Toll Brothers Inc. $TOL Shares Sold by Hager Investment Management Services LLC

Key Points

• Hager Investment Management Services LLC reduced its stake in Toll Brothers by 29.9% in Q2, selling 4,853 shares, leaving it with 11,356 shares valued at approximately $1,296,000.
• Toll Brothers reported a quarterly EPS of $3.73, outperforming estimates and showing an 8% year-over-year revenue increase to $2.95 billion.
• The company recently announced a quarterly dividend of $0.25 per share, reflecting an annualized yield of 0.8%, with the dividend payout ratio currently at 7.35%.

Hager Investment Management Services LLC cut its stake in Toll Brothers Inc. (NYSE:TOL - Free Report) by 29.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,356 shares of the construction company's stock after selling 4,853 shares during the period. Hager Investment Management Services LLC's holdings in Toll Brothers were worth $1,296,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC grew 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 worth $26,000 after purchasing an additional 112 shares in the last quarter. Brooklyn Investment Group grew its stake 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 worth $29,000 after purchasing an additional 94 shares in the last quarter. Larson Financial Group LLC grew its stake 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 worth $31,000 after purchasing an additional 177 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Toll Brothers by 128.2% in 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 in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake 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 worth $38,000 after purchasing an additional 249 shares in the last quarter. 91.76% of the stock is owned by institutional investors and hedge funds.

Toll Brothers Stock Down 0.6%

TOL opened at $132.05 on Thursday. Toll Brothers Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $169.52. The business has a 50-day moving average of $136.05 and a 200-day moving average of $117.35. 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 company has a market capitalization of $12.73 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 1.58 and a beta of 1.40.

Toll Brothers (NYSE:TOL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The construction company reported $3.73 EPS for the quarter, beating analysts' consensus estimates 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%.The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.60 EPS. Equities research analysts forecast that Toll Brothers Inc. will post 13.83 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TOL. Citigroup increased 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. Royal Bank Of Canada increased their price target on Toll Brothers from $133.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Wells Fargo & Company upped their price objective on Toll Brothers from $140.00 to $150.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Argus upped their price objective on Toll Brothers from $150.00 to $165.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, Evercore ISI restated an "in-line" rating and issued a $160.00 price objective (down previously from $169.00) on shares of Toll Brothers in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $149.79.

Insider Buying and Selling at Toll Brothers

In other news, COO Robert Parahus sold 9,831 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $130.84, for a total transaction of $1,286,288.04. Following the transaction, the chief operating officer owned 19,692 shares of the company's stock, valued at approximately $2,576,501.28. This represents a 33.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christine Garvey sold 770 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $119.82, for a total value of $92,261.40. Following the transaction, the director directly owned 11,590 shares in the company, valued at approximately $1,388,713.80. This represents a 6.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,413 shares of company stock worth $5,746,216 in the last 90 days. Company insiders own 1.54% of the company's stock.

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.