Meadow Creek Investment Management LLC Trims Holdings in Toll Brothers Inc (NYSE:TOL)

Meadow Creek Investment Management LLC decreased its stake in shares of Toll Brothers Inc (NYSE:TOL) by 13.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,608 shares of the construction company’s stock after selling 7,696 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Toll Brothers were worth $1,853,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in TOL. Janus Henderson Group PLC lifted its holdings in Toll Brothers by 185.7% during the first quarter. Janus Henderson Group PLC now owns 57,182 shares of the construction company’s stock valued at $2,070,000 after purchasing an additional 37,170 shares during the last quarter. Sandy Spring Bank lifted its holdings in Toll Brothers by 150.1% during the first quarter. Sandy Spring Bank now owns 1,078 shares of the construction company’s stock valued at $39,000 after purchasing an additional 647 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Toll Brothers by 6.7% during the first quarter. CIBC Asset Management Inc now owns 10,496 shares of the construction company’s stock valued at $380,000 after purchasing an additional 660 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in Toll Brothers during the first quarter valued at about $813,000. Finally, New York State Teachers Retirement System lifted its holdings in Toll Brothers by 2.0% during the first quarter. New York State Teachers Retirement System now owns 293,337 shares of the construction company’s stock valued at $10,619,000 after purchasing an additional 5,834 shares during the last quarter. Hedge funds and other institutional investors own 81.55% of the company’s stock.

Several equities research analysts have commented on the stock. JMP Securities reaffirmed a “hold” rating on shares of Toll Brothers in a report on Wednesday, August 21st. Royal Bank of Canada set a $37.00 price objective on shares of Toll Brothers and gave the company a “hold” rating in a report on Thursday, May 23rd. Zacks Investment Research raised shares of Toll Brothers from a “sell” rating to a “hold” rating and set a $37.00 price objective on the stock in a report on Monday, August 26th. Bank of America set a $39.00 price target on shares of Toll Brothers and gave the stock a “hold” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Co downgraded shares of Toll Brothers from an “outperform” rating to a “market perform” rating in a report on Thursday, August 22nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Toll Brothers has an average rating of “Hold” and a consensus price target of $36.37.

TOL stock traded down $0.22 during midday trading on Friday, reaching $38.24. The company had a trading volume of 624,084 shares, compared to its average volume of 1,926,424. The company has a debt-to-equity ratio of 0.75, a current ratio of 7.43 and a quick ratio of 1.21. Toll Brothers Inc has a 1 year low of $28.68 and a 1 year high of $39.58. The company has a market capitalization of $5.41 billion, a P/E ratio of 8.12, a P/E/G ratio of 1.09 and a beta of 0.94. The firm has a 50-day moving average price of $35.94 and a 200-day moving average price of $36.66.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, August 20th. The construction company reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.18. Toll Brothers had a net margin of 9.57% and a return on equity of 14.26%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the prior year, the company earned $1.26 EPS. The firm’s revenue was down 7.7% on a year-over-year basis. On average, equities analysts predict that Toll Brothers Inc will post 3.92 EPS for the current year.

Toll Brothers Company Profile

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for detached and attached homes in luxury residential communities in the United States. The company operates in two segments, Traditional Home Building and City Living. It also designs, builds, markets, and sells homes in urban infill markets through Toll Brothers City Living.

Further Reading: What is the Quick Ratio?

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Institutional Ownership by Quarter for Toll Brothers (NYSE:TOL)

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