Comerica Bank trimmed its holdings in shares of Toll Brothers Inc (NYSE:TOL) by 19.3% in the third quarter, HoldingsChannel reports. The firm owned 86,565 shares of the construction company’s stock after selling 20,695 shares during the period. Comerica Bank’s holdings in Toll Brothers were worth $2,619,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of TOL. Truvestments Capital LLC purchased a new position in shares of Toll Brothers during the 3rd quarter worth approximately $119,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Toll Brothers by 186.7% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,300 shares of the construction company’s stock worth $159,000 after purchasing an additional 2,800 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Toll Brothers by 1,850.4% during the 2nd quarter. Parallel Advisors LLC now owns 5,227 shares of the construction company’s stock worth $193,000 after purchasing an additional 4,959 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new position in shares of Toll Brothers during the 2nd quarter worth approximately $201,000. Finally, Creative Planning purchased a new position in shares of Toll Brothers during the 2nd quarter worth approximately $210,000. 82.02% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on TOL shares. Bank of America raised their price objective on shares of Toll Brothers from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, August 22nd. ValuEngine cut shares of Toll Brothers from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 7th. Zacks Investment Research cut shares of Toll Brothers from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Raymond James reaffirmed a “buy” rating and issued a $44.00 target price (down from $50.00) on shares of Toll Brothers in a research note on Thursday, August 23rd. Finally, Barclays reaffirmed a “sell” rating and issued a $37.00 target price (down from $39.00) on shares of Toll Brothers in a research note on Friday, September 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $47.56.
The company also recently announced a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, October 12th were paid a $0.11 dividend. The ex-dividend date of this dividend was Thursday, October 11th. This represents a $0.44 annualized dividend and a yield of 1.35%. Toll Brothers’s payout ratio is currently 13.88%.
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Toll Brothers Profile
Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, and arranges finance for detached and attached homes in luxury residential communities in the United States. The company operates through two segments, Traditional Home Building and City Living. It also builds and sells homes in urban infill markets through Toll Brothers City Living.
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