Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Toll Brothers Inc. (NYSE:TOL)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Toll Brothers Inc. by 19.4%, holding 35,966 shares valued at approximately $3.8 million.
• Toll Brothers' stock experienced a 3.0% increase, trading at $121.92, with a market capitalization of $11.97 billion.
• The company reported earnings of $3.50 per share, exceeding analyst estimates, and declared a quarterly dividend of $0.25 per share.

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Toll Brothers Inc. (NYSE:TOL - Free Report) by 19.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,966 shares of the construction company's stock after buying an additional 5,836 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Toll Brothers were worth $3,798,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TOL. Balyasny Asset Management L.P. grew its stake in Toll Brothers by 24,475.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,114,728 shares of the construction company's stock valued at $140,400,000 after purchasing 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 valued at $106,428,000. Victory Capital Management Inc. grew its stake in Toll Brothers by 149.5% in the 1st 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 during the period. Junto Capital Management LP bought a new position in Toll Brothers in the 4th quarter valued at $54,929,000. Finally, FMR LLC grew its stake in Toll Brothers by 19.4% in the 4th quarter. FMR LLC now owns 2,528,853 shares of the construction company's stock valued at $318,509,000 after purchasing an additional 410,394 shares during the period. 91.76% of the stock is owned by hedge funds and other institutional investors.

Toll Brothers Stock Up 3.0%

Shares of NYSE TOL traded up $3.56 during mid-day trading on Friday, hitting $121.92. 1,672,220 shares of the stock traded hands, compared to its average volume of 1,566,245. 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 company has a market cap of $11.97 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 1.23 and a beta of 1.33. The stock has a fifty day moving average price of $113.97 and a 200-day moving average price of $112.12.

Toll Brothers (NYSE:TOL - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The construction company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.64. Toll Brothers had a return on equity of 17.87% and a net margin of 12.95%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company posted $3.38 earnings per share. The firm's revenue was down 3.5% on a year-over-year basis. Research analysts anticipate that Toll Brothers Inc. will post 13.83 EPS for the current year.

Toll Brothers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, July 11th. Toll Brothers's payout ratio is 7.42%.

Insiders Place Their Bets

In other Toll Brothers news, CAO Michael J. Grubb sold 500 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $120.00, for a total value of $60,000.00. Following the sale, the chief accounting officer directly owned 2,439 shares of the company's stock, valued at approximately $292,680. The trade was a 17.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christine Garvey sold 770 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $119.82, for a total value of $92,261.40. Following the completion of the sale, the director directly owned 11,590 shares in the company, valued at $1,388,713.80. This trade represents a 6.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,770 shares of company stock valued at $440,586. 1.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Royal Bank Of Canada cut their price target on Toll Brothers from $139.00 to $133.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Wedbush reissued an "outperform" rating on shares of Toll Brothers in a report on Tuesday, May 20th. Wall Street Zen raised Toll Brothers from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Evercore ISI reiterated an "outperform" rating and issued a $169.00 price objective (up from $167.00) on shares of Toll Brothers in a research report on Thursday, May 22nd. Finally, Oppenheimer cut their price objective on Toll Brothers from $165.00 to $155.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.23.

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.