Toll Brothers Inc. (TOL) Stake Lowered by Korea Investment CORP
Korea Investment CORP cut its stake in Toll Brothers Inc. (NYSE:TOL) by 10.9% during the second quarter, Holdings Channel reports. The fund owned 144,000 shares of the construction company’s stock after selling 17,700 shares during the period. Korea Investment CORP’s holdings in Toll Brothers were worth $5,689,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of TOL. Teachers Advisors LLC raised its stake in Toll Brothers by 3.9% in the fourth quarter. Teachers Advisors LLC now owns 155,082 shares of the construction company’s stock valued at $4,808,000 after buying an additional 5,830 shares during the last quarter. Macquarie Group Ltd. raised its position in Toll Brothers by 17.9% in the fourth quarter. Macquarie Group Ltd. now owns 3,300 shares of the construction company’s stock valued at $102,000 after buying an additional 500 shares during the last quarter. Gulf International Bank UK Ltd raised its position in Toll Brothers by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 50,244 shares of the construction company’s stock valued at $1,814,000 after buying an additional 525 shares during the last quarter. Bank of Montreal Can raised its position in Toll Brothers by 6.8% in the first quarter. Bank of Montreal Can now owns 273,393 shares of the construction company’s stock valued at $9,872,000 after buying an additional 17,330 shares during the last quarter. Finally, Capstone Asset Management Co. raised its position in Toll Brothers by 4.4% in the first quarter. Capstone Asset Management Co. now owns 16,545 shares of the construction company’s stock valued at $597,000 after buying an additional 690 shares during the last quarter. Hedge funds and other institutional investors own 80.44% of the company’s stock.
Shares of Toll Brothers Inc. (TOL) opened at 38.73 on Friday. The stock has a 50 day moving average of $39.47 and a 200-day moving average of $36.63. The stock has a market capitalization of $6.34 billion, a P/E ratio of 15.97 and a beta of 1.52. Toll Brothers Inc. has a one year low of $26.65 and a one year high of $41.07.
Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, May 23rd. The construction company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.10. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.26 billion. Toll Brothers had a return on equity of 9.71% and a net margin of 7.67%. Toll Brothers’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 EPS. Equities analysts forecast that Toll Brothers Inc. will post $3.15 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Wednesday, July 12th. Toll Brothers’s dividend payout ratio (DPR) is presently 13.17%.
Several research firms recently weighed in on TOL. BidaskClub upgraded shares of Toll Brothers from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Credit Suisse Group began coverage on shares of Toll Brothers in a research report on Thursday, June 22nd. They set a “neutral” rating and a $39.00 price target for the company. Citigroup Inc. increased their price target on shares of Toll Brothers from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Buckingham Research lowered shares of Toll Brothers from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 24th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada increased their price target on shares of Toll Brothers from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $39.67.
In other Toll Brothers news, Director Richard J. Braemer sold 15,000 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $37.74, for a total value of $566,100.00. Following the transaction, the director now owns 102,873 shares of the company’s stock, valued at approximately $3,882,427.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 10,000 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $38.50, for a total value of $385,000.00. Following the completion of the transaction, the chief executive officer now directly owns 186,372 shares in the company, valued at approximately $7,175,322. The disclosure for this sale can be found here. Insiders sold a total of 405,500 shares of company stock worth $15,531,221 in the last ninety days. 8.78% of the stock is currently owned by corporate insiders.
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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