Shell Asset Management Co. raised its position in Toll Brothers Inc. (NYSE:TOL) by 220.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 27,104 shares of the construction company’s stock after purchasing an additional 18,642 shares during the period. Shell Asset Management Co.’s holdings in Toll Brothers were worth $845,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. NewSquare Capital LLC acquired a new stake in Toll Brothers in the second quarter valued at $101,000. Advisors Asset Management Inc. grew its holdings in Toll Brothers by 61.6% in the second quarter. Advisors Asset Management Inc. now owns 2,667 shares of the construction company’s stock valued at $105,000 after purchasing an additional 1,017 shares during the last quarter. IFP Advisors Inc grew its holdings in Toll Brothers by 369.1% in the second quarter. IFP Advisors Inc now owns 2,735 shares of the construction company’s stock valued at $108,000 after purchasing an additional 2,152 shares during the last quarter. Aviance Capital Management LLC purchased a new stake in shares of Toll Brothers in the second quarter valued at $151,000. Finally, Toronto Dominion Bank lifted its position in shares of Toll Brothers by 5.2% in the second quarter. Toronto Dominion Bank now owns 3,896 shares of the construction company’s stock valued at $154,000 after acquiring an additional 192 shares in the last quarter. 80.78% of the stock is currently owned by institutional investors.
TOL has been the topic of several recent research reports. Barclays PLC downgraded Toll Brothers from an “equal weight” rating to an “underweight” rating and set a $37.00 price objective on the stock. in a research report on Tuesday, July 11th. Mizuho restated a “buy” rating on shares of Toll Brothers in a research report on Tuesday, July 11th. BidaskClub upgraded Toll Brothers from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada upped their price objective on Toll Brothers from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. Finally, Zacks Investment Research upgraded Toll Brothers from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $42.23.
In other news, Director Richard J. Braemer sold 7,500 shares of Toll Brothers stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $37.88, for a total transaction of $284,100.00. Following the transaction, the director now owns 110,373 shares in the company, valued at $4,180,929.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul E. Shapiro sold 16,250 shares of Toll Brothers stock in a transaction on Friday, October 13th. The shares were sold at an average price of $42.58, for a total value of $691,925.00. The disclosure for this sale can be found here. Insiders have sold 52,187 shares of company stock worth $2,184,490 in the last quarter. 8.78% of the stock is currently owned by corporate insiders.
Toll Brothers (NYSE:TOL) last issued its quarterly earnings results on Tuesday, August 22nd. The construction company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.19. Toll Brothers had a return on equity of 10.44% and a net margin of 8.12%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. Toll Brothers’s revenue for the quarter was up 18.3% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, October 13th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, October 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.70%. Toll Brothers’s dividend payout ratio is 11.90%.
Toll Brothers 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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