Toll Brothers Inc. (TOL) Stake Lessened by Greenhaven Associates Inc.
Greenhaven Associates Inc. lessened its stake in Toll Brothers Inc. (NYSE:TOL) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,029,966 shares of the construction company’s stock after selling 13,338 shares during the quarter. Toll Brothers makes up approximately 2.4% of Greenhaven Associates Inc.’s holdings, making the stock its 11th largest position. Greenhaven Associates Inc. owned about 2.46% of Toll Brothers worth $159,224,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Partners Value Investments LP acquired a new stake in shares of Toll Brothers in the 2nd quarter valued at about $7,791,000. Cannell Peter B & Co. Inc. raised its stake in shares of Toll Brothers by 14.3% in the 2nd quarter. Cannell Peter B & Co. Inc. now owns 1,321,726 shares of the construction company’s stock valued at $52,221,000 after purchasing an additional 165,210 shares in the last quarter. Delta Lloyd Asset Management N.V. acquired a new stake in shares of Toll Brothers in the 2nd quarter valued at about $703,000. Swiss National Bank raised its stake in shares of Toll Brothers by 2.0% in the 2nd quarter. Swiss National Bank now owns 562,933 shares of the construction company’s stock valued at $22,241,000 after purchasing an additional 10,900 shares in the last quarter. Finally, Commerce Bank acquired a new stake in shares of Toll Brothers in the 2nd quarter valued at about $1,093,000. Institutional investors and hedge funds own 80.70% of the company’s stock.
Shares of Toll Brothers Inc. (TOL) traded up 0.10% during midday trading on Friday, hitting $39.00. 1,711,790 shares of the company were exchanged. The stock’s 50-day moving average is $38.92 and its 200-day moving average is $37.33. Toll Brothers Inc. has a one year low of $26.65 and a one year high of $41.07. The stock has a market cap of $6.38 billion, a PE ratio of 14.58 and a beta of 1.49.
Toll Brothers (NYSE:TOL) last released its quarterly earnings data on Tuesday, August 22nd. The construction company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.19. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.51 billion. Toll Brothers had a net margin of 8.12% and a return on equity of 10.44%. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. Equities research analysts anticipate that Toll Brothers Inc. will post $3.20 EPS for the current year.
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A number of brokerages have recently issued reports on TOL. BidaskClub lowered shares of Toll Brothers from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. KeyCorp restated a “hold” rating on shares of Toll Brothers in a research note on Friday, August 25th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $40.00 target price on shares of Toll Brothers in a research note on Thursday, August 24th. Zacks Investment Research lowered shares of Toll Brothers from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, Wedbush restated a “neutral” rating and issued a $37.00 target price (down previously from $40.00) on shares of Toll Brothers in a research note on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $40.27.
In related news, Director Richard J. Braemer sold 15,000 shares of Toll Brothers stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $37.74, for a total transaction of $566,100.00. Following the completion of the transaction, the director now directly owns 102,873 shares of the company’s stock, valued at approximately $3,882,427.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph R. Sicree sold 4,500 shares of Toll Brothers stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $38.50, for a total transaction of $173,250.00. Following the transaction, the insider now directly owns 27,267 shares of the company’s stock, valued at $1,049,779.50. The disclosure for this sale can be found here. Insiders have sold a total of 126,000 shares of company stock valued at $4,903,421 over the last three months. 8.78% of the stock is currently owned by 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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