Amundi Raises Stock Holdings in Toll Brothers Inc. $TOL

Key Points

• Amundi increased its Toll Brothers stake by 138.4% in the second quarter, holding 174,655 shares valued at approximately $28.8 million. Institutional investors collectively own 91.76% of the homebuilder.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $167.27; recent targets range from $122 to $191.
• Toll Brothers exceeded quarterly earnings and revenue estimates, reporting $2.97 in EPS and $2.66 billion in revenue, though revenue fell 9.7% year over year. The company also pays a quarterly dividend of $0.26, for an annualized yield of about 0.8%.

Amundi grew its position in Toll Brothers Inc. (NYSE:TOL - Free Report) by 138.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 174,655 shares of the construction company's stock after buying an additional 101,405 shares during the quarter. Amundi owned 0.19% of Toll Brothers worth $28,774,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. California State Teachers Retirement System grew its stake in Toll Brothers by 16,116.7% during the 2nd quarter. California State Teachers Retirement System now owns 17,926,118 shares of the construction company's stock worth $2,953,328,000 after buying an additional 17,815,577 shares during the last quarter. BlackRock Inc. acquired a new stake in Toll Brothers in the second quarter worth about $1,610,696,000. Price T Rowe Associates Inc. MD grew its position in Toll Brothers by 2,067.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,303,915 shares of the construction company's stock worth $446,756,000 after purchasing an additional 3,151,509 shares during the last quarter. Norges Bank purchased a new stake in Toll Brothers during the 4th quarter worth approximately $168,312,000. Finally, Bamco Inc. NY acquired a new position in Toll Brothers during the 2nd quarter valued at approximately $166,250,000. Institutional investors own 91.76% of the company's stock.

Insider Transactions at Toll Brothers

In related news, COO Robert Parahus sold 7,500 shares of the company's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $149.66, for a total transaction of $1,122,450.00. Following the completion of the sale, the chief operating officer owned 23,457 shares of the company's stock, valued at approximately $3,510,574.62. This represents a 24.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $156.58, for a total transaction of $12,206,507.06. Following the completion of the sale, the chairman owned 321,256 shares of the company's stock, valued at approximately $50,302,264.48. The trade was a 19.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TOL. Citigroup boosted their price target on Toll Brothers from $176.00 to $179.00 and gave the company a "buy" rating in a research note on Friday, August 21st. Barclays boosted their price objective on Toll Brothers from $115.00 to $122.00 and gave the company an "underweight" rating in a report on Tuesday, July 14th. Argus set a $170.00 target price on Toll Brothers in a research note on Tuesday, June 2nd. Evercore reiterated an "outperform" rating and set a $191.00 price target on shares of Toll Brothers in a research report on Thursday, August 20th. Finally, Keefe, Bruyette & Woods boosted their price target on Toll Brothers from $161.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, August 28th. Thirteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $167.27.

Toll Brothers Stock Performance

NYSE TOL opened at $134.88 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.53 and a quick ratio of 0.55. The stock's 50 day simple moving average is $147.41 and its 200-day simple moving average is $144.78. The company has a market cap of $12.43 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.07 and a beta of 1.34. Toll Brothers Inc. has a 1-year low of $123.14 and a 1-year high of $168.36.

Toll Brothers (NYSE:TOL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 18th. The construction company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.93 by $0.04. The firm had revenue of $2.66 billion during the quarter, compared to analysts' expectations of $2.62 billion. Toll Brothers had a return on equity of 14.21% and a net margin of 11.14%.The firm's revenue for the quarter was down 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.73 earnings per share. As a group, equities research analysts anticipate that Toll Brothers Inc. will post 12.81 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, July 10th. Toll Brothers's dividend payout ratio is 8.35%.

Toll Brothers Profile

Toll Brothers, Inc is a luxury homebuilding company that designs, constructs, markets and sells residential properties in the United States. The company develops communities featuring single-family detached homes, townhomes and condominiums, as well as active-adult communities and urban high-rise residences. Its offerings generally target move-up, luxury and resort-style homebuyers, with homes available in a range of designs, locations and customization options.

Through related operations, Toll Brothers also provides mortgage financing, title and settlement services, homeowners insurance and other services that support the home purchase process.

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