Assenagon Asset Management S.A. Purchases 2,297 Shares of Toll Brothers Inc. $TOL

Key Points

• Assenagon Asset Management S.A. increased its stake in Toll Brothers Inc. by 10.5%, purchasing an additional 2,297 shares during the second quarter, bringing its total holdings to 24,271 shares valued at approximately $2.77 million.
• Insider selling was notable, with COO Robert Parahus selling 9,831 shares and CEO Douglas C. Jr. Yearley selling 25,000 shares, resulting in ownership decreases of 33.30% and 8.04% respectively.
• Toll Brothers announced a quarterly dividend of $0.25, to be paid on October 24th, with an annualized yield of 0.7% and a payout ratio of 7.35%.

Assenagon Asset Management S.A. grew its position in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 10.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,271 shares of the construction company's stock after buying an additional 2,297 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Toll Brothers were worth $2,770,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TOL. Two Sigma Investments LP bought a new stake in Toll Brothers during the fourth quarter worth about $1,108,000. Vise Technologies Inc. grew its stake in Toll Brothers by 18.8% during the fourth quarter. Vise Technologies Inc. now owns 1,773 shares of the construction company's stock worth $223,000 after buying an additional 280 shares during the last quarter. Toronto Dominion Bank grew its stake in Toll Brothers by 60.2% during the fourth quarter. Toronto Dominion Bank now owns 5,122 shares of the construction company's stock worth $645,000 after buying an additional 1,925 shares during the last quarter. Jefferies Financial Group Inc. grew its stake in Toll Brothers by 59.4% during the fourth quarter. Jefferies Financial Group Inc. now owns 7,790 shares of the construction company's stock worth $981,000 after buying an additional 2,903 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Toll Brothers during the fourth quarter worth about $6,289,000. 91.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Toll Brothers news, COO Robert Parahus sold 9,831 shares of the stock in a transaction on 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 sale, the chief operating officer directly owned 19,692 shares in the company, valued at approximately $2,576,501.28. This trade represents a 33.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the 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 approximately $39,558,536.42. This trade represents a 8.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,413 shares of company stock valued at $5,746,216. 1.54% of the stock is owned by company insiders.

Toll Brothers Trading Down 1.6%

Shares of NYSE TOL opened at $134.98 on Friday. The company's 50 day simple moving average is $133.18 and its 200 day simple moving average is $115.35. 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 firm has a market capitalization of $13.01 billion, a P/E ratio of 9.92, a P/E/G ratio of 1.63 and a beta of 1.33. Toll Brothers Inc. has a fifty-two week low of $86.67 and a fifty-two 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 the consensus estimate of $3.59 by $0.14. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.86 billion. Toll Brothers had a net margin of 12.64% and a return on equity of 17.42%. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $3.60 earnings per share. On average, analysts predict that Toll Brothers Inc. will post 13.83 EPS for the current year.

Toll Brothers Announces Dividend

The company 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 $0.25 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.00 annualized dividend and a yield of 0.7%. Toll Brothers's dividend payout ratio (DPR) is 7.35%.

Wall Street Analyst Weigh In

Several research firms have recently commented on TOL. Royal Bank Of Canada increased their price target on shares of Toll Brothers from $133.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Citigroup increased their price target on shares of Toll Brothers from $134.00 to $138.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. Argus increased their price target on shares of Toll Brothers from $150.00 to $165.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Wells Fargo & Company increased their price target on shares of Toll Brothers from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Finally, Bank of America increased their price target on shares of Toll Brothers from $150.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $149.79.

About Toll Brothers

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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