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National Bank of Canada FI trimmed its stake in shares of Toll Brothers Inc. (NYSE:TOL – Free Report) by 36.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 36,652 shares of the construction company’s stock after selling 21,426 shares during the quarter. National Bank of Canada FI’s holdings in Toll Brothers were worth $3,871,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Balyasny Asset Management L.P. grew its holdings in shares of Toll Brothers by 24,475.1% during 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 last quarter. D1 Capital Partners L.P. acquired a new position in Toll Brothers in the 4th quarter worth about $106,428,000. Victory Capital Management Inc. increased its holdings 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 worth $102,907,000 after purchasing an additional 583,940 shares in the last quarter. Junto Capital Management LP acquired a new position in Toll Brothers in the 4th quarter worth about $54,929,000. Finally, Shellback Capital LP increased its holdings in Toll Brothers by 571.9% in the 4th quarter. Shellback Capital LP now owns 360,000 shares of the construction company’s stock worth $45,342,000 after purchasing an additional 306,422 shares in the last quarter. 91.76% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have issued reports on TOL shares. UBS Group reaffirmed a “buy” rating on shares of Toll Brothers in a report on Tuesday, May 20th. Barclays reaffirmed an “underweight” rating on shares of Toll Brothers in a report on Tuesday, May 20th. Keefe, Bruyette & Woods lowered their target price on Toll Brothers from $132.00 to $120.00 and set a “market perform” rating for the company in a report on Tuesday, May 20th. Seaport Res Ptn raised Toll Brothers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 23rd. Finally, Oppenheimer lowered their target price on Toll Brothers from $165.00 to $155.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $141.46.
Toll Brothers Trading Down 1.7%
Shares of TOL stock opened at $131.05 on Friday. The stock has a 50-day moving average of $117.88 and a 200-day moving average of $111.60. Toll Brothers Inc. has a 1-year low of $86.67 and a 1-year high of $169.52. The stock has a market cap of $12.87 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 1.39 and a beta of 1.33. The company has a current ratio of 4.21, a quick ratio of 0.44 and a debt-to-equity ratio of 0.35.
Toll Brothers (NYSE:TOL – Get Free Report) last released its earnings results on Tuesday, May 20th. The construction company reported $3.50 EPS for the quarter, topping 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 business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the firm posted $3.38 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. On average, equities research analysts forecast that Toll Brothers Inc. will post 13.83 earnings per share for the current year.
Toll Brothers Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.00 annualized dividend and a yield of 0.8%. Toll Brothers’s dividend payout ratio (DPR) is currently 7.42%.
Insider Buying and Selling
In related news, CAO Michael J. Grubb sold 500 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $120.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief accounting officer owned 2,439 shares of the company’s stock, valued at $292,680. This trade represents a 17.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephen F. East sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $115.33, for a total value of $288,325.00. Following the sale, the director directly owned 12,787 shares of the company’s stock, valued at $1,474,724.71. This represents a 16.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,770 shares of company stock valued at $440,586 over the last 90 days. Company insiders own 1.54% of the company’s stock.
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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