Lyell Wealth Management LP purchased a new stake in shares of Toll Brothers Inc (NYSE:TOL) during the second quarter, Holdings Channel reports. The institutional investor purchased 5,500 shares of the construction company’s stock, valued at approximately $201,000.
Other hedge funds have also modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in Toll Brothers in the first quarter valued at about $25,000. Quadrant Capital Group LLC grew its stake in Toll Brothers by 309.0% in the first quarter. Quadrant Capital Group LLC now owns 953 shares of the construction company’s stock valued at $32,000 after purchasing an additional 720 shares in the last quarter. Sandy Spring Bank grew its stake in Toll Brothers by 150.1% in the first quarter. Sandy Spring Bank now owns 1,078 shares of the construction company’s stock valued at $39,000 after purchasing an additional 647 shares in the last quarter. CWM LLC purchased a new position in Toll Brothers in the first quarter valued at about $53,000. Finally, Penserra Capital Management LLC purchased a new position in Toll Brothers in the first quarter valued at about $57,000. Institutional investors and hedge funds own 81.49% of the company’s stock.
In related news, Director Carl B. Marbach sold 3,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $35.14, for a total transaction of $105,420.00. Following the completion of the transaction, the director now owns 85,463 shares of the company’s stock, valued at approximately $3,003,169.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward G. Boehne sold 17,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $37.01, for a total value of $629,170.00. Following the transaction, the director now directly owns 64,304 shares of the company’s stock, valued at approximately $2,379,891.04. The disclosure for this sale can be found here. Insiders sold 20,200 shares of company stock valued at $742,192 in the last ninety days. Insiders own 9.69% of the company’s stock.
Toll Brothers (NYSE:TOL) last announced its quarterly earnings results on Tuesday, May 21st. The construction company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.10. Toll Brothers had a return on equity of 15.57% and a net margin of 10.01%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, research analysts anticipate that Toll Brothers Inc will post 3.86 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a $0.11 dividend. The ex-dividend date was Thursday, July 11th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.26%. Toll Brothers’s dividend payout ratio is currently 9.34%.
A number of brokerages have commented on TOL. ValuEngine downgraded Toll Brothers from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. Raymond James downgraded Toll Brothers from an “outperform” rating to a “market perform” rating and set a $35.39 target price on the stock. in a research note on Thursday, May 30th. SunTrust Banks started coverage on Toll Brothers in a research report on Monday. They issued a “hold” rating and a $37.00 price target for the company. Zacks Investment Research cut Toll Brothers from a “hold” rating to a “sell” rating and set a $37.00 price target for the company. in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada set a $37.00 price target on Toll Brothers and gave the stock a “hold” rating in a research report on Thursday, May 23rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $35.49.
About Toll Brothers
Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for detached and attached homes in luxury residential communities in the United States. The company operates in two segments, Traditional Home Building and City Living. It also designs, builds, markets, and sells homes in urban infill markets through Toll Brothers City Living.
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