Northern Trust Corp Has $94.78 Million Position in Toll Brothers Inc. $TOL

Key Points

• Northern Trust Corp reduced its position in Toll Brothers Inc. by 1.5%, now holding approximately 0.90% of the company's stock, valued at $94.8 million.
• Several analysts have adjusted their ratings and price targets for Toll Brothers, with Bank of America increasing its price target to $145 and maintaining a "buy" rating.
• The company's recent earnings report showed $3.73 earnings per share, exceeding estimates, and a revenue increase of 8% year-over-year.

Northern Trust Corp lowered its position in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 1.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 897,597 shares of the construction company's stock after selling 13,563 shares during the quarter. Northern Trust Corp owned about 0.90% of Toll Brothers worth $94,777,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TOL. Balyasny Asset Management L.P. grew its holdings in shares of Toll Brothers by 24,475.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,114,728 shares of the construction company's stock worth $140,400,000 after purchasing an additional 1,110,192 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Toll Brothers by 149.5% during the 1st quarter. Victory Capital Management Inc. now owns 974,587 shares of the construction company's stock worth $102,907,000 after purchasing an additional 583,940 shares during the period. Junto Capital Management LP purchased a new position in Toll Brothers in the 4th quarter worth approximately $54,929,000. Dimensional Fund Advisors LP boosted its holdings in Toll Brothers by 21.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,159,289 shares of the construction company's stock worth $227,988,000 after acquiring an additional 375,372 shares during the period. Finally, Shellback Capital LP boosted its holdings in Toll Brothers by 571.9% in the 4th quarter. Shellback Capital LP now owns 360,000 shares of the construction company's stock worth $45,342,000 after acquiring an additional 306,422 shares during the period. Hedge funds and other institutional investors own 91.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank Of Canada upped their target price on Toll Brothers from $133.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Keefe, Bruyette & Woods upped their price target on Toll Brothers from $143.00 to $145.00 and gave the company a "market perform" rating in a research report on Thursday. UBS Group reissued a "buy" rating on shares of Toll Brothers in a research report on Tuesday, May 20th. Barclays reissued an "underweight" rating on shares of Toll Brothers in a research report on Tuesday, May 20th. Finally, Bank of America upped 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. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Toll Brothers presently has an average rating of "Moderate Buy" and an average target price of $147.85.

Toll Brothers Price Performance

TOL stock traded down $0.90 during trading hours on Friday, hitting $137.98. 260,558 shares of the stock traded hands, compared to its average volume of 1,770,923. Toll Brothers Inc. has a one year low of $86.67 and a one year high of $169.52. The company has a market cap of $13.55 billion, a P/E ratio of 10.14, a P/E/G ratio of 0.91 and a beta of 1.33. 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 stock has a 50-day simple moving average of $123.26 and a 200 day simple moving average of $111.72.

Toll Brothers (NYSE:TOL - Get Free Report) last announced its earnings results on Tuesday, August 19th. The construction company reported $3.73 EPS for the quarter, beating the consensus estimate of $3.59 by $0.14. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate 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 was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.60 earnings per share. Equities analysts forecast that Toll Brothers Inc. will post 13.83 earnings per share for the current year.

Toll Brothers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were paid 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 0.7%. Toll Brothers's dividend payout ratio (DPR) is 7.35%.

Insider Transactions at Toll Brothers

In related news, CAO Michael J. Grubb sold 500 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $120.00, for a total value of $60,000.00. Following the transaction, the chief accounting officer owned 2,439 shares in the company, valued at approximately $292,680. This represents a 17.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christine Garvey sold 770 shares of Toll Brothers stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $119.82, for a total transaction of $92,261.40. Following the completion of the sale, the director owned 11,590 shares of the company's stock, valued at $1,388,713.80. This trade represents a 6.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,601 shares of company stock worth $1,726,874. 1.54% of the stock is owned by corporate insiders.

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.