Toll Brothers Inc. $TOL Shares Bought by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC increased its stake in Toll Brothers by 10.2%, acquiring an additional 2,424 shares, which brings their total holdings to 26,100 shares valued at approximately $3.07 million.
• Wall Street analysts are optimistic about Toll Brothers, with multiple firms issuing "outperform" and "strong-buy" ratings, setting price targets ranging from $160 to $169 per share.
• Toll Brothers recently announced a $0.25 quarterly dividend, representing an annualized dividend yield of 0.7%, which will be paid to shareholders on October 24th.

NorthCrest Asset Manangement LLC raised its stake in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 10.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,100 shares of the construction company's stock after acquiring an additional 2,424 shares during the period. NorthCrest Asset Manangement LLC's holdings in Toll Brothers were worth $3,074,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TOL. Trail Ridge Investment Advisors LLC raised its stake in Toll Brothers by 0.5% in the 1st quarter. Trail Ridge Investment Advisors LLC now owns 25,624 shares of the construction company's stock valued at $2,706,000 after acquiring an additional 132 shares during the period. Left Brain Wealth Management LLC bought a new stake in Toll Brothers in the 1st quarter worth approximately $317,000. MQS Management LLC bought a new stake in Toll Brothers in the 1st quarter worth approximately $649,000. Financial Security Advisor Inc. bought a new position in shares of Toll Brothers in the first quarter worth approximately $231,000. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Toll Brothers during the first quarter valued at approximately $227,000. 91.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TOL. Wedbush reissued an "outperform" rating and issued a $165.00 target price on shares of Toll Brothers in a research note on Thursday. Evercore ISI reaffirmed an "outperform" rating and issued a $169.00 price objective (up previously from $167.00) on shares of Toll Brothers in a research note on Thursday, May 22nd. Raymond James Financial reissued a "strong-buy" rating and set a $160.00 target price (up previously from $130.00) on shares of Toll Brothers in a research report on Monday, August 25th. Argus upped their price objective on Toll Brothers from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Finally, Wells Fargo & Company raised their target price on Toll Brothers from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $149.79.

Insider Activity at Toll Brothers

In other news, COO Robert Parahus sold 9,831 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $130.84, for a total value of $1,286,288.04. Following the completion of the sale, the chief operating officer directly owned 19,692 shares of the company's stock, valued at approximately $2,576,501.28. The trade was a 33.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the business's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $138.26, for a total value of $3,456,500.00. Following the completion of the sale, the chief executive officer directly owned 286,117 shares of the company's stock, valued at $39,558,536.42. The trade was a 8.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,413 shares of company stock worth $5,746,216 over the last three months. Company insiders own 1.54% of the company's stock.

Toll Brothers Stock Down 0.2%

TOL stock traded down $0.28 during mid-day trading on Friday, reaching $139.56. The company had a trading volume of 3,055,508 shares, compared to its average volume of 1,626,893. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.51 and a current ratio of 4.38. The company has a market capitalization of $13.45 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 0.92 and a beta of 1.33. The firm has a fifty day simple moving average of $131.63 and a 200 day simple moving average of $114.62. Toll Brothers Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $169.52.

Toll Brothers (NYSE:TOL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The construction company reported $3.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.59 by $0.14. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.86 billion. Toll Brothers had a return on equity of 17.42% and a net margin of 12.64%.Toll Brothers's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.60 EPS. Analysts forecast that Toll Brothers Inc. will post 13.83 earnings per share for the current fiscal year.

Toll Brothers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, October 10th. Toll Brothers's payout ratio is 7.35%.

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.