HighTower Advisors LLC Cuts Stake in Toll Brothers Inc. $TOL

Key Points

• HighTower Advisors LLC reduced its stake in Toll Brothers Inc. by 10.7%, leaving it with 33,116 shares valued at approximately $3.50 million.
• Toll Brothers reported earnings of $3.73 per share, topping analyst expectations, and a revenue increase of 8.0% year-over-year, reaching $2.95 billion.
• The company also declared a quarterly dividend of $0.25 per share, reflecting a 0.8% dividend yield and a payout ratio of 7.42%.

HighTower Advisors LLC trimmed its holdings in Toll Brothers Inc. (NYSE:TOL - Free Report) by 10.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 33,116 shares of the construction company's stock after selling 3,958 shares during the quarter. HighTower Advisors LLC's holdings in Toll Brothers were worth $3,497,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Sound Income Strategies LLC boosted its position in Toll Brothers by 84.2% during the first 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 during the period. Larson Financial Group LLC lifted its stake in shares of Toll Brothers by 152.6% in the 1st quarter. Larson Financial Group LLC now owns 293 shares of the construction company's stock valued at $31,000 after acquiring an additional 177 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Toll Brothers by 218.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the construction company's stock valued at $38,000 after acquiring an additional 249 shares during the last quarter. Quarry LP boosted its holdings 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 acquiring an additional 290 shares during the period. Finally, Operose Advisors LLC bought a new position in Toll Brothers during the 1st quarter worth approximately $42,000. Institutional investors own 91.76% of the company's stock.

Insider Transactions at Toll Brothers

In related news, Director Christine Garvey sold 770 shares of Toll Brothers stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $119.82, for a total transaction of $92,261.40. Following the completion of the transaction, the director directly owned 11,590 shares of the company's stock, valued at $1,388,713.80. This trade represents a 6.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Michael J. Grubb sold 500 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $120.00, for a total transaction of $60,000.00. Following the sale, the chief accounting officer directly owned 2,439 shares in the company, valued at $292,680. The trade was a 17.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,601 shares of company stock worth $1,726,874 in the last ninety days. 1.54% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on TOL shares. Barclays reissued an "underweight" rating on shares of Toll Brothers in a research note on Tuesday, May 20th. Bank of America increased their price target on shares of Toll Brothers from $132.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, August 19th. Oppenheimer cut their price target on shares of Toll Brothers from $165.00 to $155.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. Wedbush lowered their price objective on shares of Toll Brothers from $175.00 to $165.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Toll Brothers from $132.00 to $120.00 and set a "market perform" rating for the company in a report on Tuesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Toll Brothers presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.54.

Toll Brothers Trading Up 5.8%

Shares of NYSE TOL traded up $7.6370 during midday trading on Friday, hitting $139.2170. 2,902,576 shares of the company traded hands, compared to its average volume of 1,534,636. Toll Brothers Inc. has a 12-month low of $86.67 and a 12-month high of $169.52. The firm has a market cap of $13.67 billion, a P/E ratio of 10.23, a P/E/G ratio of 0.91 and a beta of 1.33. The stock has a 50-day moving average price of $120.67 and a 200 day moving average price of $111.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.44 and a current ratio of 4.38.

Toll Brothers (NYSE:TOL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The construction company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.59 by $0.14. Toll Brothers had a return on equity of 17.42% and a net margin of 12.64%.The business had revenue of $2.95 billion for the quarter, compared to analysts' expectations of $2.86 billion. During the same period in the previous year, the firm posted $3.60 EPS. The business's revenue was up 8.0% on a year-over-year basis. As a group, analysts expect that Toll Brothers Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Dividend Announcement

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

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.