Bp Plc Sells 48,000 Shares of Toll Brothers Inc (TOL)
Bp Plc cut its holdings in shares of Toll Brothers Inc (NYSE:TOL) by 40.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,000 shares of the construction company’s stock after selling 48,000 shares during the period. Bp Plc’s holdings in Toll Brothers were worth $3,409,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in TOL. JPMorgan Chase & Co. lifted its stake in Toll Brothers by 134.8% during the third quarter. JPMorgan Chase & Co. now owns 7,198,069 shares of the construction company’s stock valued at $294,978,000 after purchasing an additional 4,132,120 shares during the last quarter. Koch Industries Inc. acquired a new stake in Toll Brothers during the second quarter valued at approximately $1,177,000. Bank of New York Mellon Corp lifted its stake in Toll Brothers by 56.1% during the third quarter. Bank of New York Mellon Corp now owns 3,128,341 shares of the construction company’s stock valued at $129,732,000 after purchasing an additional 1,124,409 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in Toll Brothers during the third quarter valued at approximately $36,566,000. Finally, Acadian Asset Management LLC lifted its stake in Toll Brothers by 350,599.2% during the fourth quarter. Acadian Asset Management LLC now owns 448,895 shares of the construction company’s stock valued at $21,556,000 after purchasing an additional 448,767 shares during the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.
TOL has been the subject of several recent research reports. Royal Bank of Canada reissued a “buy” rating and set a $45.00 target price on shares of Toll Brothers in a research note on Wednesday, November 15th. ValuEngine lowered shares of Toll Brothers from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 5th. Wells Fargo & Co reissued an “outperform” rating and set a $54.00 target price (up from $42.00) on shares of Toll Brothers in a research note on Wednesday, December 6th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $55.00 price target on shares of Toll Brothers in a research report on Wednesday, January 24th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $56.00 price target (up previously from $45.00) on shares of Toll Brothers in a research report on Monday, January 22nd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $51.19.
Toll Brothers (NYSE:TOL) last issued its quarterly earnings results on Tuesday, December 5th. The construction company reported $1.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.02). The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Toll Brothers had a net margin of 9.21% and a return on equity of 12.00%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 EPS. research analysts forecast that Toll Brothers Inc will post 3.97 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 12th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $0.32 annualized dividend and a yield of 0.72%. Toll Brothers’s dividend payout ratio is presently 10.06%.
In other Toll Brothers news, CAO Joseph R. Sicree sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $51.48, for a total value of $231,660.00. Following the transaction, the chief accounting officer now owns 24,197 shares in the company, valued at approximately $1,245,661.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Richard T. Hartman sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $47.00, for a total transaction of $940,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,950 shares of company stock worth $6,781,012. Company insiders own 8.78% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Bp Plc Sells 48,000 Shares of Toll Brothers Inc (TOL)” was published by Watch List News and is the property of of Watch List News. If you are accessing this article on another website, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this article can be accessed at https://www.watchlistnews.com/bp-plc-sells-48000-shares-of-toll-brothers-inc-tol/1856601.html.
Toll Brothers 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.
Want to see what other hedge funds are holding TOL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Toll Brothers Inc (NYSE:TOL).
Receive News & Ratings for Toll Brothers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toll Brothers and related companies with MarketBeat.com's FREE daily email newsletter.