Institute for Wealth Management LLC. Acquires New Holdings in Toll Brothers Inc. (NYSE:TOL)

Institute for Wealth Management LLC. acquired a new stake in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,605 shares of the construction company's stock, valued at approximately $275,000.

Other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC increased its holdings in shares of 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 acquiring an additional 112 shares during the period. Lee Danner & Bass Inc. purchased a new position in Toll Brothers in the fourth quarter valued at about $27,000. Promus Capital LLC purchased a new position in Toll Brothers in the fourth quarter valued at about $29,000. IAG Wealth Partners LLC grew its stake in Toll Brothers by 1,034.8% in the fourth quarter. IAG Wealth Partners LLC now owns 261 shares of the construction company's stock valued at $33,000 after purchasing an additional 238 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Toll Brothers by 34.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 293 shares of the construction company's stock valued at $37,000 after purchasing an additional 75 shares during the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.

Toll Brothers Price Performance

Shares of NYSE TOL opened at $108.54 on Friday. The business's 50 day moving average price is $103.58 and its 200 day moving average price is $114.98. The firm has a market cap of $10.66 billion, a P/E ratio of 8.05, a P/E/G ratio of 1.10 and a beta of 1.35. Toll Brothers Inc. has a 52 week low of $86.67 and a 52 week high of $169.52. The company has a quick ratio of 0.44, a current ratio of 4.21 and a debt-to-equity ratio of 0.35.

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 the consensus estimate of $2.86 by $0.64. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.50 billion. Toll Brothers had a net margin of 12.95% and a return on equity of 17.87%. The business's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.38 EPS. On average, sell-side analysts expect that Toll Brothers Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, July 11th. Toll Brothers's payout ratio is 7.42%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TOL shares. Wedbush reaffirmed an "outperform" rating on shares of Toll Brothers in a research report on Tuesday, May 20th. Royal Bank Of Canada cut their price target on shares of Toll Brothers from $139.00 to $133.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. 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. Raymond James Financial restated a "strong-buy" rating and set a $130.00 target price (down from $145.00) on shares of Toll Brothers in a research note on Friday, May 23rd. Finally, Evercore ISI restated an "outperform" rating and set a $169.00 target price (up from $167.00) on shares of Toll Brothers in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $141.08.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.