Assenagon Asset Management S.A. Raises Position in Toll Brothers, Inc. (NYSE:TOL)

Assenagon Asset Management S.A. grew its holdings in shares of Toll Brothers, Inc. (NYSE:TOL - Free Report) by 56.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,974 shares of the construction company's stock after purchasing an additional 7,908 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Toll Brothers were worth $2,320,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TOL. Handelsbanken Fonder AB increased its position in shares of Toll Brothers by 423.1% during the first quarter. Handelsbanken Fonder AB now owns 136,000 shares of the construction company's stock worth $14,360,000 after acquiring an additional 110,000 shares during the last quarter. Pallas Capital Advisors LLC boosted its position in shares of Toll Brothers by 90.7% during the first quarter. Pallas Capital Advisors LLC now owns 4,749 shares of the construction company's stock worth $501,000 after buying an additional 2,259 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Toll Brothers by 60.3% during the first quarter. Farther Finance Advisors LLC now owns 1,395 shares of the construction company's stock worth $147,000 after buying an additional 525 shares during the period. Wedge Capital Management L L P NC boosted its position in shares of Toll Brothers by 44.5% during the first quarter. Wedge Capital Management L L P NC now owns 39,826 shares of the construction company's stock worth $4,205,000 after buying an additional 12,271 shares during the period. Finally, UMB Bank n.a. lifted its position in Toll Brothers by 83.0% in the first quarter. UMB Bank n.a. now owns 950 shares of the construction company's stock worth $100,000 after purchasing an additional 431 shares during the period. Hedge funds and other institutional investors own 91.76% of the company's stock.

Toll Brothers Price Performance

TOL opened at $108.45 on Tuesday. Toll Brothers, Inc. has a one year low of $86.67 and a one year high of $169.52. The stock has a market capitalization of $10.65 billion, a P/E ratio of 7.46, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.65 and a quick ratio of 0.80. The company's 50 day simple moving average is $102.64 and its 200-day simple moving average is $115.91.

Toll Brothers (NYSE:TOL - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The construction company reported $3.50 EPS for the quarter, beating analysts' consensus estimates of $2.86 by $0.64. The business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.50 billion. Toll Brothers had a net margin of 14.03% and a return on equity of 18.32%. The firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.38 EPS. Sell-side analysts anticipate that Toll Brothers, Inc. will post 13.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TOL. Royal Bank of Canada cut their target price on Toll Brothers from $139.00 to $133.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Evercore ISI restated an "outperform" rating and issued a $169.00 target price (up from $167.00) on shares of Toll Brothers in a research report on Thursday, May 22nd. Oppenheimer cut their target price on Toll Brothers from $165.00 to $155.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. UBS Group restated a "buy" rating on shares of Toll Brothers in a research report on Tuesday, May 20th. Finally, The Goldman Sachs Group dropped their price target on Toll Brothers from $143.00 to $125.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $141.08.

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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