Long Pond Capital LP Acquires Shares of 1,116,300 Toll Brothers Inc. $TOL

Key Points

• Long Pond Capital LP has acquired 1,116,300 shares of Toll Brothers Inc., valued at approximately $117.87 million, making it the second largest holding in their portfolio at about 7.7%.
• In recent transactions, insiders sold a total of 13,601 shares valued at over $1.7 million, indicating a decrease in their ownership stakes.
• Toll Brothers recently reported a quarterly revenue of $2.95 billion, surpassing analyst expectations, with earnings per share of $3.73 for the quarter.

Long Pond Capital LP acquired a new stake in Toll Brothers Inc. (NYSE:TOL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,116,300 shares of the construction company's stock, valued at approximately $117,870,000. Toll Brothers accounts for approximately 7.7% of Long Pond Capital LP's portfolio, making the stock its 2nd biggest holding. Long Pond Capital LP owned about 1.12% of Toll Brothers at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TOL. Brooklyn Investment Group raised its position in Toll Brothers by 52.8% in the 1st quarter. Brooklyn Investment Group now owns 272 shares of the construction company's stock valued at $29,000 after purchasing an additional 94 shares during the last quarter. NewEdge Advisors LLC increased 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 purchasing an additional 100 shares during the period. KLP Kapitalforvaltning AS raised its holdings in shares of Toll Brothers by 0.4% in the first quarter. KLP Kapitalforvaltning AS now owns 24,800 shares of the construction company's stock valued at $2,619,000 after buying an additional 100 shares during the last quarter. J.Safra Asset Management Corp raised its holdings in shares of 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 buying an additional 107 shares during the last quarter. Finally, Meeder Advisory Services Inc. boosted its stake in shares of Toll Brothers by 5.5% during the first quarter. Meeder Advisory Services Inc. now owns 2,094 shares of the construction company's stock worth $221,000 after buying an additional 109 shares during the period. 91.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Toll Brothers

In other news, Director Stephen F. East sold 2,500 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $115.33, for a total value of $288,325.00. Following the sale, the director directly owned 12,787 shares in the company, valued at $1,474,724.71. This represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael J. Grubb sold 500 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $120.00, for a total transaction of $60,000.00. Following the transaction, the chief accounting officer directly owned 2,439 shares of the company's stock, 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. Over the last 90 days, insiders have sold 13,601 shares of company stock valued at $1,726,874. Insiders own 1.54% of the company's stock.

Toll Brothers Stock Up 5.8%

TOL stock opened at $139.2170 on Monday. The company has a current ratio of 4.38, a quick ratio of 0.51 and a debt-to-equity ratio of 0.36. The company's 50-day moving average price is $120.67 and its 200 day moving average price is $111.15. Toll Brothers Inc. has a 52 week low of $86.67 and a 52 week high of $169.52. The company 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.

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 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 company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same quarter in the prior year, the company earned $3.60 earnings per share. Toll Brothers's revenue was up 8.0% compared to the same quarter last year. On average, research analysts expect that Toll Brothers Inc. will post 13.83 earnings per share for the current fiscal year.

Toll Brothers Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis 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%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TOL. Bank of America boosted their price target on Toll Brothers from $132.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, August 19th. Evercore ISI reissued 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. Raymond James Financial restated a "strong-buy" rating and set a $130.00 price target (down previously from $145.00) on shares of Toll Brothers in a research note on Friday, May 23rd. Oppenheimer lowered their price objective on shares of Toll Brothers from $165.00 to $155.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Finally, Wall Street Zen upgraded shares of Toll Brothers from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Toll Brothers presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.54.

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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