Raymond James Financial Inc. Has $26.05 Million Stock Holdings in Toll Brothers Inc. $TOL

Key Points

• Raymond James Financial Inc. reduced its stake in Toll Brothers Inc. by 28.7%, holding 246,749 shares worth approximately $26.05 million as of the latest quarter.
• Multiple institutional investors increased their holdings in Toll Brothers, with Victory Capital Management Inc. boosting its stake by 149.5% in the first quarter.
• Toll Brothers recently announced a quarterly dividend of $0.25 per share, representing an annualized yield of 0.7%.

Raymond James Financial Inc. trimmed its holdings in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 28.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 246,749 shares of the construction company's stock after selling 99,541 shares during the period. Raymond James Financial Inc. owned about 0.25% of Toll Brothers worth $26,054,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TOL. Greenhaven Associates Inc. lifted its stake in Toll Brothers by 0.5% in the 1st quarter. Greenhaven Associates Inc. now owns 5,562,582 shares of the construction company's stock valued at $587,353,000 after purchasing an additional 26,079 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 valued at $227,988,000 after purchasing an additional 375,372 shares during the last quarter. AQR Capital Management LLC lifted its stake in Toll Brothers by 24.6% in the 4th quarter. AQR Capital Management LLC now owns 1,216,625 shares of the construction company's stock valued at $153,234,000 after purchasing an additional 239,917 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in Toll Brothers by 24,475.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,114,728 shares of the construction company's stock valued at $140,400,000 after purchasing an additional 1,110,192 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Toll Brothers by 149.5% in the 1st quarter. Victory Capital Management Inc. now owns 974,587 shares of the construction company's stock valued at $102,907,000 after purchasing an additional 583,940 shares during the last quarter. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Toll Brothers

In other news, Director Christine Garvey sold 770 shares of the firm's 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 transaction, the director directly owned 11,590 shares of the company's stock, valued at approximately $1,388,713.80. This trade represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert Parahus sold 9,831 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $130.84, for a total transaction of $1,286,288.04. Following the transaction, the chief operating officer directly owned 19,692 shares in the company, valued at $2,576,501.28. This represents a 33.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,601 shares of company stock valued at $1,726,874 over the last ninety days. Company insiders own 1.54% of the company's stock.

Wall Street Analyst Weigh In

TOL has been the subject of several recent analyst reports. UBS Group reiterated a "buy" rating on shares of Toll Brothers in a research note on Tuesday, May 20th. Oppenheimer cut their target price on shares of Toll Brothers from $165.00 to $155.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. Citigroup raised their target price on shares of Toll Brothers from $134.00 to $138.00 and gave the company a "neutral" rating in a research note on Monday. Raymond James Financial reissued a "strong-buy" rating and issued a $160.00 price target (up from $130.00) on shares of Toll Brothers in a report on Monday. Finally, Wedbush lowered their price target on shares of Toll Brothers from $175.00 to $165.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $145.92.

Toll Brothers Stock Down 0.4%

Toll Brothers stock opened at $138.66 on Tuesday. Toll Brothers Inc. has a twelve month low of $86.67 and a twelve month high of $169.52. The company's 50-day moving average price is $121.27 and its two-hundred day moving average price is $111.25. The stock has a market cap of $13.61 billion, a P/E ratio of 10.19, a P/E/G ratio of 0.91 and a beta of 1.33. The company has a quick ratio of 0.51, a current ratio of 4.38 and a debt-to-equity ratio of 0.36.

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, topping the consensus estimate of $3.59 by $0.14. Toll Brothers had a net margin of 12.64% and a return on equity of 17.42%. The company had revenue of $2.95 billion for the quarter, compared to analysts' expectations of $2.86 billion. During the same period last year, the firm earned $3.60 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, analysts expect that Toll Brothers Inc. will post 13.83 EPS for the current year.

Toll Brothers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. Toll Brothers's dividend payout ratio (DPR) is currently 7.35%.

Toll Brothers Company 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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