Financial Partners Capital Management LLC cut its holdings in Toll Brothers Inc. (NYSE:TOL) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,560 shares of the construction company’s stock after selling 4,805 shares during the period. Financial Partners Capital Management LLC owned approximately 0.10% of Toll Brothers worth $6,186,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. US Bancorp DE increased its position in Toll Brothers by 1.8% in the 1st quarter. US Bancorp DE now owns 2,791 shares of the construction company’s stock valued at $101,000 after buying an additional 49 shares in the last quarter. NewSquare Capital LLC bought a new stake in Toll Brothers in the 2nd quarter valued at about $101,000. Advisors Asset Management Inc. increased its position in Toll Brothers by 61.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,667 shares of the construction company’s stock valued at $105,000 after buying an additional 1,017 shares in the last quarter. IFP Advisors Inc increased its position in Toll Brothers by 369.1% in the 2nd quarter. IFP Advisors Inc now owns 2,735 shares of the construction company’s stock valued at $108,000 after buying an additional 2,152 shares in the last quarter. Finally, Aviance Capital Management LLC bought a new stake in Toll Brothers in the 2nd quarter valued at about $151,000. 80.69% of the stock is owned by hedge funds and other institutional investors.
TOL has been the subject of a number of research analyst reports. BidaskClub raised Toll Brothers from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Credit Suisse Group initiated coverage on Toll Brothers in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $39.00 target price for the company. Bank of America Corporation boosted their target price on Toll Brothers from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, June 28th. Barclays PLC lowered Toll Brothers from an “equal weight” rating to an “underweight” rating and set a $37.00 target price for the company. in a research report on Tuesday, July 11th. Finally, Mizuho reaffirmed a “buy” rating on shares of Toll Brothers in a research report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. Toll Brothers has an average rating of “Hold” and an average target price of $40.67.
Toll Brothers (NYSE:TOL) last announced its earnings results on Tuesday, August 22nd. The construction company reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.19. Toll Brothers had a net margin of 8.12% and a return on equity of 10.44%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the firm earned $0.61 earnings per share. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. Equities research analysts forecast that Toll Brothers Inc. will post $3.19 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Thursday, October 12th. Toll Brothers’s dividend payout ratio is 11.90%.
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In other Toll Brothers news, Director Richard J. Braemer sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $37.88, for a total transaction of $284,100.00. Following the completion of the transaction, the director now owns 110,373 shares of the company’s stock, valued at $4,180,929.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carl B. Marbach sold 12,900 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $39.97, for a total transaction of $515,613.00. Following the transaction, the director now directly owns 114,149 shares of the company’s stock, valued at approximately $4,562,535.53. The disclosure for this sale can be found here. Insiders have sold 22,400 shares of company stock valued at $882,613 in the last ninety days. 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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