Deltec Asset Management LLC Takes $1.14 Million Position in Toll Brothers Inc. $TOL

Key Points

• Deltec Asset Management LLC has acquired a $1.14 million position in Toll Brothers Inc. by purchasing 10,000 shares, as disclosed in their recent 13F filing with the SEC.
• Toll Brothers reported $3.73 earnings per share for the last quarter, surpassing analysts' estimates and achieving an 8.0% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.25 per share to be paid on October 24th, providing an annual yield of 0.7%.

Deltec Asset Management LLC bought a new stake in Toll Brothers Inc. (NYSE:TOL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,000 shares of the construction company's stock, valued at approximately $1,141,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Trail Ridge Investment Advisors LLC lifted its position in Toll Brothers by 0.5% during the first quarter. Trail Ridge Investment Advisors LLC now owns 25,624 shares of the construction company's stock worth $2,706,000 after buying an additional 132 shares in the last quarter. Left Brain Wealth Management LLC acquired a new stake in Toll Brothers during the first quarter worth $317,000. MQS Management LLC acquired a new stake in Toll Brothers during the first quarter worth $649,000. Financial Security Advisor Inc. acquired a new stake in Toll Brothers during the first quarter worth $231,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in Toll Brothers during the first quarter worth $227,000. Hedge funds and other institutional investors own 91.76% of the company's stock.

Toll Brothers Stock Down 0.2%

Shares of TOL opened at $138.00 on Wednesday. The company has a 50-day simple moving average of $134.25 and a 200-day simple moving average of $116.10. The firm has a market capitalization of $13.30 billion, a P/E ratio of 10.14, a P/E/G ratio of 1.64 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 Inc. has a 52 week low of $86.67 and a 52 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, beating analysts' consensus estimates of $3.59 by $0.14. The business had revenue of $2.95 billion for the quarter, compared to analysts' expectations of $2.86 billion. Toll Brothers had a net margin of 12.64% and a return on equity of 17.42%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.60 earnings per share. On average, equities research analysts expect that Toll Brothers Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, October 10th. Toll Brothers's dividend payout ratio is currently 7.35%.

Insider Activity

In other news, CEO Douglas C. Jr. Yearley sold 25,000 shares of the company's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $138.26, for a total transaction of $3,456,500.00. Following the transaction, the chief executive officer directly owned 286,117 shares in the company, valued at approximately $39,558,536.42. This represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christine Garvey sold 770 shares of the company'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 transaction of $92,261.40. Following the transaction, the director owned 11,590 shares in the company, valued at $1,388,713.80. The trade was a 6.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 42,413 shares of company stock valued at $5,746,216. Corporate insiders own 1.54% of the company's stock.

Analyst Upgrades and Downgrades

TOL has been the subject of a number of research reports. Wedbush reaffirmed an "outperform" rating and issued a $165.00 price objective on shares of Toll Brothers in a research note on Thursday, September 18th. Citigroup boosted their target price on Toll Brothers from $134.00 to $138.00 and gave the company a "neutral" rating in a report on Monday, August 25th. Royal Bank Of Canada boosted their target price on Toll Brothers from $133.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Keefe, Bruyette & Woods upped their price objective on Toll Brothers from $143.00 to $145.00 and gave the company a "market perform" rating in a research note on Thursday, August 28th. Finally, Argus upped their price objective on Toll Brothers from $150.00 to $165.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $149.79.

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.

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