Zimmer Partners LP raised its stake in Toll Brothers Inc. (NYSE:TOL - Free Report) by 43.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 143,550 shares of the construction company's stock after buying an additional 43,550 shares during the quarter. Zimmer Partners LP owned about 0.14% of Toll Brothers worth $15,157,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Sound Income Strategies LLC boosted its holdings 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 acquiring an additional 112 shares during the period. Brooklyn Investment Group increased its position in shares of Toll Brothers by 52.8% in the first quarter. Brooklyn Investment Group now owns 272 shares of the construction company's stock valued at $29,000 after buying an additional 94 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Toll Brothers by 152.6% in the first quarter. Larson Financial Group LLC now owns 293 shares of the construction company's stock valued at $31,000 after buying an additional 177 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Toll Brothers by 218.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the construction company's stock valued at $38,000 after buying an additional 249 shares in the last quarter. Finally, Operose Advisors LLC purchased a new stake in Toll Brothers during the 1st quarter worth about $42,000. 91.76% of the stock is currently owned by hedge funds and other institutional investors.
Toll Brothers Trading Down 2.4%
Shares of Toll Brothers stock traded down $3.47 during trading on Friday, hitting $143.48. 975,257 shares of the company were exchanged, compared to its average volume of 1,781,204. 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 $13.83 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 0.94 and a beta of 1.33. 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 firm's fifty day moving average price is $129.03 and its 200 day moving average price is $113.38.
Toll Brothers (NYSE:TOL - Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The construction company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.59 by $0.14. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.86 billion. Toll Brothers had a return on equity of 17.42% and a net margin of 12.64%.Toll Brothers's revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $3.60 earnings per share. As a group, sell-side analysts expect that Toll Brothers Inc. will post 13.83 earnings per share for the current fiscal year.
Toll Brothers Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, July 11th. Toll Brothers's payout ratio is presently 7.35%.
Insiders Place Their Bets
In related news, Director Paul E. Shapiro sold 3,812 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $147.65, for a total transaction of $562,841.80. Following the completion of the transaction, the director owned 118,753 shares of the company's stock, valued at $17,533,880.45. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert Parahus sold 9,831 shares of Toll Brothers stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $130.84, for a total value of $1,286,288.04. Following the completion of the sale, the chief operating officer directly owned 19,692 shares of the company's stock, valued at $2,576,501.28. The trade was a 33.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,413 shares of company stock worth $5,746,216. 1.54% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on TOL. Keefe, Bruyette & Woods boosted their target price on Toll Brothers from $143.00 to $145.00 and gave the stock a "market perform" rating in a report on Thursday, August 28th. Citigroup upped their price target on Toll Brothers from $134.00 to $138.00 and gave the company a "neutral" rating in a research report on Monday, August 25th. 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. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $160.00 price objective (up previously from $130.00) on shares of Toll Brothers in a research note on Monday, August 25th. Finally, Wedbush reaffirmed an "outperform" rating and set a $165.00 price objective on shares of Toll Brothers in a research note on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.07.
Check Out Our Latest Stock Report on TOL
Toll Brothers Profile
(
Free Report)
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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