Toll Brothers Inc. (NYSE:TOL) Shares Sold by Choreo LLC

Key Points

• Choreo LLC has reduced its position in Toll Brothers Inc. by 46.8%, now holding 3,018 shares valued at approximately $319,000.
• In the last three months, insiders sold a total of 3,770 shares worth $440,586, representing a 1.54% ownership by corporate insiders.
• Despite a 3.5% year-over-year decline in revenue, Toll Brothers reported a positive earnings per share (EPS) of $3.50 for the latest quarter, exceeding expectations.

Choreo LLC trimmed its stake in shares of Toll Brothers Inc. (NYSE:TOL - Free Report) by 46.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,018 shares of the construction company's stock after selling 2,659 shares during the quarter. Choreo LLC's holdings in Toll Brothers were worth $319,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in shares of Toll Brothers in the fourth quarter valued at $149,924,000. Balyasny Asset Management L.P. increased its holdings in Toll Brothers by 24,475.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,114,728 shares of the construction company's stock worth $140,400,000 after acquiring an additional 1,110,192 shares during the period. D1 Capital Partners L.P. bought a new position in Toll Brothers in the 4th quarter worth about $106,428,000. Victory Capital Management Inc. raised its stake in Toll Brothers by 149.5% in the first 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 in the last quarter. Finally, Junto Capital Management LP purchased a new stake in shares of Toll Brothers during the 4th quarter valued at $54,929,000. Institutional investors own 91.76% of the company's stock.

Insider Buying and Selling

In other Toll Brothers news, Director Stephen F. East sold 2,500 shares of the company'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 in the company, valued at approximately $1,474,724.71. This represents a 16.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christine Garvey sold 770 shares of the 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 owned 11,590 shares in the company, valued at approximately $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. Insiders have sold 3,770 shares of company stock valued at $440,586 in the last ninety days. 1.54% of the stock is owned by company insiders.

Toll Brothers Stock Up 3.0%

Shares of TOL traded up $3.56 during mid-day trading on Friday, reaching $121.92. The company had a trading volume of 1,672,176 shares, compared to its average volume of 1,801,085. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 1.24 and a beta of 1.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.44 and a current ratio of 4.21. Toll Brothers Inc. has a 52 week low of $86.67 and a 52 week high of $169.52. The firm has a 50-day moving average price of $113.62 and a 200 day moving average price of $112.18.

Toll Brothers (NYSE:TOL - Get Free Report) last released its earnings results on Tuesday, May 20th. The construction company reported $3.50 EPS for the quarter, topping the consensus estimate of $2.86 by $0.64. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.50 billion. Toll Brothers had a net margin of 12.95% and a return on equity of 17.87%. The company's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.38 earnings per share. On average, sell-side 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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, July 11th. Toll Brothers's dividend payout ratio is 7.42%.

Analyst Ratings Changes

TOL has been the subject of several research analyst reports. Wall Street Zen raised Toll Brothers from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Seaport Res Ptn upgraded shares of Toll Brothers from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 23rd. UBS Group reaffirmed a "buy" rating on shares of Toll Brothers in a research note on Tuesday, May 20th. Royal Bank Of Canada dropped their target price on Toll Brothers from $139.00 to $133.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $130.00 target price (down from $145.00) on shares of Toll Brothers in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Toll Brothers currently has an average rating of "Moderate Buy" and a consensus price target of $142.23.

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.