World Asset Management Inc Boosts Stake in Toll Brothers Inc. (NYSE:TOL)
World Asset Management Inc raised its stake in Toll Brothers Inc. (NYSE:TOL) by 1.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 10,065 shares of the construction company’s stock after buying an additional 181 shares during the period. World Asset Management Inc’s holdings in Toll Brothers were worth $398,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. James Investment Research Inc. acquired a new stake in shares of Toll Brothers during the second quarter valued at approximately $1,375,000. Emerald Advisers Inc. PA boosted its stake in shares of Toll Brothers by 0.8% in the first quarter. Emerald Advisers Inc. PA now owns 266,598 shares of the construction company’s stock valued at $9,627,000 after buying an additional 2,044 shares during the period. ZWJ Investment Counsel Inc. acquired a new stake in shares of Toll Brothers during the first quarter valued at approximately $300,000. Korea Investment CORP acquired a new stake in shares of Toll Brothers during the first quarter valued at approximately $5,839,000. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Toll Brothers by 19.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 86,257 shares of the construction company’s stock valued at $3,115,000 after buying an additional 13,900 shares during the period. Hedge funds and other institutional investors own 80.44% of the company’s stock.
Shares of Toll Brothers Inc. (NYSE:TOL) opened at 38.73 on Friday. The firm has a market cap of $6.34 billion, a P/E ratio of 15.97 and a beta of 1.52. Toll Brothers Inc. has a 12-month low of $26.65 and a 12-month high of $41.07. The firm’s 50-day moving average price is $39.47 and its 200 day moving average price is $36.63.
Toll Brothers (NYSE:TOL) last released its earnings results on Tuesday, May 23rd. The construction company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.10. Toll Brothers had a return on equity of 9.71% and a net margin of 7.67%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. On average, equities analysts expect that Toll Brothers Inc. will post $3.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.83%. The ex-dividend date was Wednesday, July 12th. Toll Brothers’s payout ratio is 13.17%.
TOL has been the topic of several research reports. Credit Suisse Group initiated coverage on shares of Toll Brothers in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $39.00 price target on the stock. BidaskClub cut shares of Toll Brothers from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th. Zacks Investment Research upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Tuesday, August 8th. Barclays PLC cut shares of Toll Brothers from an “equal weight” rating to an “underweight” rating and set a $37.00 price target on the stock. in a research report on Tuesday, July 11th. Finally, Zelman & Associates upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating in a research report on Wednesday, May 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $39.67.
In other Toll Brothers news, CFO Martin P. Connor sold 2,000 shares of the stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $40.45, for a total value of $80,900.00. Following the transaction, the chief financial officer now owns 34,836 shares of the company’s stock, valued at $1,409,116.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas C. Jr. Yearley sold 10,000 shares of the stock in a transaction dated 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 405,500 shares of company stock worth $15,531,221 in the last three months. Insiders own 8.78% of the company’s stock.
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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