Comerica Bank Sells 103,592 Shares of Toll Brothers Inc. $TOL

Key Points

• Comerica Bank has reduced its holdings in Toll Brothers Inc. by 70.8%, selling 103,592 shares, and now owns only 42,667 shares valued at approximately $4.5 million.
• Several hedge funds have increased their stakes in Toll Brothers, with Mitsubishi UFJ Asset Management boosting its position by 218.4% during the same quarter.
• Insider trades include the CAO selling 500 shares for $60,000 and a director selling 770 shares for over $92,000, indicating a reduction in their ownership stakes.

Comerica Bank lessened its position in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 70.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,667 shares of the construction company's stock after selling 103,592 shares during the quarter. Comerica Bank's holdings in Toll Brothers were worth $4,505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group boosted its stake in Toll Brothers by 52.8% in the 1st quarter. Brooklyn Investment Group now owns 272 shares of the construction company's stock valued at $29,000 after buying an additional 94 shares in the last quarter. KLP Kapitalforvaltning AS boosted its stake in Toll Brothers by 0.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 24,800 shares of the construction company's stock valued at $2,619,000 after buying an additional 100 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in Toll Brothers by 6.7% in the 1st quarter. J.Safra Asset Management Corp now owns 1,706 shares of the construction company's stock valued at $180,000 after buying an additional 107 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in Toll Brothers by 5.5% in the 1st quarter. Meeder Advisory Services Inc. now owns 2,094 shares of the construction company's stock valued at $221,000 after buying an additional 109 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its stake in Toll Brothers by 84.2% in the 1st quarter. Sound Income Strategies LLC now owns 245 shares of the construction company's stock valued at $26,000 after buying an additional 112 shares in the last quarter. Institutional investors and hedge funds own 91.76% of the company's stock.

Toll Brothers Stock Down 0.5%

Toll Brothers stock traded down $0.70 during midday trading on Tuesday, reaching $138.30. The stock had a trading volume of 1,380,640 shares, compared to its average volume of 1,774,392. The firm's fifty day simple moving average is $124.40 and its 200-day simple moving average is $111.77. Toll Brothers Inc. has a 1-year low of $86.67 and a 1-year high of $169.52. The stock has a market capitalization of $13.33 billion, a P/E ratio of 10.16, a price-to-earnings-growth ratio of 0.91 and a beta of 1.33. 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 posted its quarterly 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 firm had revenue of $2.95 billion for 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%.The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.60 EPS. As a group, analysts expect that Toll Brothers Inc. will post 13.83 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. Toll Brothers's payout ratio is 7.35%.

Insider Buying and Selling

In other Toll Brothers news, COO Robert Parahus sold 9,831 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $130.84, for a total transaction of $1,286,288.04. Following the transaction, the chief operating officer owned 19,692 shares of the company's stock, valued at $2,576,501.28. The trade was a 33.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christine Garvey sold 770 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $119.82, for a total value of $92,261.40. Following the transaction, the director directly owned 11,590 shares in the company, valued at $1,388,713.80. This trade represents a 6.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,601 shares of company stock worth $1,726,874 over the last 90 days. Company insiders own 1.54% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Royal Bank Of Canada boosted their price target on Toll Brothers from $133.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. UBS Group reissued a "buy" rating on shares of Toll Brothers in a research note on Tuesday, May 20th. Bank of America boosted their price objective on Toll Brothers from $132.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, August 19th. Keefe, Bruyette & Woods boosted their price objective on Toll Brothers from $143.00 to $145.00 and gave the stock a "market perform" rating in a research note on Thursday, August 28th. Finally, Oppenheimer cut their price target on Toll Brothers from $165.00 to $155.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $147.85.

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.