Toll Brothers Inc. $TOL Shares Sold by Shellback Capital LP

Key Points

• Shellback Capital LP has significantly reduced its stake in Toll Brothers, from 360,000 shares to 50,000 shares, representing an 86.1% decrease in ownership during the first quarter.
• Toll Brothers recently reported a quarterly earnings per share of $3.73, surpassing analyst estimates and showcasing an 8.0% year-over-year revenue growth.
• Multiple institutional investors have increased their stakes in Toll Brothers, with 91.76% of the company's stock now owned by institutions and hedge funds.

Shellback Capital LP cut its position in Toll Brothers Inc. (NYSE:TOL - Free Report) by 86.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,000 shares of the construction company's stock after selling 310,000 shares during the quarter. Shellback Capital LP owned 0.05% of Toll Brothers worth $5,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC boosted its stake in shares of Toll Brothers by 84.2% in 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 during the period. Brooklyn Investment Group boosted its stake in Toll Brothers by 52.8% during the 1st 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 last quarter. Larson Financial Group LLC boosted its stake in Toll Brothers by 152.6% during the 1st 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 last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Toll Brothers by 218.4% during the 1st 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 last quarter. Finally, Operose Advisors LLC bought a new position in Toll Brothers during the 1st quarter valued at $42,000. 91.76% of the stock is currently owned by hedge funds and other institutional investors.

Toll Brothers Stock Performance

Shares of NYSE:TOL traded up $3.86 on Thursday, reaching $147.06. 1,034,736 shares of the company's stock were exchanged, compared to its average volume of 1,782,908. The firm has a market capitalization of $14.17 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 0.95 and a beta of 1.33. Toll Brothers Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $169.52. The business's 50-day moving average is $128.43 and its two-hundred day moving average is $113.13. 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 issued its earnings results 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 analysts' expectations of $2.86 billion. Toll Brothers had a net margin of 12.64% and a return on equity of 17.42%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.60 earnings per share. As a group, equities research analysts forecast that Toll Brothers Inc. will post 13.83 EPS for the current year.

Toll Brothers Announces Dividend

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

Insiders Place Their Bets

In related news, Director Stephen F. East sold 2,500 shares of the 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 sale, the director owned 12,787 shares of the company's stock, valued at $1,474,724.71. This trade represents a 16.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the 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 completion of the sale, the chief executive officer directly owned 286,117 shares in the company, valued at approximately $39,558,536.42. This trade represents a 8.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,413 shares of company stock worth $5,746,216. 1.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Argus increased their price objective on shares of Toll Brothers from $150.00 to $165.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Citigroup increased their price objective on shares of Toll Brothers from $134.00 to $138.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. Bank of America increased their price objective on shares of Toll Brothers from $132.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, August 19th. Oppenheimer reduced their price objective on shares of Toll Brothers from $165.00 to $155.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Finally, Barclays reiterated an "underweight" rating on shares of Toll Brothers in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Toll Brothers has a consensus rating of "Moderate Buy" and an average target price of $149.07.

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.