Shariaportfolio Inc. Acquires 7,776 Shares of Toll Brothers Inc. $TOL

Key Points

• Shariaportfolio Inc. increased its stake in Toll Brothers Inc. by 39.5%, acquiring an additional 7,776 shares, which now represents about 1.3% of its total holdings.
• Toll Brothers recently reported earnings of $3.73 per share for the last quarter, exceeding analysts' expectations, along with a revenue increase of 8.0% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, with an ex-dividend date set for October 10th, offering an annualized yield of 0.8%.

Shariaportfolio Inc. grew its position in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 39.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,479 shares of the construction company's stock after purchasing an additional 7,776 shares during the period. Toll Brothers comprises about 1.3% of Shariaportfolio Inc.'s holdings, making the stock its 11th largest holding. Shariaportfolio Inc.'s holdings in Toll Brothers were worth $3,136,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC lifted its stake in Toll Brothers by 84.2% during the first quarter. Sound Income Strategies LLC now owns 245 shares of the construction company's stock worth $26,000 after purchasing an additional 112 shares during the last quarter. Brooklyn Investment Group lifted its stake in Toll Brothers by 52.8% during the first quarter. Brooklyn Investment Group now owns 272 shares of the construction company's stock worth $29,000 after purchasing an additional 94 shares during the last quarter. Larson Financial Group LLC lifted its stake in Toll Brothers by 152.6% during the first quarter. Larson Financial Group LLC now owns 293 shares of the construction company's stock worth $31,000 after purchasing an additional 177 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Toll Brothers by 128.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 324 shares of the construction company's stock worth $37,000 after purchasing an additional 182 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Toll Brothers by 218.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the construction company's stock worth $38,000 after purchasing an additional 249 shares during the last quarter. Institutional investors own 91.76% of the company's stock.

Toll Brothers Stock Down 5.6%

Shares of NYSE:TOL opened at $132.86 on Wednesday. Toll Brothers Inc. has a 1 year low of $86.67 and a 1 year high of $169.52. The company has a market cap of $12.81 billion, a PE ratio of 9.76, a P/E/G ratio of 1.67 and a beta of 1.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.38 and a quick ratio of 0.51. The stock's 50-day moving average is $135.79 and its 200 day moving average is $117.25.

Toll Brothers (NYSE:TOL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The construction company reported $3.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.59 by $0.14. Toll Brothers had a return on equity of 17.42% and a net margin of 12.64%.The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the previous year, the business earned $3.60 EPS. Toll Brothers's revenue was up 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Toll Brothers Inc. will post 13.83 EPS for the current year.

Toll Brothers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, October 10th. Toll Brothers's payout ratio is currently 7.35%.

Analyst Ratings Changes

TOL has been the subject of several research analyst reports. Citigroup lifted their price target on Toll Brothers from $138.00 to $147.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 1st. Evercore ISI reaffirmed an "in-line" rating and set a $160.00 price target (down previously from $169.00) on shares of Toll Brothers in a research note on Tuesday. Wells Fargo & Company lifted their price target on Toll Brothers from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Wedbush reiterated an "outperform" rating and issued a $165.00 price objective on shares of Toll Brothers in a report on Thursday, September 18th. Finally, Bank of America lifted their price objective on Toll Brothers from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $149.79.

Insider Activity at Toll Brothers

In related news, CEO Douglas C. Jr. Yearley sold 25,000 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $138.26, for a total transaction of $3,456,500.00. Following the transaction, the chief executive officer owned 286,117 shares in the company, valued at $39,558,536.42. The trade was a 8.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert Parahus sold 9,831 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $130.84, for a total value of $1,286,288.04. Following the transaction, the chief operating officer owned 19,692 shares in the company, valued at approximately $2,576,501.28. This represents a 33.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,413 shares of company stock worth $5,746,216 over the last 90 days. 1.54% of the stock is owned by 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.

Want to see what other hedge funds are holding TOL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Toll Brothers Inc. (NYSE:TOL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.