Annex Advisory Services LLC Sells 2,642 Shares of Toll Brothers Inc. $TOL

Key Points

• Annex Advisory Services LLC reduced its stake in Toll Brothers Inc. by 5.6%, selling 2,642 shares and retaining 44,495 shares worth approximately $5.08 million.
• A variety of hedge funds, including Dimensional Fund Advisors LP and Goldman Sachs Group Inc., increased their holdings in Toll Brothers, demonstrating strong institutional interest.
• Research analysts have upgraded their ratings and target prices for Toll Brothers, with an average target now set at $149.79 and a "Moderate Buy" rating consensus.

Annex Advisory Services LLC trimmed its holdings in Toll Brothers Inc. (NYSE:TOL - Free Report) by 5.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,495 shares of the construction company's stock after selling 2,642 shares during the quarter. Annex Advisory Services LLC's holdings in Toll Brothers were worth $5,078,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in Toll Brothers by 6.5% during the second quarter. Farther Finance Advisors LLC now owns 1,485 shares of the construction company's stock worth $169,000 after purchasing an additional 90 shares during the period. Brooklyn Investment Group lifted its holdings in Toll Brothers by 52.8% during the first quarter. Brooklyn Investment Group now owns 272 shares of the construction company's stock worth $29,000 after acquiring an additional 94 shares during the period. KLP Kapitalforvaltning AS raised its stake in shares of Toll Brothers by 0.4% during the 1st quarter. KLP Kapitalforvaltning AS now owns 24,800 shares of the construction company's stock valued at $2,619,000 after purchasing an additional 100 shares during the period. J.Safra Asset Management Corp grew its position in Toll Brothers by 6.7% during the first quarter. J.Safra Asset Management Corp now owns 1,706 shares of the construction company's stock worth $180,000 after buying an additional 107 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its holdings in shares of Toll Brothers by 5.5% in the 1st quarter. Meeder Advisory Services Inc. now owns 2,094 shares of the construction company's stock worth $221,000 after purchasing an additional 109 shares in the last quarter. 91.76% of the stock is owned by institutional investors.

Toll Brothers Price Performance

Shares of TOL stock traded down $0.25 during midday trading on Tuesday, reaching $135.97. 515,935 shares of the company were exchanged, compared to its average volume of 1,780,559. Toll Brothers Inc. has a 12 month low of $86.67 and a 12 month high of $169.52. The company has a market cap of $13.10 billion, a P/E ratio of 9.98, a PEG ratio of 1.66 and a beta of 1.33. The company's 50 day moving average price is $131.97 and its two-hundred day moving average price is $114.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.51 and a current ratio of 4.38.

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

Toll Brothers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be given 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 presently 7.35%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TOL shares. Argus increased their target price on Toll Brothers from $150.00 to $165.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Wedbush reissued an "outperform" rating and set a $165.00 price target on shares of Toll Brothers in a report on Thursday, September 18th. Seaport Res Ptn upgraded Toll Brothers from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 23rd. Raymond James Financial reaffirmed a "strong-buy" rating and set a $160.00 price target (up previously from $130.00) on shares of Toll Brothers in a research note on Monday, August 25th. Finally, Bank of America boosted their price objective on shares of Toll Brothers from $150.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $149.79.

Insider Activity at Toll Brothers

In other news, CEO Douglas C. Jr. Yearley sold 25,000 shares of Toll Brothers 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 of the company's stock, valued at approximately $39,558,536.42. This trade represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert Parahus sold 9,831 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $130.84, for a total value of $1,286,288.04. Following the completion of the transaction, the chief operating officer directly owned 19,692 shares of the company's stock, valued at approximately $2,576,501.28. This trade represents a 33.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,413 shares of company stock worth $5,746,216. 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.