Wedge Capital Management L L P NC Buys 6,674 Shares of Toll Brothers Inc. $TOL

Key Points

• Wedge Capital Management increased its stake in Toll Brothers Inc. by 16.8%, owning 46,500 shares valued at $5.3 million as of the latest SEC filing.
• Analysts have set positive price targets for Toll Brothers, with ranges from $145 to $165, reflecting a consensus rating of "Moderate Buy."
• Toll Brothers announced a quarterly dividend of $0.25 per share, equating to an annualized dividend of $1.00 and a yield of 0.7%, with the ex-dividend date on October 10th.

Wedge Capital Management L L P NC boosted its stake in Toll Brothers Inc. (NYSE:TOL - Free Report) by 16.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,500 shares of the construction company's stock after acquiring an additional 6,674 shares during the quarter. Wedge Capital Management L L P NC's holdings in Toll Brothers were worth $5,307,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TOL. Sound Income Strategies LLC lifted its position in Toll Brothers by 84.2% in the 1st 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 in the last quarter. Brooklyn Investment Group lifted its position in Toll Brothers by 52.8% in the 1st quarter. Brooklyn Investment Group now owns 272 shares of the construction company's stock valued at $29,000 after acquiring an additional 94 shares in the last quarter. Larson Financial Group LLC lifted its position in Toll Brothers by 152.6% in the 1st quarter. Larson Financial Group LLC now owns 293 shares of the construction company's stock valued at $31,000 after acquiring an additional 177 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Toll Brothers by 128.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 324 shares of the construction company's stock valued at $37,000 after acquiring an additional 182 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Toll Brothers by 218.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the construction company's stock valued at $38,000 after acquiring an additional 249 shares in the last quarter. 91.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Toll Brothers from $143.00 to $145.00 and gave the company a "market perform" rating in a research report on Thursday, August 28th. Argus lifted their price target on shares of Toll Brothers from $150.00 to $165.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Citigroup lifted their price target on shares of Toll Brothers from $134.00 to $138.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. Raymond James Financial reiterated a "strong-buy" rating and issued a $160.00 price target (up from $130.00) on shares of Toll Brothers in a research note on Monday, August 25th. Finally, Wedbush reiterated an "outperform" rating and issued a $165.00 price target on shares of Toll Brothers in a research note on Thursday, September 18th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $149.79.

Toll Brothers Trading Down 0.3%

Shares of TOL traded down $0.40 during trading hours on Tuesday, hitting $135.82. 461,822 shares of the stock were exchanged, compared to its average volume of 1,780,281. Toll Brothers Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $169.52. 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 business has a 50-day moving average of $131.97 and a 200-day moving average of $114.86. The firm has a market capitalization of $13.09 billion, a P/E ratio of 9.96, a price-to-earnings-growth ratio of 1.66 and a beta of 1.33.

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 analysts' consensus estimates of $3.59 by $0.14. Toll Brothers had a net margin of 12.64% and a return on equity of 17.42%. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same period last year, the firm earned $3.60 earnings per share. The business's quarterly revenue was up 8.0% compared to the same quarter last year. On average, research analysts expect that Toll Brothers Inc. will post 13.83 EPS for the current 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, October 10th. Toll Brothers's dividend payout ratio (DPR) is 7.35%.

Insider Transactions at Toll Brothers

In related news, Director Christine Garvey sold 770 shares of the firm's stock in a transaction dated 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 directly owned 11,590 shares of the company's stock, valued at $1,388,713.80. This trade represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $138.26, for a total transaction of $3,456,500.00. Following the transaction, the chief executive officer directly owned 286,117 shares in the company, valued at $39,558,536.42. The trade was a 8.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 42,413 shares of company stock valued at $5,746,216. Corporate insiders own 1.54% of the company's stock.

Toll Brothers 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.