Strategic Wealth Advisors Group LLC acquired a new stake in shares of Toll Brothers Inc. (NYSE:TOL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,088 shares of the construction company’s stock, valued at approximately $438,000.
Several other hedge funds and other institutional investors have also modified their holdings of TOL. NewSquare Capital LLC purchased a new position in Toll Brothers during the second quarter worth about $101,000. Advisors Asset Management Inc. boosted its holdings in Toll Brothers by 61.6% during the second quarter. Advisors Asset Management Inc. now owns 2,667 shares of the construction company’s stock worth $105,000 after purchasing an additional 1,017 shares during the last quarter. IFP Advisors Inc boosted its holdings in Toll Brothers by 369.1% during the second quarter. IFP Advisors Inc now owns 2,735 shares of the construction company’s stock worth $108,000 after purchasing an additional 2,152 shares during the last quarter. US Bancorp DE boosted its holdings in Toll Brothers by 1.8% during the first quarter. US Bancorp DE now owns 2,791 shares of the construction company’s stock worth $101,000 after purchasing an additional 49 shares during the last quarter. Finally, Aviance Capital Management LLC purchased a new position in Toll Brothers during the second quarter worth about $151,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.
Several research analysts recently weighed in on the stock. BidaskClub cut shares of Toll Brothers from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Bank of America Corporation lifted their price objective on shares of Toll Brothers from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, June 28th. KeyCorp reaffirmed a “hold” rating on shares of Toll Brothers in a research report on Tuesday, September 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $40.00 price objective on shares of Toll Brothers in a research report on Sunday, October 8th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $37.00 price objective (down previously from $40.00) on shares of Toll Brothers in a research report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Toll Brothers presently has a consensus rating of “Hold” and an average price target of $41.00.
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Toll Brothers (NYSE:TOL) last posted its quarterly 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 return on equity of 10.44% and a net margin of 8.12%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the business earned $0.61 earnings per share. The company’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 will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be paid a $0.08 dividend. The ex-dividend date is Thursday, October 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.75%. Toll Brothers’s dividend payout ratio (DPR) is presently 11.90%.
In other Toll Brothers news, Director Richard J. Braemer sold 7,500 shares of the business’s 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 sale, the director now directly owns 110,373 shares in the company, valued at $4,180,929.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carl B. Marbach sold 12,900 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $39.97, for a total value of $515,613.00. Following the sale, the director now owns 114,149 shares in the company, valued at $4,562,535.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,400 shares of company stock worth $882,613. Company insiders own 8.78% of the company’s stock.
Toll Brothers Company 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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