VIRGINIA RETIREMENT SYSTEMS ET Al Takes $3.07 Million Position in Toll Brothers Inc. $TOL

Key Points

• Virginia Retirement Systems acquired a new stake in Toll Brothers Inc., purchasing 26,903 shares valued at approximately $3.07 million in Q2.
• Several institutional investors, including Greenhaven Associates and Dimensional Fund Advisors, have also increased their positions, with hedge funds collectively owning 91.76% of Toll Brothers' stock.
• Toll Brothers announced a quarterly dividend of $0.25 per share, representing an annualized yield of 0.7%, with the payment scheduled for October 24.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Toll Brothers Inc. (NYSE:TOL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 26,903 shares of the construction company's stock, valued at approximately $3,070,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TOL. Greenhaven Associates Inc. raised its position in shares of Toll Brothers by 0.7% during the 2nd quarter. Greenhaven Associates Inc. now owns 5,601,916 shares of the construction company's stock worth $639,347,000 after acquiring an additional 39,334 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Toll Brothers by 21.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,159,289 shares of the construction company's stock worth $227,988,000 after acquiring an additional 375,372 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Toll Brothers by 17.1% during the 1st quarter. AQR Capital Management LLC now owns 1,424,689 shares of the construction company's stock worth $146,572,000 after acquiring an additional 208,064 shares in the last quarter. Long Pond Capital LP acquired a new stake in shares of Toll Brothers during the 1st quarter worth about $117,870,000. Finally, Goldman Sachs Group Inc. increased its position in Toll Brothers by 6.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,091,176 shares of the construction company's stock worth $115,217,000 after buying an additional 67,156 shares during the period. Hedge funds and other institutional investors own 91.76% of the company's stock.

Insider Transactions at Toll Brothers

In other news, Director Paul E. Shapiro sold 3,812 shares of Toll Brothers stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $147.65, for a total value of $562,841.80. Following the completion of the transaction, the director owned 118,753 shares in the company, valued at approximately $17,533,880.45. This trade represents a 3.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert Parahus sold 9,831 shares of Toll Brothers stock in a transaction that occurred 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 transaction, the chief operating officer owned 19,692 shares of the company's stock, valued at approximately $2,576,501.28. The trade was a 33.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,643 shares of company stock worth $5,305,630. 1.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TOL has been the topic of several research analyst reports. Raymond James Financial reaffirmed a "strong-buy" rating and set a $160.00 price target (up previously from $130.00) on shares of Toll Brothers in a research report on Monday, August 25th. Weiss Ratings restated a "hold (c+)" rating on shares of Toll Brothers in a research note on Wednesday, October 8th. Seaport Res Ptn upgraded Toll Brothers from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 23rd. Wedbush reiterated an "outperform" rating and set a $165.00 target price on shares of Toll Brothers in a research report on Thursday, September 18th. Finally, Argus upped their price objective on Toll Brothers from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Toll Brothers presently has an average rating of "Moderate Buy" and an average target price of $149.43.

Toll Brothers Stock Performance

Shares of NYSE:TOL opened at $135.75 on Tuesday. The company has a market cap of $13.08 billion, a P/E ratio of 9.97, a PEG ratio of 1.61 and a beta of 1.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.51 and a current ratio of 4.38. Toll Brothers Inc. has a one year low of $86.67 and a one year high of $169.52. The business's 50-day simple moving average is $137.29 and its 200 day simple moving average is $118.95.

Toll Brothers (NYSE:TOL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The construction company reported $3.73 earnings per share for the quarter, beating analysts' consensus estimates of $3.59 by $0.14. Toll Brothers had a return on equity of 17.42% and a net margin of 12.64%.The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same quarter last year, the firm earned $3.60 EPS. Toll Brothers's quarterly revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts forecast that Toll Brothers Inc. will post 13.83 earnings per share for the current fiscal year.

Toll Brothers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, October 10th. Toll Brothers's dividend payout ratio (DPR) is 7.35%.

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.

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