Bank of New York Mellon Corp Lowers Stock Position in Toll Brothers Inc. $TOL

Bank of New York Mellon Corp decreased its position in Toll Brothers Inc. (NYSE:TOL) by 4.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,001,416 shares of the construction company’s stock after selling 46,673 shares during the period. Bank of New York Mellon Corp owned about 1.02% of Toll Brothers worth $114,292,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Long Pond Capital LP purchased a new position in shares of Toll Brothers in the 1st quarter valued at about $117,870,000. Victory Capital Management Inc. grew its holdings in Toll Brothers by 149.5% in the first quarter. Victory Capital Management Inc. now owns 974,587 shares of the construction company’s stock valued at $102,907,000 after purchasing an additional 583,940 shares during the period. Dimensional Fund Advisors LP grew its holdings in Toll Brothers by 21.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,159,289 shares of the construction company’s stock valued at $227,988,000 after purchasing an additional 375,372 shares during the period. Ceredex Value Advisors LLC purchased a new stake in shares of Toll Brothers in the first quarter valued at approximately $28,720,000. Finally, Amundi raised its stake in shares of Toll Brothers by 429.1% during the 1st quarter. Amundi now owns 316,888 shares of the construction company’s stock worth $31,179,000 after buying an additional 256,996 shares during the period. 91.76% of the stock is owned by hedge funds and other institutional investors.

Toll Brothers Trading Up 0.6%

Shares of TOL opened at $133.43 on Friday. Toll Brothers Inc. has a 52-week low of $86.67 and a 52-week high of $169.52. The stock has a market cap of $12.86 billion, a PE ratio of 9.80, a price-to-earnings-growth ratio of 1.60 and a beta of 1.37. The firm’s fifty day moving average is $137.58 and its two-hundred day moving average is $122.86. The company has a quick ratio of 0.51, a current ratio of 4.38 and a debt-to-equity ratio of 0.36.

Toll Brothers (NYSE:TOL) last issued its earnings results on Tuesday, August 19th. The construction company reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.59 by $0.14. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Toll Brothers had a net margin of 12.64% and a return on equity of 17.42%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.60 earnings per share. Research analysts forecast that Toll Brothers Inc. will post 13.83 earnings per share for the current fiscal year.

Toll Brothers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 10th were issued a $0.25 dividend. The ex-dividend date was Friday, October 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. Toll Brothers’s dividend payout ratio is presently 7.35%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TOL. Bank of America decreased their target price on Toll Brothers from $155.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, October 10th. Wells Fargo & Company upped their price objective on shares of Toll Brothers from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Argus increased their price objective on shares of Toll Brothers from $150.00 to $165.00 and gave the company a “buy” rating in a report on Friday, September 5th. Wedbush reissued an “outperform” rating and set a $165.00 target price on shares of Toll Brothers in a research note on Thursday, September 18th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $160.00 price target (up previously from $130.00) on shares of Toll Brothers in a research report on Monday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $149.43.

Insiders Place Their Bets

In other news, COO Robert Parahus sold 9,831 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $130.84, for a total transaction of $1,286,288.04. Following the transaction, the chief operating officer directly owned 19,692 shares in the company, valued at $2,576,501.28. The trade was a 33.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul E. Shapiro sold 3,812 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $147.65, for a total value of $562,841.80. Following the completion of the sale, the director owned 118,753 shares of the company’s stock, valued at $17,533,880.45. This trade represents a 3.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 38,643 shares of company stock valued at $5,305,630 in the last ninety days. 1.54% of the stock is currently owned by corporate insiders.

Toll Brothers Company Profile

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for a range of detached and attached homes in luxury residential communities in the United States. It designs, builds, markets, and sells condominiums through Toll Brothers City Living. The company also develops a range of single-story living and first-floor primary bedroom suite home designs, as well as communities with recreational amenities, such as golf courses, marinas, pool complexes, country clubs, and fitness and recreation centers; and develops, operates, and rents apartments.