Alberta Investment Management Corp Raises Stake in Toll Brothers Inc. (NYSE:TOL)

Key Points

• Alberta Investment Management Corp increased its holdings in Toll Brothers Inc. by 41.9%, acquiring an additional 17,931 shares to reach a total of 60,774 shares.
• Toll Brothers reported a quarterly EPS of $3.50, significantly exceeding analysts' expectations of $2.86, despite a 3.5% decline in year-over-year revenue.
• The company announced a quarterly dividend of $0.25, yielding 0.8%, with a relatively low dividend payout ratio of 7.42% compared to its earnings.

Alberta Investment Management Corp raised its position in Toll Brothers Inc. (NYSE:TOL - Free Report) by 41.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,774 shares of the construction company's stock after acquiring an additional 17,931 shares during the quarter. Alberta Investment Management Corp owned approximately 0.06% of Toll Brothers worth $6,417,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TOL. National Bank of Canada FI increased its holdings in shares of Toll Brothers by 32.0% in the fourth quarter. National Bank of Canada FI now owns 58,078 shares of the construction company's stock valued at $7,315,000 after purchasing an additional 14,080 shares during the last quarter. Geode Capital Management LLC grew its stake in Toll Brothers by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,192,909 shares of the construction company's stock valued at $276,263,000 after buying an additional 35,001 shares during the last quarter. Headlands Technologies LLC raised its holdings in Toll Brothers by 804.5% in the 4th quarter. Headlands Technologies LLC now owns 4,631 shares of the construction company's stock valued at $583,000 after acquiring an additional 4,119 shares during the period. Trexquant Investment LP acquired a new stake in Toll Brothers during the fourth quarter worth approximately $3,617,000. Finally, Huntington National Bank grew its position in shares of Toll Brothers by 61.9% in the fourth quarter. Huntington National Bank now owns 1,153 shares of the construction company's stock valued at $145,000 after purchasing an additional 441 shares during the last quarter. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Toll Brothers news, Director Stephen F. East sold 2,500 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $115.33, for a total value of $288,325.00. Following the completion of the sale, the director directly owned 12,787 shares of the company's stock, valued at $1,474,724.71. This trade represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Christine Garvey sold 770 shares of the business's stock in a transaction on 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 sale, the director owned 11,590 shares in the company, valued at approximately $1,388,713.80. The trade was a 6.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,770 shares of company stock valued at $440,586. Company insiders own 1.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Evercore ISI reissued an "outperform" rating and set a $169.00 price target (up previously from $167.00) on shares of Toll Brothers in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods dropped their price target on Toll Brothers from $132.00 to $120.00 and set a "market perform" rating for the company in a research note on Tuesday, May 20th. Wedbush reiterated an "outperform" rating on shares of Toll Brothers in a research report on Tuesday, May 20th. Barclays reiterated an "underweight" rating on shares of Toll Brothers in a research report on Tuesday, May 20th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $130.00 target price (down from $145.00) on shares of Toll Brothers in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $142.23.

Toll Brothers Stock Up 2.6%

Shares of TOL stock traded up $3.21 on Tuesday, hitting $128.20. The stock had a trading volume of 429,976 shares, compared to its average volume of 1,786,286. Toll Brothers Inc. has a 12-month low of $86.67 and a 12-month high of $169.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.21 and a quick ratio of 0.44. The business has a 50 day moving average of $113.97 and a 200 day moving average of $111.81. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 1.27 and a beta of 1.33.

Toll Brothers (NYSE:TOL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The construction company reported $3.50 EPS for the quarter, topping analysts' consensus estimates of $2.86 by $0.64. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.50 billion. Toll Brothers had a return on equity of 17.87% and a net margin of 12.95%. Toll Brothers's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company posted $3.38 earnings per share. As a group, analysts expect that Toll Brothers Inc. will post 13.83 EPS for the current year.

Toll Brothers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.00 annualized dividend and a yield of 0.8%. Toll Brothers's payout ratio is currently 7.42%.

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.