Brandywine Global Investment Management LLC Has $26.85 Million Stake in Toll Brothers Inc. (TOL)
Brandywine Global Investment Management LLC decreased its position in shares of Toll Brothers Inc. (NYSE:TOL) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 679,455 shares of the construction company’s stock after selling 18,253 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.42% of Toll Brothers worth $26,846,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in TOL. BlackRock Inc. boosted its holdings in shares of Toll Brothers by 7,882.3% during the first quarter. BlackRock Inc. now owns 16,520,268 shares of the construction company’s stock valued at $596,546,000 after acquiring an additional 16,313,307 shares during the period. FMR LLC boosted its holdings in shares of Toll Brothers by 34.9% during the first quarter. FMR LLC now owns 7,975,533 shares of the construction company’s stock valued at $287,997,000 after acquiring an additional 2,065,250 shares during the period. Capital Growth Management LP boosted its holdings in shares of Toll Brothers by 110.7% during the first quarter. Capital Growth Management LP now owns 2,950,000 shares of the construction company’s stock valued at $106,524,000 after acquiring an additional 1,550,000 shares during the period. Systematic Financial Management LP acquired a new position in shares of Toll Brothers during the first quarter valued at $46,928,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Toll Brothers by 7.2% during the first quarter. Vanguard Group Inc. now owns 12,216,855 shares of the construction company’s stock valued at $441,150,000 after acquiring an additional 815,737 shares during the period. 80.69% of the stock is owned by institutional investors.
Shares of Toll Brothers Inc. (NYSE:TOL) traded up 0.42% during midday trading on Thursday, reaching $40.41. 189,366 shares of the company’s stock traded hands. Toll Brothers Inc. has a 52-week low of $26.65 and a 52-week high of $41.07. The firm has a market capitalization of $6.40 billion, a P/E ratio of 15.06 and a beta of 1.49. The stock’s 50 day moving average price is $38.95 and its 200 day moving average price is $37.88.
Toll Brothers (NYSE:TOL) last posted its quarterly earnings results on Tuesday, August 22nd. The construction company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.19. The business had revenue of $1.50 billion for 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 firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.61 earnings per share. On average, equities research analysts anticipate that Toll Brothers Inc. will post $3.19 EPS for the current fiscal year.
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Several equities analysts have recently issued reports on the stock. Mizuho reissued a “buy” rating on shares of Toll Brothers in a report on Tuesday, July 11th. Barclays PLC downgraded shares of Toll Brothers from an “equal weight” rating to an “underweight” rating and set a $37.00 price target for the company. in a report on Tuesday, July 11th. BidaskClub upgraded shares of Toll Brothers from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. KeyCorp restated a “hold” rating on shares of Toll Brothers in a research note on Tuesday. Finally, J P Morgan Chase & Co cut shares of Toll Brothers from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $41.00 to $45.00 in a research note on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $40.67.
In related news, CEO Douglas C. Jr. Yearley sold 5,500 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $39.78, for a total value of $218,790.00. Following the transaction, the chief executive officer now owns 180,527 shares in the company, valued at $7,181,364.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carl B. Marbach sold 12,900 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $39.97, for a total value of $515,613.00. Following the completion of the transaction, the director now owns 114,149 shares in the company, valued at approximately $4,562,535.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,055 shares of company stock worth $1,265,271. 8.78% of the stock is owned by company 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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