Cookson Peirce & Co. Inc. Sells 169,076 Shares of Toll Brothers Inc. (NYSE:TOL)

Key Points

• Cookson Peirce & Co. Inc. significantly reduced its stake in Toll Brothers Inc. by selling 169,076 shares, leaving it with just 5,346 shares valued at $564,000.
• Toll Brothers reported earnings of $3.50 per share for the last quarter, exceeding analysts' expectations of $2.86 and showing a 3.5% decline in year-over-year revenue.
• The company declared a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 0.8%.

Cookson Peirce & Co. Inc. lessened its stake in Toll Brothers Inc. (NYSE:TOL - Free Report) by 96.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,346 shares of the construction company's stock after selling 169,076 shares during the period. Cookson Peirce & Co. Inc.'s holdings in Toll Brothers were worth $564,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sound Income Strategies LLC raised its position in Toll Brothers by 84.2% during the 1st quarter. Sound Income Strategies LLC now owns 245 shares of the construction company's stock valued at $26,000 after purchasing an additional 112 shares during the last quarter. Larson Financial Group LLC raised its position in Toll Brothers by 152.6% during the 1st quarter. Larson Financial Group LLC now owns 293 shares of the construction company's stock valued at $31,000 after purchasing an additional 177 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Toll Brothers by 218.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the construction company's stock valued at $38,000 after purchasing an additional 249 shares during the last quarter. Quarry LP raised its position in Toll Brothers by 1,035.7% during the 4th quarter. Quarry LP now owns 318 shares of the construction company's stock valued at $40,000 after purchasing an additional 290 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Toll Brothers by 46.6% during the 4th quarter. Bessemer Group Inc. now owns 327 shares of the construction company's stock valued at $41,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 91.76% of the company's stock.

Toll Brothers Stock Down 1.7%

Shares of NYSE:TOL opened at $131.05 on Friday. Toll Brothers Inc. has a 52-week low of $86.67 and a 52-week high of $169.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.44 and a current ratio of 4.21. The firm has a market capitalization of $12.87 billion, a P/E ratio of 9.72, a P/E/G ratio of 1.39 and a beta of 1.33. The stock has a 50 day moving average price of $117.88 and a 200-day moving average price of $111.60.

Toll Brothers (NYSE:TOL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The construction company reported $3.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.86 by $0.64. Toll Brothers had a return on equity of 17.87% and a net margin of 12.95%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the company earned $3.38 EPS. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. As a group, equities research analysts anticipate that Toll Brothers Inc. will post 13.83 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, July 11th. Toll Brothers's dividend payout ratio (DPR) is 7.42%.

Insider Activity at Toll Brothers

In related news, Director Stephen F. East sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $115.33, for a total transaction of $288,325.00. Following the completion of the transaction, the director owned 12,787 shares of the company's stock, valued at $1,474,724.71. This trade represents a 16.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christine Garvey sold 770 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were 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 of the company's stock, valued at approximately $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 a total of 3,770 shares of company stock valued at $440,586 in the last 90 days. Corporate insiders own 1.54% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group reaffirmed a "buy" rating on shares of Toll Brothers in a research report on Tuesday, May 20th. Wedbush lowered their price target on Toll Brothers from $175.00 to $165.00 and set an "outperform" rating for the company in a research report on Tuesday. Wall Street Zen raised Toll Brothers from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $130.00 price target (down previously from $145.00) on shares of Toll Brothers in a research report on Friday, May 23rd. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $169.00 price target (up previously from $167.00) on shares of Toll Brothers in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $141.46.

Toll Brothers Company 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.

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