Toll Brothers Inc. $TOL Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. has reduced its holdings in Toll Brothers Inc. by 13.1% to 708,000 shares, valued at approximately $74.76 million, according to its recent SEC filing.
• Toll Brothers has reported a quarterly EPS of $3.73, exceeding analysts' expectations and reflecting an 8.0% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.25 per share, resulting in an annualized yield of 0.7% and a dividend payout ratio of 7.35%.

Adage Capital Partners GP L.L.C. lowered its stake in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 708,000 shares of the construction company's stock after selling 107,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.71% of Toll Brothers worth $74,758,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Sound Income Strategies LLC increased its holdings in shares of Toll Brothers by 84.2% during the first quarter. Sound Income Strategies LLC now owns 245 shares of the construction company's stock valued at $26,000 after acquiring an additional 112 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of Toll Brothers by 52.8% during the first quarter. Brooklyn Investment Group now owns 272 shares of the construction company's stock valued at $29,000 after acquiring an additional 94 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Toll Brothers by 152.6% during the first quarter. Larson Financial Group LLC now owns 293 shares of the construction company's stock valued at $31,000 after acquiring an additional 177 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Toll Brothers by 218.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the construction company's stock worth $38,000 after buying an additional 249 shares during the period. Finally, Operose Advisors LLC acquired a new position in Toll Brothers in the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 91.76% of the company's stock.

Insiders Place Their Bets

In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 25,000 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $138.26, for a total value of $3,456,500.00. Following the completion of the sale, the chief executive officer directly owned 286,117 shares of the company's stock, valued at $39,558,536.42. This trade represents a 8.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michael J. Grubb sold 500 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $120.00, for a total value of $60,000.00. Following the sale, the chief accounting officer directly owned 2,439 shares of the company's stock, valued at $292,680. The trade was a 17.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,601 shares of company stock worth $5,183,374. 1.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TOL. Royal Bank Of Canada increased their price target on shares of Toll Brothers from $133.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Wedbush reiterated an "outperform" rating and issued a $165.00 price target on shares of Toll Brothers in a report on Friday. Argus upped their price objective on Toll Brothers from $150.00 to $165.00 and gave the stock a "buy" rating in a research report on Friday. Keefe, Bruyette & Woods upped their price objective on Toll Brothers from $143.00 to $145.00 and gave the stock a "market perform" rating in a research report on Thursday, August 28th. Finally, Citigroup upped their price objective on Toll Brothers from $134.00 to $138.00 and gave the stock a "neutral" rating in a research report on Monday, August 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $149.07.

Toll Brothers Price Performance

NYSE TOL traded up $1.83 during mid-day trading on Friday, hitting $147.24. The stock had a trading volume of 2,739,985 shares, compared to its average volume of 1,683,980. The firm's 50 day moving average is $126.77 and its 200 day moving average is $112.47. Toll Brothers Inc. has a twelve month low of $86.67 and a twelve month high of $169.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.38 and a quick ratio of 0.51. The stock has a market capitalization of $14.19 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 0.96 and a beta of 1.33.

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

Toll Brothers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. Toll Brothers's dividend payout ratio (DPR) is 7.35%.

Toll Brothers 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.