Toll Brothers Inc. (TOL) Position Raised by Bank of New York Mellon Corp
Bank of New York Mellon Corp grew its holdings in shares of Toll Brothers Inc. (NYSE:TOL) by 56.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,128,341 shares of the construction company’s stock after buying an additional 1,124,409 shares during the quarter. Bank of New York Mellon Corp owned 1.91% of Toll Brothers worth $129,732,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in TOL. Teachers Advisors LLC grew its stake in Toll Brothers by 6.9% during the first quarter. Teachers Advisors LLC now owns 165,719 shares of the construction company’s stock worth $5,984,000 after buying an additional 10,637 shares during the period. Tudor Investment Corp ET AL purchased a new stake in Toll Brothers during the first quarter worth approximately $246,000. Capstone Asset Management Co. grew its stake in Toll Brothers by 2.8% during the second quarter. Capstone Asset Management Co. now owns 17,005 shares of the construction company’s stock worth $672,000 after buying an additional 460 shares during the period. NN Investment Partners Holdings N.V. grew its stake in Toll Brothers by 877.6% during the second quarter. NN Investment Partners Holdings N.V. now owns 8,701 shares of the construction company’s stock worth $344,000 after buying an additional 7,811 shares during the period. Finally, Mn Services Vermogensbeheer B.V. grew its stake in Toll Brothers by 505.1% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 25,087 shares of the construction company’s stock worth $991,000 after buying an additional 20,941 shares during the period. Institutional investors own 82.73% of the company’s stock.
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Shares of Toll Brothers Inc. (NYSE:TOL) opened at $48.07 on Thursday. The stock has a market cap of $7,630.00, a price-to-earnings ratio of 17.83, a P/E/G ratio of 1.03 and a beta of 1.55. The company has a quick ratio of 1.10, a current ratio of 6.75 and a debt-to-equity ratio of 0.84. Toll Brothers Inc. has a twelve month low of $29.11 and a twelve month high of $48.23.
Toll Brothers (NYSE:TOL) last posted its quarterly earnings results on Tuesday, August 22nd. The construction company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.19. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Toll Brothers had a net margin of 8.12% and a return on equity of 10.44%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. equities analysts predict that Toll Brothers Inc. will post 3.2 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 13th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $0.32 annualized dividend and a yield of 0.67%. Toll Brothers’s dividend payout ratio is presently 11.94%.
In related news, Director Richard J. Braemer sold 7,500 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $37.88, for a total value of $284,100.00. Following the sale, the director now directly owns 110,373 shares of the company’s stock, valued at $4,180,929.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Richard T. Hartman sold 8,537 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $46.00, for a total transaction of $392,702.00. Following the completion of the sale, the president now directly owns 27,233 shares in the company, valued at $1,252,718. The disclosure for this sale can be found here. Insiders sold 72,187 shares of company stock worth $3,124,490 over the last ninety days. 8.78% of the stock is currently owned by corporate insiders.
Several research firms have issued reports on TOL. Royal Bank Of Canada reiterated a “buy” rating and set a $45.00 price objective on shares of Toll Brothers in a research note on Monday, September 25th. BidaskClub downgraded shares of Toll Brothers from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. UBS Group AG began coverage on shares of Toll Brothers in a research note on Wednesday, October 25th. They set a “buy” rating and a $50.00 price objective for the company. KeyCorp reiterated a “hold” rating on shares of Toll Brothers in a research note on Friday, August 25th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 price objective on shares of Toll Brothers in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Toll Brothers presently has an average rating of “Hold” and a consensus target price of $44.00.
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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