Koch Industries Inc. Buys Shares of 1,207,198 Toll Brothers Inc. (TOL)
Koch Industries Inc. bought a new position in Toll Brothers Inc. (NYSE:TOL) during the second quarter, according to its most recent filing with the SEC. The firm bought 1,207,198 shares of the construction company’s stock, valued at approximately $1,177,000. Toll Brothers makes up 0.3% of Koch Industries Inc.’s investment portfolio, making the stock its 23rd largest holding. Koch Industries Inc. owned approximately 0.74% of Toll Brothers at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. NewSquare Capital LLC bought a new position in shares of Toll Brothers in the 2nd quarter worth $101,000. Advisors Asset Management Inc. lifted its holdings in shares of Toll Brothers by 61.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,667 shares of the construction company’s stock worth $105,000 after purchasing an additional 1,017 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Toll Brothers by 369.1% in the 2nd quarter. IFP Advisors Inc now owns 2,735 shares of the construction company’s stock worth $108,000 after purchasing an additional 2,152 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Toll Brothers by 1.8% in the 1st quarter. US Bancorp DE now owns 2,791 shares of the construction company’s stock worth $101,000 after purchasing an additional 49 shares in the last quarter. Finally, Aviance Capital Management LLC bought a new position in shares of Toll Brothers in the 2nd quarter worth $151,000. Institutional investors own 80.69% of the company’s stock.
TOL has been the topic of a number of recent research reports. BidaskClub upgraded Toll Brothers from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Mizuho reiterated a “buy” rating on shares of Toll Brothers in a report on Tuesday, July 11th. Bank of America Corporation increased their target price on Toll Brothers from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, June 28th. Zacks Investment Research upgraded Toll Brothers from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, August 8th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 target price on shares of Toll Brothers in a report on Monday, September 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Toll Brothers presently has an average rating of “Hold” and a consensus price target of $41.00.
Shares of Toll Brothers Inc. (NYSE:TOL) traded down 0.12% during midday trading on Friday, hitting $42.61. The stock had a trading volume of 438,857 shares. Toll Brothers Inc. has a 12 month low of $26.65 and a 12 month high of $43.20. The stock has a market cap of $6.74 billion, a PE ratio of 15.88 and a beta of 1.50. The stock’s 50-day moving average is $40.17 and its 200-day moving average is $38.52.
Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, August 22nd. The construction company reported $0.87 earnings per share 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 for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company earned $0.61 earnings per share. Toll Brothers’s revenue was up 18.3% on a year-over-year basis. Equities analysts anticipate that Toll Brothers Inc. will post $3.19 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, October 12th. Toll Brothers’s dividend payout ratio is 11.90%.
In other Toll Brothers news, Director Carl B. Marbach sold 12,900 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $39.97, for a total value of $515,613.00. Following the transaction, the director now owns 114,149 shares of the company’s stock, valued at $4,562,535.53. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Martin P. Connor sold 2,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $41.45, for a total value of $82,900.00. Following the completion of the transaction, the chief financial officer now directly owns 34,836 shares in the company, valued at approximately $1,443,952.20. The disclosure for this sale can be found here. In the last three months, insiders sold 22,400 shares of company stock worth $882,613. 8.78% of the stock is owned by corporate insiders.
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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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