Allianz Asset Management GmbH Sells 147,471 Shares of Toll Brothers Inc. $TOL

Key Points

• Allianz Asset Management GmbH sold 147,471 shares of Toll Brothers Inc., reducing its stake by 41.9% to 204,224 shares, valued at approximately $23.3 million.
• Toll Brothers reported earnings of $3.73 per share for the last quarter, beating expectations, and showed an 8.0% increase in revenue year-over-year, reaching $2.95 billion.
• The company announced a $0.25 quarterly dividend, payable on October 24th, reflecting a 0.7% yield and a dividend payout ratio of 7.35%.

Allianz Asset Management GmbH decreased its holdings in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 41.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 204,224 shares of the construction company's stock after selling 147,471 shares during the quarter. Allianz Asset Management GmbH owned 0.21% of Toll Brothers worth $23,308,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Greenhaven Associates Inc. grew its stake in shares of Toll Brothers by 0.7% during the second quarter. Greenhaven Associates Inc. now owns 5,601,916 shares of the construction company's stock valued at $639,347,000 after buying an additional 39,334 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Toll Brothers by 21.0% during 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 buying an additional 375,372 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Toll Brothers by 17.1% during the first quarter. AQR Capital Management LLC now owns 1,424,689 shares of the construction company's stock valued at $146,572,000 after buying an additional 208,064 shares during the last quarter. Long Pond Capital LP bought a new position in shares of Toll Brothers during the first quarter valued at approximately $117,870,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Toll Brothers by 6.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,091,176 shares of the construction company's stock valued at $115,217,000 after buying an additional 67,156 shares during the last quarter. Institutional investors own 91.76% of the company's stock.

Toll Brothers Stock Up 1.0%

Shares of NYSE TOL opened at $135.75 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.51 and a current ratio of 4.38. The firm has a market capitalization of $13.08 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 1.61 and a beta of 1.40. The stock has a 50 day moving average price of $137.06 and a 200 day moving average price of $118.71. Toll Brothers Inc. has a 52-week low of $86.67 and a 52-week high of $169.52.

Toll Brothers (NYSE:TOL - Get Free Report) last posted its earnings results on Tuesday, August 19th. The construction company reported $3.73 earnings per share for the quarter, topping analysts' consensus estimates of $3.59 by $0.14. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.86 billion. Toll Brothers had a return on equity of 17.42% and a net margin of 12.64%.Toll Brothers's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.60 earnings per share. Sell-side analysts expect that Toll Brothers Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be issued a dividend of $0.25 per share. The ex-dividend date is 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 currently 7.35%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TOL. Raymond James Financial reaffirmed a "strong-buy" rating and set a $160.00 target price (up previously from $130.00) on shares of Toll Brothers in a research note on Monday, August 25th. Citigroup upped their target price on Toll Brothers from $138.00 to $147.00 and gave the company a "neutral" rating in a research note on Wednesday, October 1st. Royal Bank Of Canada upped their target price on Toll Brothers from $133.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Argus boosted their price target on Toll Brothers from $150.00 to $165.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, Keefe, Bruyette & Woods boosted their price target on Toll Brothers from $143.00 to $145.00 and gave the company a "market perform" rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $149.43.

Insiders Place Their Bets

In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 25,000 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $138.26, for a total transaction of $3,456,500.00. Following the completion of the sale, the chief executive officer owned 286,117 shares in the company, valued at $39,558,536.42. This represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert Parahus sold 9,831 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $130.84, for a total value of $1,286,288.04. Following the sale, the chief operating officer owned 19,692 shares of the company's stock, valued at approximately $2,576,501.28. This represents a 33.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,643 shares of company stock worth $5,305,630 over the last 90 days. Company insiders own 1.54% of the company's stock.

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.

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