Texas Permanent School Fund boosted its stake in Toll Brothers Inc. (NYSE:TOL) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,033 shares of the construction company’s stock after buying an additional 994 shares during the period. Texas Permanent School Fund owned about 0.07% of Toll Brothers worth $4,268,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Toll Brothers by 7,882.3% in the first quarter. BlackRock Inc. now owns 16,520,268 shares of the construction company’s stock valued at $596,546,000 after buying an additional 16,313,307 shares during the period. Vanguard Group Inc. raised its position in Toll Brothers by 7.2% in the first quarter. Vanguard Group Inc. now owns 12,216,855 shares of the construction company’s stock valued at $441,150,000 after buying an additional 815,737 shares during the period. FMR LLC raised its position in Toll Brothers by 34.9% in the first quarter. FMR LLC now owns 7,975,533 shares of the construction company’s stock valued at $287,997,000 after buying an additional 2,065,250 shares during the period. Dimensional Fund Advisors LP raised its position in Toll Brothers by 8.1% in the first quarter. Dimensional Fund Advisors LP now owns 5,261,963 shares of the construction company’s stock valued at $190,012,000 after buying an additional 396,190 shares during the period. Finally, Greenhaven Associates Inc. raised its position in Toll Brothers by 3.7% in the first quarter. Greenhaven Associates Inc. now owns 4,043,304 shares of the construction company’s stock valued at $146,004,000 after buying an additional 142,603 shares during the period. 80.44% of the stock is currently owned by institutional investors.
Toll Brothers Inc. (NYSE:TOL) traded up 0.81% during mid-day trading on Friday, reaching $38.73. The company’s stock had a trading volume of 1,004,887 shares. Toll Brothers Inc. has a 52 week low of $26.65 and a 52 week high of $41.07. The firm’s 50 day moving average price is $39.47 and its 200 day moving average price is $36.63. The firm has a market capitalization of $6.34 billion, a P/E ratio of 15.97 and a beta of 1.52.
Toll Brothers (NYSE:TOL) last issued its quarterly earnings results on Tuesday, May 23rd. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.26 billion. Toll Brothers had a return on equity of 9.71% and a net margin of 7.67%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. On average, analysts anticipate that Toll Brothers Inc. will post $3.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 14th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Wednesday, July 12th. Toll Brothers’s dividend payout ratio is presently 13.17%.
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TOL has been the topic of several research analyst reports. Bank of America Corporation reaffirmed a “buy” rating and set a $43.00 price target (up previously from $40.00) on shares of Toll Brothers in a research report on Wednesday, May 24th. BidaskClub lowered Toll Brothers from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Barclays PLC lowered Toll Brothers from an “equal weight” rating to an “underweight” rating and set a $37.00 target price on the stock. in a report on Tuesday, July 11th. Wedbush set a $37.00 target price on Toll Brothers and gave the company a “hold” rating in a report on Friday, May 19th. Finally, Mizuho reissued a “buy” rating on shares of Toll Brothers in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. Toll Brothers currently has an average rating of “Buy” and a consensus target price of $39.67.
In other news, insider Robert I. Toll sold 1,967 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $38.00, for a total value of $74,746.00. Following the completion of the sale, the insider now owns 7,420,317 shares of the company’s stock, valued at $281,972,046. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert I. Toll sold 273,033 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $38.00, for a total value of $10,375,254.00. 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. Over the last three months, insiders have sold 405,500 shares of company stock valued at $15,531,221. Corporate insiders own 8.78% of the company’s stock.
About Toll Brothers
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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