OLD National Bancorp IN Invests $3.52 Million in Toll Brothers Inc. $TOL

Key Points

• OLD National Bancorp IN has invested approximately $3.52 million in Toll Brothers Inc., acquiring 30,879 shares during the second quarter.
• The company reported a quarterly EPS of $3.73, exceeding analysts' expectations, with revenues of $2.95 billion for the quarter, up 8% compared to the previous year.
• Toll Brothers declared a quarterly dividend of $0.25 per share, with an annualized yield of 0.7%, scheduled for payment on October 24th.

OLD National Bancorp IN purchased a new stake in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 30,879 shares of the construction company's stock, valued at approximately $3,524,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quent Capital LLC lifted its position in shares of Toll Brothers by 9.5% during the 2nd quarter. Quent Capital LLC now owns 1,863 shares of the construction company's stock valued at $213,000 after buying an additional 161 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Toll Brothers by 2.0% during the second quarter. QRG Capital Management Inc. now owns 31,278 shares of the construction company's stock valued at $3,570,000 after purchasing an additional 610 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Toll Brothers by 188.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 266,771 shares of the construction company's stock valued at $30,447,000 after purchasing an additional 174,226 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of Toll Brothers during the second quarter worth about $120,000. Finally, Hilltop National Bank purchased a new stake in shares of Toll Brothers during the second quarter worth about $932,000. 91.76% of the stock is currently owned by hedge funds and other institutional investors.

Toll Brothers Price Performance

NYSE:TOL opened at $142.80 on Monday. Toll Brothers Inc. has a one year low of $86.67 and a one year high of $169.52. The stock has a market cap of $13.76 billion, a PE ratio of 10.49, a P/E/G ratio of 1.69 and a beta of 1.40. 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 stock has a 50 day moving average price of $135.25 and a 200 day moving average price of $116.89.

Toll Brothers (NYSE:TOL - Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The construction company reported $3.73 earnings per share for the quarter, topping 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%.The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 earnings per share. Equities research analysts expect that Toll Brothers Inc. will post 13.83 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, October 10th. Toll Brothers's dividend payout ratio (DPR) is presently 7.35%.

Analysts Set New Price Targets

TOL has been the topic of a number of research reports. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $160.00 price target (up from $130.00) on shares of Toll Brothers in a research note on Monday, August 25th. Wells Fargo & Company increased their target price on Toll Brothers from $140.00 to $150.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Royal Bank Of Canada lifted their price target on Toll Brothers from $133.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Wedbush reiterated an "outperform" rating and set a $165.00 price target on shares of Toll Brothers in a research report on Thursday, September 18th. Finally, Keefe, Bruyette & Woods raised their price objective on Toll Brothers from $143.00 to $145.00 and gave the company a "market perform" rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Toll Brothers presently has a consensus rating of "Moderate Buy" and a consensus price target of $150.43.

Insider Activity at Toll Brothers

In other Toll Brothers news, Director Stephen F. East sold 2,500 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $115.33, for a total value of $288,325.00. Following the transaction, the director directly owned 12,787 shares in the company, valued at $1,474,724.71. The trade was a 16.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Robert Parahus sold 9,831 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $130.84, for a total transaction 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. This trade represents a 33.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,413 shares of company stock valued at $5,746,216 over the last ninety days. Corporate 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.

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