Trinity Street Asset Management LLP lowered its position in shares of Toll Brothers Inc. (NYSE:TOL) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 1,160,802 shares of the construction company’s stock after selling 3,883 shares during the period. Toll Brothers comprises approximately 7.0% of Trinity Street Asset Management LLP’s investment portfolio, making the stock its 3rd largest position. Trinity Street Asset Management LLP’s holdings in Toll Brothers were worth $45,863,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE boosted its stake in shares of Toll Brothers by 1.8% in the first quarter. US Bancorp DE now owns 2,791 shares of the construction company’s stock worth $101,000 after buying an additional 49 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Toll Brothers during the first quarter worth approximately $114,000. Macquarie Group Ltd. boosted its stake in shares of Toll Brothers by 17.9% in the fourth quarter. Macquarie Group Ltd. now owns 3,300 shares of the construction company’s stock worth $102,000 after buying an additional 500 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Toll Brothers by 10.1% in the first quarter. Toronto Dominion Bank now owns 3,704 shares of the construction company’s stock worth $134,000 after buying an additional 339 shares in the last quarter. Finally, Navellier & Associates Inc acquired a new stake in shares of Toll Brothers during the first quarter worth approximately $208,000. Institutional investors own 80.22% of the company’s stock.
Toll Brothers Inc. (NYSE:TOL) traded up 0.13% during midday trading on Friday, hitting $39.30. 2,262,191 shares of the stock traded hands. Toll Brothers Inc. has a 52-week low of $26.65 and a 52-week high of $41.07. The firm has a market cap of $6.43 billion, a PE ratio of 16.21 and a beta of 1.52. The stock has a 50-day moving average of $39.04 and a 200 day moving average of $35.77.
Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, May 23rd. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.10. Toll Brothers had a net margin of 7.67% and a return on equity of 9.71%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Toll Brothers’s quarterly revenue was up 22.2% on a year-over-year basis. Equities analysts forecast that Toll Brothers Inc. will post $3.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 14th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Wednesday, July 12th. Toll Brothers’s dividend payout ratio is currently 13.17%.
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A number of brokerages have commented on TOL. Barclays PLC cut shares of Toll Brothers from an “equal weight” rating to an “underweight” rating and set a $37.00 target price for the company. in a report on Tuesday, July 11th. BidaskClub raised shares of Toll Brothers from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Royal Bank Of Canada upped their target price on shares of Toll Brothers from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, July 13th. Mizuho reaffirmed a “buy” rating on shares of Toll Brothers in a report on Tuesday, July 11th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $43.00 price objective (up from $40.00) on shares of Toll Brothers in a research note on Wednesday, May 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $39.33.
In related news, Director Stephen A. Novick sold 85,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $39.08, for a total value of $3,321,800.00. Following the completion of the sale, the director now owns 24,417 shares of the company’s stock, valued at $954,216.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert I. Toll sold 1,967 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $38.00, for a total transaction of $74,746.00. Following the completion of the sale, the insider now directly owns 7,420,317 shares of the company’s stock, valued at approximately $281,972,046. The disclosure for this sale can be found here. Insiders sold 405,500 shares of company stock valued at $15,531,221 in the last three months. 8.78% of the stock is currently owned by insiders.
Toll Brothers Company Profile
Toll Brothers, Inc is engaged in designing, building, marketing, selling and arranging financing for detached and attached homes in luxury residential communities. The Company operates through two segments: Traditional Home Building and Toll Brothers City Living (City Living). Within the Traditional Home Building segment, it operates in five geographic segments in the United States: the North, consisting of Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey and New York; the Mid-Atlantic, consisting of Delaware, Maryland, Pennsylvania and Virginia; the South, consisting of Florida, North Carolina and Texas; the West, consisting of Arizona, Colorado, Nevada and Washington, and California.
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