (City Living). Within the Traditional Home Building segment, it operates in five geographic segments in the United States: the North, consisting of Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey and New York; the Mid-Atlantic, consisting of Delaware, Maryland, Pennsylvania and Virginia; the South, consisting of Florida, North Carolina and Texas; the West, consisting of Arizona, Colorado, Nevada and Washington, and California.
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