Pictet Asset Management Ltd. trimmed its holdings in Toll Brothers Inc. (NYSE:TOL) by 39.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 865,012 shares of the construction company’s stock after selling 556,935 shares during the period. Pictet Asset Management Ltd. owned 0.55% of Toll Brothers worth $35,872,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. NewSquare Capital LLC acquired a new stake in shares of Toll Brothers in the second quarter valued at about $101,000. Advisors Asset Management Inc. raised its position in shares of 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 buying an additional 1,017 shares during the last quarter. IFP Advisors Inc raised its position in shares of 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 buying an additional 2,152 shares during the last quarter. Aviance Capital Management LLC acquired a new stake in Toll Brothers during the second quarter worth about $151,000. Finally, Toronto Dominion Bank increased its position in Toll Brothers by 5.2% during the second quarter. Toronto Dominion Bank now owns 3,896 shares of the construction company’s stock worth $154,000 after purchasing an additional 192 shares during the last quarter. Institutional investors and hedge funds own 80.78% of the company’s stock.
In other news, Director Richard J. Braemer sold 7,500 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $37.88, for a total transaction of $284,100.00. Following the completion of the sale, the director now owns 110,373 shares in the company, valued at approximately $4,180,929.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Richard T. Hartman sold 8,537 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $46.00, for a total value of $392,702.00. Following the sale, the president now owns 27,233 shares of the company’s stock, valued at approximately $1,252,718. The disclosure for this sale can be found here. Insiders have sold a total of 52,187 shares of company stock valued at $2,184,490 in the last quarter. Company insiders own 8.78% of the company’s stock.
TOL has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Tuesday, August 8th. Mizuho restated a “buy” rating on shares of Toll Brothers in a research report on Tuesday, July 11th. BidaskClub cut shares of Toll Brothers from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Royal Bank Of Canada restated a “buy” rating and set a $45.00 price objective on shares of Toll Brothers in a research report on Monday, September 25th. Finally, UBS AG initiated coverage on shares of Toll Brothers in a research report on Wednesday, October 25th. They set a “buy” rating and a $50.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $42.93.
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Toll Brothers (NYSE:TOL) last posted its quarterly earnings data on Tuesday, August 22nd. The construction company reported $0.87 EPS 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 company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company posted $0.61 EPS. The company’s quarterly revenue was up 18.3% compared to the same quarter last year.
The company also recently announced 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of Infinity. The ex-dividend date was Thursday, October 12th. Toll Brothers’s payout ratio is currently 11.90%.
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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