Teacher Retirement System of Texas reduced its position in Toll Brothers Inc. (NYSE:TOL) by 0.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 229,609 shares of the construction company’s stock after selling 62 shares during the period. Teacher Retirement System of Texas owned about 0.14% of Toll Brothers worth $9,072,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in TOL. BlackRock Inc. boosted its position in shares of Toll Brothers by 7,882.3% in the first quarter. BlackRock Inc. now owns 16,520,268 shares of the construction company’s stock worth $596,546,000 after buying an additional 16,313,307 shares during the period. Vanguard Group Inc. raised its stake in shares of Toll Brothers by 7.2% in the first quarter. Vanguard Group Inc. now owns 12,216,855 shares of the construction company’s stock worth $441,150,000 after buying an additional 815,737 shares in the last quarter. FMR LLC raised its stake in shares of Toll Brothers by 34.9% in the first quarter. FMR LLC now owns 7,975,533 shares of the construction company’s stock worth $287,997,000 after buying an additional 2,065,250 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 worth $190,012,000 after buying an additional 396,190 shares in the last quarter. Finally, Greenhaven Associates Inc. raised its stake in shares of Toll Brothers by 3.7% in the first quarter. Greenhaven Associates Inc. now owns 4,043,304 shares of the construction company’s stock worth $146,004,000 after buying an additional 142,603 shares in the last quarter. 80.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of Toll Brothers Inc. (NYSE TOL) opened at 39.08 on Tuesday. The company’s 50 day moving average price is $39.48 and its 200 day moving average price is $36.73. Toll Brothers Inc. has a 52-week low of $26.65 and a 52-week high of $41.07. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 16.12 and a beta of 1.52.
Toll Brothers (NYSE:TOL) last released its quarterly earnings data on Tuesday, May 23rd. The construction company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.63 by $0.10. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.26 billion. Toll Brothers had a return on equity of 9.71% and a net margin of 7.67%. Toll Brothers’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. On average, analysts predict that Toll Brothers Inc. will post $3.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were issued a dividend of $0.08 per share. The ex-dividend date was Wednesday, July 12th. This represents a $0.32 annualized dividend and a yield of 0.82%. Toll Brothers’s payout ratio is currently 13.17%.
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A number of equities research analysts have recently weighed in on TOL shares. Zacks Investment Research upgraded Toll Brothers from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Tuesday, April 25th. Zelman & Associates upgraded Toll Brothers from a “hold” rating to a “buy” rating in a research report on Wednesday, May 17th. Buckingham Research lowered Toll Brothers from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 24th. They noted that the move was a valuation call. Mizuho reiterated a “buy” rating on shares of Toll Brothers in a research report on Tuesday, July 11th. Finally, Credit Suisse Group started coverage on Toll Brothers in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $39.00 price objective on the stock. One 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 stock. The stock currently has an average rating of “Buy” and an average target price of $39.67.
In other Toll Brothers news, 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 transaction of $10,375,254.00. Following the transaction, the insider now directly owns 7,420,317 shares in the company, valued at approximately $281,972,046. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard J. Braemer sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $37.74, for a total value of $566,100.00. Following the transaction, the director now owns 102,873 shares in the company, valued at $3,882,427.02. The disclosure for this sale can be found here. Insiders have sold a total of 405,500 shares of company stock worth $15,531,221 over the last 90 days. 8.78% of the stock is currently owned by company insiders.
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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