Oppenheimer & Co. Inc. cut its holdings in Toll Brothers, Inc. (NYSE:TOL - Free Report) by 10.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,644 shares of the construction company's stock after selling 3,465 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Toll Brothers were worth $4,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of TOL. Capital Performance Advisors LLP bought a new stake in shares of Toll Brothers in the 3rd quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Toll Brothers during the 2nd quarter valued at $29,000. Massmutual Trust Co. FSB ADV raised its holdings in Toll Brothers by 114.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company's stock worth $31,000 after purchasing an additional 142 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Toll Brothers by 202.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 333 shares of the construction company's stock worth $38,000 after purchasing an additional 223 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Toll Brothers by 323.4% during the 3rd quarter. UMB Bank n.a. now owns 271 shares of the construction company's stock valued at $42,000 after purchasing an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 91.76% of the company's stock.
Toll Brothers Price Performance
Shares of TOL stock traded down $1.47 on Friday, hitting $152.23. 405,069 shares of the stock traded hands, compared to its average volume of 1,360,708. The firm has a market cap of $15.37 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 1.13 and a beta of 1.68. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.52 and a quick ratio of 0.57. The firm has a 50 day simple moving average of $150.42 and a two-hundred day simple moving average of $134.72. Toll Brothers, Inc. has a 52 week low of $84.40 and a 52 week high of $160.12.
Toll Brothers (NYSE:TOL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 20th. The construction company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.31 by $0.29. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. Toll Brothers had a return on equity of 19.82% and a net margin of 14.63%. The business's revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.73 earnings per share. As a group, equities research analysts predict that Toll Brothers, Inc. will post 13.53 earnings per share for the current fiscal year.
Toll Brothers Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, October 11th. Toll Brothers's payout ratio is currently 6.34%.
Analysts Set New Price Targets
TOL has been the subject of several research analyst reports. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $142.00 price objective on shares of Toll Brothers in a report on Wednesday, August 21st. Oppenheimer raised their price target on Toll Brothers from $168.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday, October 2nd. Wedbush upgraded shares of Toll Brothers from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $148.00 to $175.00 in a report on Friday, October 25th. Seaport Res Ptn cut shares of Toll Brothers from a "hold" rating to a "strong sell" rating in a research note on Sunday, August 4th. Finally, Bank of America raised their price target on Toll Brothers from $160.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $148.87.
Read Our Latest Report on TOL
Insider Activity
In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $147.49, for a total transaction of $12,917,764.16. Following the completion of the transaction, the chief executive officer now owns 346,382 shares in the company, valued at $51,087,881.18. This trade represents a 20.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John A. Mclean sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $151.10, for a total value of $151,100.00. Following the sale, the director now directly owns 9,944 shares in the company, valued at $1,502,538.40. This trade represents a 9.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,257 shares of company stock worth $32,602,152 over the last quarter. Insiders own 1.54% of the company's stock.
Toll Brothers Company Profile
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Free Report)
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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