Russell Investments Group Ltd. Reduces Stock Position in Toll Brothers Inc. $TOL

Key Points

• Russell Investments Group Ltd. reduced its holdings in Toll Brothers Inc. by 28.8% in Q1, now owning 67,221 shares worth approximately $7.1 million.
• Sound Income Strategies LLC and other hedge funds significantly increased their positions in Toll Brothers, highlighting a growing institutional interest with 91.76% of the stock held by such investors.
• Toll Brothers reported earnings per share of $3.73 for the last quarter, surpassing estimates and reflecting an 8% year-over-year revenue growth, as well as a recent $0.25 quarterly dividend paid to shareholders.

Russell Investments Group Ltd. lowered its holdings in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 28.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,221 shares of the construction company's stock after selling 27,174 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of Toll Brothers worth $7,098,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC lifted its holdings in shares of Toll Brothers by 84.2% in the 1st quarter. Sound Income Strategies LLC now owns 245 shares of the construction company's stock worth $26,000 after buying an additional 112 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Toll Brothers by 152.6% in the 1st quarter. Larson Financial Group LLC now owns 293 shares of the construction company's stock worth $31,000 after buying an additional 177 shares during the period. Quarry LP lifted its holdings in shares of Toll Brothers by 1,035.7% in the 4th quarter. Quarry LP now owns 318 shares of the construction company's stock worth $40,000 after buying an additional 290 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Toll Brothers by 218.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the construction company's stock worth $38,000 after buying an additional 249 shares during the period. Finally, Operose Advisors LLC purchased a new stake in shares of Toll Brothers in the 1st quarter worth $42,000. 91.76% of the stock is currently owned by hedge funds and other institutional investors.

Toll Brothers Trading Up 0.8%

Shares of NYSE:TOL opened at $132.1850 on Wednesday. The business's 50-day moving average is $119.18 and its 200 day moving average is $111.29. Toll Brothers Inc. has a 1 year low of $86.67 and a 1 year high of $169.52. The firm has a market capitalization of $12.98 billion, a P/E ratio of 9.81, a P/E/G ratio of 1.36 and a beta of 1.33. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.21 and a quick ratio of 0.44.

Toll Brothers (NYSE:TOL - Get Free Report) last announced its earnings results on Tuesday, August 19th. The construction company reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.59 by $0.14. Toll Brothers had a return on equity of 17.87% and a net margin of 12.95%.The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same period in the prior year, the company posted $3.60 EPS. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. On average, research analysts predict that Toll Brothers Inc. will post 13.83 earnings per share for the current fiscal year.

Toll Brothers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were issued a $0.25 dividend. 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 0.8%. Toll Brothers's dividend payout ratio is currently 7.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wedbush lowered their target price on Toll Brothers from $175.00 to $165.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Evercore ISI reiterated an "outperform" rating and issued a $169.00 target price (up from $167.00) on shares of Toll Brothers in a report on Thursday, May 22nd. Wells Fargo & Company boosted their price target on Toll Brothers from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday. Raymond James Financial reissued a "strong-buy" rating and issued a $130.00 price target (down from $145.00) on shares of Toll Brothers in a research report on Friday, May 23rd. Finally, Royal Bank Of Canada reduced their price target on Toll Brothers from $139.00 to $133.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Toll Brothers currently has an average rating of "Moderate Buy" and a consensus target price of $142.62.

Insider Activity

In other news, CAO Michael J. Grubb sold 500 shares of the stock in a transaction dated 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 directly owned 2,439 shares of the company's stock, valued at approximately $292,680. This represents a 17.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christine Garvey sold 770 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $119.82, for a total value of $92,261.40. Following the completion of the transaction, the director directly owned 11,590 shares in the company, valued at $1,388,713.80. This represents a 6.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,770 shares of company stock valued at $440,586. Company insiders own 1.54% of the company's stock.

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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