Kingsview Wealth Management LLC Raises Stake in Toll Brothers Inc. (NYSE:TOL)

Kingsview Wealth Management LLC lifted its position in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 1,536.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,871 shares of the construction company's stock after purchasing an additional 78,746 shares during the period. Kingsview Wealth Management LLC owned about 0.08% of Toll Brothers worth $8,856,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TOL. Insigneo Advisory Services LLC increased its holdings in Toll Brothers by 4.7% in the fourth quarter. Insigneo Advisory Services LLC now owns 1,990 shares of the construction company's stock worth $251,000 after purchasing an additional 89 shares in the last quarter. Peapack Gladstone Financial Corp grew its stake in Toll Brothers by 5.9% in the fourth quarter. Peapack Gladstone Financial Corp now owns 1,800 shares of the construction company's stock valued at $227,000 after acquiring an additional 100 shares during the period. NewEdge Advisors LLC grew its stake in Toll Brothers by 1.7% in the fourth quarter. NewEdge Advisors LLC now owns 6,051 shares of the construction company's stock valued at $762,000 after acquiring an additional 100 shares during the period. Bessemer Group Inc. grew its stake in Toll Brothers by 46.6% in the fourth quarter. Bessemer Group Inc. now owns 327 shares of the construction company's stock valued at $41,000 after acquiring an additional 104 shares during the period. Finally, J.Safra Asset Management Corp grew its stake in Toll Brothers by 6.7% in the first quarter. J.Safra Asset Management Corp now owns 1,706 shares of the construction company's stock valued at $180,000 after acquiring an additional 107 shares during the period. 91.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TOL. Evercore ISI restated an "outperform" rating and issued a $169.00 target price (up previously from $167.00) on shares of Toll Brothers in a report on Thursday, May 22nd. Barclays reissued an "underweight" rating on shares of Toll Brothers in a report on Tuesday, May 20th. Royal Bank Of Canada reduced their price objective on Toll Brothers from $139.00 to $133.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Keefe, Bruyette & Woods dropped their target price on Toll Brothers from $132.00 to $120.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 20th. Finally, Wall Street Zen upgraded Toll Brothers from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $141.85.

Toll Brothers Price Performance

Toll Brothers stock traded down $0.60 during mid-day trading on Friday, reaching $116.88. 886,784 shares of the company's stock traded hands, compared to its average volume of 1,614,197. The company has a market cap of $11.48 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 1.22 and a beta of 1.36. The stock has a 50 day moving average of $110.44 and a two-hundred day moving average of $112.45. 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 Inc. has a 12-month low of $86.67 and a 12-month high of $169.52.

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. The business had revenue of $2.74 billion for the quarter, compared to analysts' expectations 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 was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.38 earnings per share. Equities analysts forecast that Toll Brothers Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a yield of 0.86%. Toll Brothers's dividend payout ratio is currently 7.42%.

Insiders Place Their Bets

In other news, Director Christine Garvey sold 770 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $119.82, for a total value of $92,261.40. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Michael J. Grubb sold 500 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $120.00, for a total value of $60,000.00. Following the sale, the chief accounting officer directly owned 2,439 shares in the company, valued at approximately $292,680. This trade represents a 17.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,770 shares of company stock worth $440,586 over the last 90 days. Company insiders own 1.54% of the company's stock.

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.