Capital Growth Management LP Sells 1,790,000 Shares of Toll Brothers Inc. (TOL)
Capital Growth Management LP cut its holdings in Toll Brothers Inc. (NYSE:TOL) by 60.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,160,000 shares of the construction company’s stock after selling 1,790,000 shares during the quarter. Toll Brothers accounts for approximately 2.1% of Capital Growth Management LP’s investment portfolio, making the stock its 17th largest position. Capital Growth Management LP owned 0.71% of Toll Brothers worth $45,832,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. NewSquare Capital LLC purchased a new position in shares of Toll Brothers in the second quarter valued at $101,000. Advisors Asset Management Inc. grew its holdings in shares of Toll Brothers by 61.6% in the second quarter. Advisors Asset Management Inc. now owns 2,667 shares of the construction company’s stock valued at $105,000 after purchasing an additional 1,017 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Toll Brothers by 369.1% in the second quarter. IFP Advisors Inc now owns 2,735 shares of the construction company’s stock valued at $108,000 after purchasing an additional 2,152 shares in the last quarter. US Bancorp DE grew its holdings in shares of Toll Brothers by 1.8% in the first quarter. US Bancorp DE now owns 2,791 shares of the construction company’s stock valued at $101,000 after purchasing an additional 49 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of Toll Brothers by 10.1% in the first quarter. Toronto Dominion Bank now owns 3,704 shares of the construction company’s stock valued at $134,000 after purchasing an additional 339 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.
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In other news, Director Carl B. Marbach sold 12,900 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $39.97, for a total transaction of $515,613.00. Following the completion of the transaction, the director now directly owns 114,149 shares in the company, valued at approximately $4,562,535.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard J. Braemer sold 7,500 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $37.88, for a total value of $284,100.00. Following the transaction, the director now owns 110,373 shares of the company’s stock, valued at $4,180,929.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,400 shares of company stock valued at $1,278,984. Company insiders own 8.78% of the company’s stock.
Several research analysts have commented on TOL shares. Royal Bank Of Canada reaffirmed a “buy” rating and set a $43.00 price objective on shares of Toll Brothers in a research note on Monday, May 22nd. BidaskClub lowered shares of Toll Brothers from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Mizuho reaffirmed a “buy” rating on shares of Toll Brothers in a research note on Tuesday, July 11th. Bank of America Corporation lifted their price objective on shares of Toll Brothers from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, June 28th. Finally, Citigroup Inc. lifted their price objective on shares of Toll Brothers from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Toll Brothers presently has an average rating of “Hold” and a consensus price target of $40.67.
Toll Brothers Inc. (NYSE TOL) traded up 0.58% during mid-day trading on Tuesday, hitting $40.18. The stock had a trading volume of 547,145 shares. The firm’s 50-day moving average price is $38.90 and its 200 day moving average price is $37.84. Toll Brothers Inc. has a one year low of $26.65 and a one year high of $41.07. The company has a market cap of $6.36 billion, a PE ratio of 14.98 and a beta of 1.49.
Toll Brothers (NYSE:TOL) last released its quarterly earnings results on Tuesday, August 22nd. The construction company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.19. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Toll Brothers had a return on equity of 10.44% and a net margin of 8.12%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.61 EPS. On average, equities research analysts anticipate that Toll Brothers Inc. will post $3.20 EPS for the current year.
Toll Brothers Company Profile
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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