Pallas Capital Advisors LLC Increases Stock Holdings in Toll Brothers Inc. $TOL

Key Points

• Pallas Capital Advisors LLC significantly increased its stake in Toll Brothers Inc. by 352.7% during the second quarter, owning 21,501 shares valued at approximately $2.45 million.
• Insider trading activity included Director Paul E. Shapiro selling 3,812 shares for over $562,000, decreasing his ownership by 3.11%.
• Toll Brothers recently announced a quarterly dividend of $0.25 per share, with shareholders of record set to be paid on October 24th.

Pallas Capital Advisors LLC increased its holdings in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 352.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,501 shares of the construction company's stock after purchasing an additional 16,752 shares during the quarter. Pallas Capital Advisors LLC's holdings in Toll Brothers were worth $2,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings 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 in the last quarter. Brooklyn Investment Group lifted its holdings in Toll Brothers by 52.8% in the first quarter. Brooklyn Investment Group now owns 272 shares of the construction company's stock valued at $29,000 after acquiring an additional 94 shares during the period. Larson Financial Group LLC lifted its holdings in Toll Brothers by 152.6% in the first quarter. Larson Financial Group LLC now owns 293 shares of the construction company's stock valued at $31,000 after acquiring an additional 177 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Toll Brothers by 128.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 324 shares of the construction company's stock valued at $37,000 after acquiring an additional 182 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Toll Brothers by 218.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the construction company's stock valued at $38,000 after acquiring an additional 249 shares during the period. 91.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Bank of America raised their price objective on Toll Brothers from $150.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday. Argus raised 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. Seaport Res Ptn raised Toll Brothers from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods raised their price objective on Toll Brothers from $143.00 to $145.00 and gave the stock a "market perform" rating in a research note on Thursday, August 28th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $160.00 price objective (up previously from $130.00) on shares of Toll Brothers in a research note on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $149.79.

Toll Brothers Price Performance

Shares of NYSE:TOL traded down $0.28 during trading on Friday, hitting $139.56. 3,055,508 shares of the company's stock were exchanged, compared to its average volume of 1,785,973. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.38 and a quick ratio of 0.51. Toll Brothers Inc. has a 52-week low of $86.67 and a 52-week high of $169.52. The business's 50-day simple moving average is $131.26 and its 200 day simple moving average is $114.40. The company has a market cap of $13.45 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.92 and a beta of 1.33.

Toll Brothers (NYSE:TOL - Get Free Report) last released its earnings results on Tuesday, August 19th. The construction company reported $3.73 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.95 billion during the quarter, compared to analysts' expectations of $2.86 billion. During the same quarter last year, the business posted $3.60 earnings per share. The firm's revenue was up 8.0% on a year-over-year basis. As a group, equities analysts predict that Toll Brothers Inc. will post 13.83 EPS for the current year.

Toll Brothers Announces Dividend

The company 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 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, October 10th. Toll Brothers's dividend payout ratio (DPR) is currently 7.35%.

Insider Buying and Selling at Toll Brothers

In other Toll Brothers news, Director Paul E. Shapiro sold 3,812 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $147.65, for a total transaction of $562,841.80. Following the completion of the transaction, the director owned 118,753 shares in the company, valued at $17,533,880.45. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephen F. East sold 2,500 shares of the firm's 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 transaction, the director owned 12,787 shares of the company's stock, valued at $1,474,724.71. This represents a 16.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,413 shares of company stock worth $5,746,216 over the last three months. 1.54% of the stock is owned by company insiders.

About Toll Brothers

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.