National Bank of Canada FI Lowers Stock Holdings in Toll Brothers Inc. (NYSE:TOL)

Key Points

• National Bank of Canada FI reduced its stake in Toll Brothers Inc. by 36.9% in the first quarter, now holding 36,652 shares valued at approximately $3.87 million.
• Toll Brothers reported a net earnings per share of $3.50 for the last quarter, exceeding estimates by $0.64, although revenue declined by 3.5% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, reflecting an annual dividend yield of 0.8%, with a current payout ratio of 7.42%.

National Bank of Canada FI cut its stake in Toll Brothers Inc. (NYSE:TOL - Free Report) by 36.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,652 shares of the construction company's stock after selling 21,426 shares during the period. National Bank of Canada FI's holdings in Toll Brothers were worth $3,871,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sound Income Strategies LLC lifted its holdings in shares of 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 purchasing an additional 112 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Toll Brothers by 152.6% during the first quarter. Larson Financial Group LLC now owns 293 shares of the construction company's stock valued at $31,000 after purchasing an additional 177 shares during the last quarter. Quarry LP lifted its holdings in shares of Toll Brothers by 1,035.7% during the fourth quarter. Quarry LP now owns 318 shares of the construction company's stock valued at $40,000 after purchasing an additional 290 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Toll Brothers by 46.6% during the fourth quarter. Bessemer Group Inc. now owns 327 shares of the construction company's stock valued at $41,000 after purchasing an additional 104 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Toll Brothers by 218.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the construction company's stock valued at $38,000 after purchasing an additional 249 shares during the last quarter. 91.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Stephen F. East sold 2,500 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $115.33, for a total transaction of $288,325.00. Following the completion of the sale, the director owned 12,787 shares of the company's stock, valued at $1,474,724.71. The trade was a 16.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Michael J. Grubb sold 500 shares of the business's stock in a transaction on Monday, July 14th. The shares were 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 of the company's stock, valued at approximately $292,680. The trade was a 17.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,770 shares of company stock valued at $440,586 in the last 90 days. Company insiders own 1.54% of the company's stock.

Toll Brothers Stock Performance

NYSE:TOL traded down $0.47 during trading hours on Friday, reaching $130.54. The company had a trading volume of 1,542,174 shares, compared to its average volume of 1,388,403. The company has a current ratio of 4.21, a quick ratio of 0.44 and a debt-to-equity ratio of 0.35. Toll Brothers Inc. has a 52 week low of $86.67 and a 52 week high of $169.52. The firm has a market cap of $12.82 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 1.36 and a beta of 1.33. The firm's 50 day moving average price is $118.34 and its 200-day moving average price is $111.38.

Toll Brothers (NYSE:TOL - Get Free Report) last posted its earnings results on Tuesday, May 20th. The construction company reported $3.50 EPS for the quarter, topping analysts' consensus estimates of $2.86 by $0.64. Toll Brothers had a net margin of 12.95% and a return on equity of 17.87%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the firm posted $3.38 EPS. The firm's revenue was down 3.5% on a year-over-year basis. On average, analysts forecast that Toll Brothers Inc. will post 13.83 EPS for the current year.

Toll Brothers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Toll Brothers's payout ratio is presently 7.42%.

Analyst Ratings Changes

TOL has been the subject of several recent research reports. Seaport Res Ptn upgraded shares of Toll Brothers from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Wells Fargo & Company boosted their price objective on shares of Toll Brothers from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Barclays restated an "underweight" rating on shares of Toll Brothers in a report on Tuesday, May 20th. Raymond James Financial restated a "strong-buy" rating and issued a $130.00 price objective (down from $145.00) on shares of Toll Brothers in a report on Friday, May 23rd. Finally, Royal Bank Of Canada decreased their price objective on shares of Toll Brothers from $139.00 to $133.00 and set an "outperform" rating for the company in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Toll Brothers currently has a consensus rating of "Moderate Buy" and an average target price of $141.46.

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.